Investor Presentaiton

☑ Key developments in 2014 ✓ MOEX infrastructure performed well during turbulent periods Volatility spiked in March, October and December - performance proved soundness of risk-management systems amidst challenging environments ■ MOEX strives to ensure uninterrupted trading, clearing and settlement during periods of particularly high volatility ✓ International Central Securities Depositories (Euroclear and Clearstream) launched services for Russian corporate bonds and equities Corporate bonds became eligible for ICSDS settlement services from 1 January 2014 and equities from 1 July 2014 ✓ MOEX completed reforms to the listing process, simplifying the quotation list structure and also strengthening listing requirements for issuers ■ New listing rules are based on a new Corporate Governance Code adopted in 2014 National Settlement Depository (NSD) initiated a corporate action reform programme to make corporate actions by Russian companies electronic and eliminate cumbersome paperwork for investors ✓ MOEX now has one of the highest free-floats among Russian issuers - more than 50% ■ The CBR placed to the market USD 469 mln (stake of 11.7%) in MOEX, which led to an increase in the free-float Dispersed ownership with no controlling shareholder MOSCOW EXCHANGE 11

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