3Q 2021 Financial Overview

☑ Dual listed stocks virtual index spread dynamics Analysis provided by Liquid Metrix MOEX vs LSE market share (MICEX Virtual Index¹) LSE MOEX Average Bid-ask spread 50k EUR deal (b.p.2) 2019 2018 21% 18% 31% 45% 44% 42% 42% 37% Bid - ask spread 1 Contract 3.9 (b.p.) 79% 82% 69% 63% 55% 56% 58% 58% Bid -ask spread 50k EUR deal (b.p.) 13.5 2014 2015 2016 2017 2018 2019 2020 10M'21 ◉ 9.4 22.1 3.0 7.7 16.2 10.0 MOEX LSE MOEX LSE Moscow Exchange is the liquidity center for Russian securities with >80% market share in total trading volumes Aggregated spreads for most liquid dual listed stocks are substantially lower in Moscow implying lower all-in trading costs Spreads measure the bid to offer spread of the best visible orders in the book, the result is based on measurements of the order books every 30 seconds MOSCOW EXCHANGE Data as of 29 October 2021 1. MICEX Virtual Index - index calculated based on prices and EOB data of the most liquid Russian dual listed stocks. Data since December 2015 include trading auctions on MOEX. Data for March-April 2018, January-December 2020, January-August 2021 are based on Bloomberg data for LSE, data for other periods were provided by Liquidmetrix. Data for MOEX includes evening trading session. The value of the spread is quoted in basis points (0.01%) 2. Source: Liquid Metrix 58

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