Moscow Exchange MICEX RTS : Sustainability report of Moscow Exchange 2023

SUSTAINABILITY REPORT | 2023

MOEX.COM

PROGRESSING TOGETHER

MOEX.COM | SUSTAINABILITY REPORT | 2023

MOSCOW EXCHANGE 2023

SUSTAINABILITY REPORT

Overview of Moscow Exchange Group's reporting suite����������������������������������������������������� 2

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

2023 SUSTAINABILITY PERFORMANCE HIGHLIGHTS ��������������11

Statement from the Chief Executive Officer12

Integrating ESG principles

into the 2024 Group Strategy ������������������������ 14 Moscow Exchange Group Profile ������������������22 2023 Sustainability Milestones����������������������24 MOEX GROUP'S FOCUS AREAS�������������������26

Genuine corporate governance

and business ethics ���������������������������������������������������� 26

Respect for human rights, equal opportunities

and staff engagement ������������������������������������������������ 34

Environmentally friendly and trusted market infrastructure ��������������������������������������������������������������� 39

Resource efficiency and environmental

impact ��������������������������������������������������������������������������� 43

Advanced practices of responsible

investing������������������������������������������������������������������������ 45

Trusted relations with

local communities ������������������������������������������������������� 54

SUSTAINABILITY DATA �������������������������61

Genuine corporate governance

and business ethics ������������������������������������������62

Respect of human rights, equal opportunities and engagement of staff��������68

Environmentally friendly and trusted

market infrastructure���������������������������������������82

Resource efficiency

and environmental impact ������������������������������84

Advanced practices of responsible

investing ������������������������������������������������������������ 90

Trusted relations with

local communities ��������������������������������������������94

SUSTAINABILITY APPROACHES		APPENDIСES ����������������������������������������	147
AND PROCEDURES�������������������������������	97	Appendix 1. Statement
MOEX Group's focus areas: 'GREAT'������������	98	of Moscow Exchange
Genuine corporate governance		on compliance with the principles
	of the UN Global Compact����������������������������	148
and business ethics ����������������������������������������������������	98
Respect for human rights, equal opportunities		Appendix 2. Statement
and staff engagement ������������������������������������������������	111	of Moscow Exchange
Environmentally friendly and trusted		on respect for human rights
market infrastructure �������������������������������������������������	117	and counteracting modern slavery���������������	151
Resource efficiency ����������������������������������������	124	Appendix 3. GRI content index ��������������������	153
and environmental impact	Appendix 4. SASB metrics����������������������������	170
Advanced practices
of responsible investing ��������������������������������������������	126	Appendix 5. Independent
Trusted relations		Auditor's Report����������������������������������������������	173
with local communities ���������������������������������������������	136	Appendix 6. Glossary �������������������������������������	176
		Appendix 7. Contact Details �������������������������	179

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MOEX.COM | SUSTAINABILITY REPORT | 2023

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

OVERVIEW OF MOSCOW EXCHANGE GROUP'S REPORTING SUITE

Structure of the report

For the convenience of the Report's users, the Group has decided to use a similar structure to that

GRI Content Index

This index consolidates all the GRI disclosures published in the Report, allowing for easier navigation through its sections. It also contains remarks

2023 Annual Report

The2023 Annual Reportprovides

THE 2023 SUSTAINABILITY REPORT

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of its 2022 Sustainability Report; accordingly, there are three main sections: "2023 Sustainability Performance Highlights", "Sustainability Data", "Sustainability Approaches and Procedures".

The appendices include, "Statements", "GRI Content Index", "SASB metrics", "Independent Auditor's Report", "Glossary", and "Contact Details".

on the disclosures.

SASB metrics

This index includes metrics pertinent to the SASB Security & Commodity Exchanges standard.

comprehensive information on the business model, strategic priorities, products, corporate governance system, and operational and financial results of Moscow Exchange Group for the year ended 31 December 2023.

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2023 financial statements

The2023 financial statementsdescribe Moscow Exchange Group's financial position as of 31 December 2023.

Investor presentations

The2023 investor presentationsoutline trends in Moscow Exchange Group's key operational and financial results, describe products

and services for customers, and present the Group's position on the global market.

Moscow Exchange published its fifth sustainability report (the "Report") not later than June 30, 2024, which contains information on its responsible business practices in the calendar year ended 31 December 2023. It is an important tool for communicating with stakeholders.

The Report also provides information on the mission and strategy of Moscow Exchange, management approaches, and key events in the reporting year.

It sheds light on significant topics1 such as responsible investment, decent working conditions, sustainable financial infrastructure, financing, and corporate governance. Likewise, it describes the position

of the Group regarding climate change, discerning use of resources, charity, and other environmental and social issues.

