Moscow Exchange Financial Growth Presentation

11% 3Q 2020 Derivatives Market Trading volumes RUB trn Volatility index (RVI) Currencies Interest rates Equities Commodities Indices 40 44 32 21 20 +32.5% 33.6 31.9 27.2 24.1 27% 18% 20.4 25% 37% 32% 43% 55% 44% 36% 37% 4% 3% 3% -5% -5% 27% 22% 26% 28% 24% 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Fee & commission income RUB mln +17.5% 1,099 910 774 781 834 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 ☑ MOSCOW EXCHANGE Source: Moscow Exchange Open interest RUB bln +3.1% 701 657 646 626 515 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Comments F&C grew 17.5% YoY, trading volumes increased by 32.5% YoY. Trading volumes of FX derivatives doubled YoY, largely contributing to the volumes' growth. ■ Index derivatives' volumes added 44.7% YoY, while volumes of equity derivatives decreased by 25.3% YoY. Trading volumes of commodity contracts shrank by 35.8% YoY. The effective fee was down YoY due to: [1] a shift in the mix towards less profitable FX and index derivatives (79% in 3Q'20 vs 58% in 3Q'19), [2] lower share of options. 50

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