Fixed Income Market Presentation

Key developments in 2Q and July 2015 ✓ Record high dividends MOEX paid FY2014 dividend of RUB 8.8 bln, or 55% of IFRS net profit, with a dividend yield of 5.2% New placements and listings ■ Credit Bank of Moscow (MOEX: CBOM) completed an IPO on MOEX, raising RUB 13.2 bln ■ United Wagon Company (MOEX: UWGN) completed an IPO on MOEX, raising RUB 9.0 bln Strong YoY recovery (+85%) in fixed income issuance in both corporate and sovereign segments, including first issuance under a new on-exchange debt raising mechanism ✓ Corporate governance - MOEX's inaugural Corporate Governance Guidelines approved by the Supervisory Board, establishing a framework to further strengthen corporate governance at the company ✓ Local investor base development ■ Individual investment accounts (IIA) beat expectations: more than 39 700 IIAs registered during 7M 2015 ✓ Strengthening the product offering ■ Migration from T0/T2 to T+1 completed for Russian federal government bonds (OFZ) with a new liquidity support program introduced for T+1 to assist participants' transition to the new settlement cycle ✓ New strategic partnerships ■ MOEX and China Financial Futures Exchange signed a memorandum of understanding (MoU) aimed to strengthen bilateral partnership through closer cooperation in various areas ☑ MOSCOW EXCHANGE 11

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