The Group publishes a sustainability report every year. The previous report was published in June of 2023.

In accordance with the Charter of the Moscow Exchange, the authority to approve the report is vested in the Executive Board.

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The 2023 Moscow Exchange Sustainability Report was made with professional assurance of FBK LLC, an independent auditor, to insure2 that the qualitative and quantitative information disclosed in the Report is disclosed accordance with the GRI Standards and the SASB Security & Commodity Exchanges standard

2023 Sustainability Performance Highlights

This section presents key initiatives and achievements of Moscow Exchange in 2023. These were implemented in line with the Group's Sustainability Roadmap. The section also describes measures taken to apply sustainability principles in accordance with the 2028 Group Strategy. The section contains information on Moscow Exchange's plans and objectives for 2024 and in the midterm.

Sustainability Data

The section discloses the key metrics

of the Exchange's sustainability performance

in 2019, 2020, 2021,2022, and 2023. The structure of this section corresponds to the "2023 Sustainability Performance Highlights" section, as well as the "Sustainability Approaches and Procedures" section.

Sustainability Approaches and Procedures

This section provides information on the approach of Moscow Exchange at the management level to key areas of sustainable development, including

an overview of corporate policies, codes, procedures, and responsible departments. The information

in this section supplements the "2023 Sustainability Performance Highlights" section, the "Sustainability Data" section, and Moscow Exchange's 2023 Annual Report.

Guidelines and standards used in preparing the Report

This Report has been prepared in accordance with the GRI Standards: Core option; however, the requirements and recommendations of other standards and guidelines were taken into account

as well as well as taking into account the requirements and recommendations of the following standards and guidelines: Methodological recommendations for the preparation of reports on sustainable development of the Ministry of Economic Development of the Russian Federation (approved by order No. 764 dated November 1, 2023);. WFE ESG Guidance & Metrics (2018), the SASB Security & Commodity Exchanges standard (2018), and the Task Force on Climate-related Financial Disclosures (2017).

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When preparing the 2023 Report the Group made the following changes:

• Data for 2022 on environmental expenditures and investments have been updated based on statistical reporting forms.

1. For detailed information on material topics, see the section "MOEX Group's approach to materiality".
2. The audit was carried out in accordance with ISAE 3000 (revised): "Assurance Engagements Other than Audits or Reviews of Historical Financial Information".

(for selected information). The auditor's report, which provides limited assurance regarding selected information, is included as an appendix to this Report.

The selection of an organisation for professional assurance is carried out on an annual basis through an open competitive procedure, an agreement

is concluded with the Chairman of the Board or an authorised member of the Board.

Statements

Moscow Exchange Group supports a number

of international initiatives and organisations; it shares their principles, integrating their requirements and recommendations into its activities. The "Statements" appendix outlines the Group's position on a number of vital issues, including:

• Moscow Exchange's statement on compliance with the Principles of the UN Global Contract;
• Moscow Exchange's statement on observance of the anti-slavery policy and the protection of human rights.

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MOEX.COM | SUSTAINABILITY REPORT | 2023

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

Reporting boundaries

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The reporting boundaries include entities of Moscow Exchange Group: Moscow Exchange, included

in the perimeter of the consolidated financial statements, the largest of which are the National Settlement Depository (NSD), and the National Clearing Centre (NCC).

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In this Report, "Moscow Exchange" and "MOEX" mean the organisation whose full corporate name as stated in its Articles of Association is Public Joint- Stock Company Moscow Exchange MICEX-RTS "Moscow Exchange Group", or simply the "Group", means the pool of companies that are part of Moscow Exchange Group; they fall within the scope of this Report.

The information about shareholders owning five or more percent of MOEX shares is included

in the chapter "Share Capital" of the section "Information for Shareholders and Investors" of current Annual Report for 2023.

The boundaries of the indicators are indicated

in the "Sustainability Data" section. Any information that pertains to different combinations of subsidiaries is accompanied by appropriate disclaimers.

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The reporting information is disclosed within two reporting perimeters:

• the first perimeter comprises information pertinent to Moscow Exchange, NSD, NCC and other major entities;
• the second perimeter comprises information pertinent to Moscow Exchange.

