1Q 2018 Business Overview

1Q 2018 19% Depository and Settlement Assets on deposit (average for the period) RUB trn Other OFZ Equities Corporate and regional bonds +15.7% 41.3 39.0 35.7 37.3 35.1 13% 14% 13% 15% 14% 43% 46% 43% 42% 42% 16% 17% 17% 17% 16% 24% 26% 26% 26% 27% Fee & commission income breakdown 1Q 2018 collateral management services 0.5% clearing book-entry transfers 3% 4.8% 13% 1% 7.9% 6% Safekeeping Depository transactions and clearing services Services for issuers Settlement and cash services Other 77% 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Fee & commission income RUB mln +5.6% 991 1,001 1,083 1,109 1,046 Comments F&C increased 5.6% YoY, primarily due to growth in average assets on deposit (+15.7% YoY). The growth in assets on deposit was universal across all asset classes. Corporate bonds on deposit grew by 29.4% YoY, OFZS (federal government bonds) grew by 17.1% YoY and equities grew by 8.4% YoY. While income from safekeeping remained strong, fees from repo with collateral management services through NSD declined due to lower volumes. 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 ☑ MOSCOW EXCHANGE Source: Moscow Exchange operational information and Consolidated Financial Statements 41

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