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                Risk Management Risk Management  
                Annual General Meeting of Shareholders of the Moscow Exchange Annual General
                Meeting of Shareholders
                of the Moscow Exchange
                Nomination and Remuneration Committee recommendations for 2016 Board Membership Nomination and
                Remuneration
                Committee
                recommendations
                for 2016 Board Membership
                Trading calendar

                Trading hours are from 6:50 to 23:50 for the Equity & Bonds Market and from 07:00 to 23:50 for the Derivatives, FX and Commodity Markets. All times are Moscow time.

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                Options expiration date. The evening trading session on Derivatives Market starts at 7.05 pm Moscow time.
                Trading calendar
                Trading hours are from 6:50 to 23:50 for the Equity & Bonds Market, FX and Commodity Markets and from 07:00 to 23:50 for the Derivatives. All times are Moscow time.
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