1Q 2018 Business Overview

1Q 2018 FX Market 17% Trading volumes RUB trn ☑ Spot trading volumes Volatility USD/RUB,%¹ RUB trn Swap Spot 1.8 1.8 1.8 1.2 1.0 Swap trading volumes RUB trn -8.4% -6.5% 20.4 69.1 -6.9% 18.6 89.5 90.2 83.7 84.3 83.3 23% 22% 24% 22% 22% 77% 78% 76% 78% 78% 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Fee & commission income RUB mln 1Q 2017 1Q 2018 Comments 64.6 1Q 2017 1Q 2018 F&C was down 3.2% YoY due to a contraction of trading volumes (-6.9% YoY). -3.2% 957 965 960 945 926 Swap trading volumes declined 6.5% YoY, spot trading declined 8.4% YoY. Sponsored Market Access to the FX Market continues to develop, with six participants to date. 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 MOSCOW EXCHANGE Source: Moscow Exchange operational information and Consolidated Financial Statements, CBR Calculated as daily standard deviation for the period divided by the average value for the period 1 42 42

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