Fixed Income Market Presentation

7% Derivatives Market: FX futures remains a key growth driver Trading volumes Open interest millions of contracts Volatility index Currencies millions of contracts, daily average Interest rates Equities Commodities Indices -29% -34% 44 32 +8% 52 12.9 17.1 35 32 32 43 9.2 12.9 12.9 10.0 8.5 661 615 5% -0% 1%- 1% 46% 57% +27% 475 -1%=1% 324 313 274,1% -1%-1% 64% -6%=0% 28% 42% 1% 51% 54% 348 -5%=0% 60% 1H2014 1H2015 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 24% 31% 26% 20% 24% 26% 22% Comments 13% 25% 21% 15% 14% 12% 4Q2014 1Q2015 2Q2015 1H2014 1H2015 2Q2014 3Q2014 Fee & commission income RUB mln -26% 769 -4% 568 504 335 364 322 246 1H2014 1H2015 2Q2014 ☑ MOSCOW EXCHANGE 3Q2014 4Q2014 1Q2015 2Q2015 ■Increased FX Market volatility led to 84% YoY growth in FX derivatives trading, which comprised 60% of total trading volumes on Derivatives Market versus 42% in 2Q2014 ■Futures on indexes and single-stocks contracted by 22% YoY in contract terms ■Fees and commissions declined 4% due to lower fees for FX-based futures as compared to single-stocks and indexes futures Source: Moscow Exchange operational information and Consolidated Financial Statements 29 29

View entire presentation