1Q 2018 Business Overview

Best-in-class corporate governance standards Out of 12 members of the 2018-2019 Supervisory Board, 7 are independent (58% vs a minimum threshold of 20%¹) Four of the six Supervisory Board committees are chaired by independent directors The 2018-2019 Supervisory Board does not include any executive directors MOEX was a pioneer to adopt the new criteria of Director Independence aligned with the new Corporate Governance Code Supervisory Board members Anatoly Braverman First Deputy CEO at Russian Direct Investment Fund Andrey Golikov - Deputy Chairman Deputy Chairman of the Supervisory Board at Moscow Exchange Valery Goreglyad Chief Auditor at the Bank of Russia Yuriy Denisov Chairman of the Supervisory Board at National Clearing Centre Bella Zlatkis Deputy Chairman of the Executive Board at Sberbank of Russia Mikhail Bratanov Head of Securities Services in Russia and CIS at Société Generale Oleg Viyugin - Chairman Professor at Higher School of Economics Maria Gordon Member of the Supervisory Board at Alrosa Alexander Izosimov Director General at DRCAdvisors AB Anatoly Karachinsky President at IBS LLC Duncan Paterson Strategy Planning Audit Nomination and Remuneration Budget Technical Policy² Risk Management Chair Company Secretary at Talent First Limited Rainer Riess Chair Director General at Federation of European Securities Exchanges (FESE) Chair Chair Chair Chair ☑ MOSCOW * Independent directors EXCHANGE 10 1 2 The threshold is for stocks listed in the First level of the Quotation list as per the Listing Rules of Moscow Exchange The Technical Policy committee includes key industry IT professionals

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