Step 1

Defining the context of the activities

• Analysis of all sustainable development objectives of the MOEX Group
• Linking of objectives to the UN Sustainable Development Goals
• Analysis of the proposed topics in the GRI and SASB standarts
• Identification of the stakeholders affected by each objective
• Identification of 29 potential substainability topics related to Moscow Exchange business

Step 2

Identifying actual and potential impacts

Analysis of the sourses of feedback from the following stakeholders:

• Regulators and government authorities: Bank of Russia recommendations, SD legislation and bylaws
• Stakeholders and investors: investor perception surveys1
• Professional associations and ESG agencies: assessment criteria for ESG agencies
  and recommendations from assosiations
• Employees: employee angagemant assessments and other staff surveys
• Market participants and their clients: resulting satisfaction score
• Issuers: issuer survey on ESG awareness

MOEX GROUP'S APPROACH TO MATERIALITY

3-13-22-14

Determining material topics for the Report is an essential part of preparing non-financial statements as per the GRI Standards. The purpose of this procedure is to study and identify

the economic, environmental, and social issues that are most impacted by Moscow Exchange on its stakeholders.

The new GRI standards that came into force required a new prioritisation of material topics based on a combination of negative and positive impacts on stakeholders. The Moscow Exchange Group

Sustainable Development Goals Working Group (SDG WG), formed by the Executive Board's decision of 16 November 2021 (Minutes No. 84), as part

of the preparation of the Sustainability Report 2022 conducted a four-step procedure to identify material topics.

Step 3

Assessing the significance

of actual and potential impacts

Conducted a survey of 12 managers of the MOEX Group Sustainability Goals Working Group

to identify:

• potential and actual positive impacts on stakeholders
• potential and actual negative impacts on stakeholders

Step 4

Defining priorities

• Testing and validation of material topics by the expert group
• Approval of material topics by the SDG Working Group
• Disclosure and professional assurance of indncators of material topics
  in the Sustainability Report

The list of analysed topics was expanded from	the list of material sustainability topics was approved
16 in the 20202 analysis to 29; of these, 17 were	by a decision of the Moscow Exchange Executive
recognised as material based on the stakeholder	Board dated 25 April 2023 (Minutes No. 29).
impact criterion. Based on the results of prioritisation,

1. Perception studies have not been conducted since 2022.
2. The matrix and the list of material topics for 2020 reporting period may be found in Sustainability Report of Moscow Exchange 2021:https://fs.moex.com/files/24514/

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MOEX.COM | SUSTAINABILITY REPORT | 2023

Materiality Matrix

		5.00
	high
	Critically	4.00
																																							1
	high																																			3			2
																																		4
	Extremely																													7, 9		5, 6
																									10
		3.00																								11
																								13					8, 12
																		18, 19			14, 16, 17
negativeimpact																	21
																				15
Tangible														22		20
											25, 26, 27
2.00										23, 24
potentialand	Insignificant									28
						29
		1.00
of actual	Absent
Level	0.00
				0.00			1.00					2.00												3.00											4.00		5.00
				Absent	Insignificant	Tangible								Extremely high						Critically high
				Level of actual and potential positive impact
	Area of material topics1
Material topics
1	information security												10	fair labour relations
2	sustainable technological development							11 ensuring diversity and equal opportunities for staff
3 compliance with laws and regulations												12 sustainability sector and ESG-indices
4 ensuring the health, safety and well-being of staff							13	carbon units market
5	financial literacy												14 staff training and development
6 quality of corporate governance												15 equal opportunities and human rights
7 public and regulatory policy influence							16 management of sustainable development risks
8 development of business ethics and compliance culture							17 investments to innovation, small and medium-sized
9	stimulating ESG-practices														enterprises (SME)
Non-material topics
18	sustainable supply chain												24 respect for human rights by security personnel
19	sustainable development partnerships							25 support for freedom of association and collective bargaining
20 marketing communications												26 recycling and reuse of materials
21 economic impact on the region of presence							27 customer health and safety
22 charity and sponsorship												28 biodiversity conservation activities
23 achievement of environmental efficiency							29 rights of indigenous peoples

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OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

Material topics

Impact

Topic name

Impacted stakeholders

GRI and SASB standards

rating1

8.58

1. Information Security

Market participants and their clients

Customer Privacy (2016)

GRI 418

FN-EX-550a.2

7.92

2. Sustainable

Market participants and their clients

FN-EX-410a.1

Technological

Moscow Exchange shareholders

FN-EX-550a.1

Development

and investors

FN-EX-000.A

FN-EX-000.B

7.75

3. Compliance with

Regulators and state authorities

laws and regulations

(Bank of Russia, Federal Executive

and Legislative Bodies)

7.17

4. Ensuring the health,

Employees

Professional Health and Safety

GRI 403

safety and well-being

(2018)

of staff

7.17

5. Financial literacy

Market participants and their clients

Local Communities (2016)

GRI 413

Residents of the region of presence

GRI 203

Indirect Economic Impacts (2016)

7.08

6. Quality of Corporate

Moscow Exchange shareholders

Governance

and investors

6.67

7. Public and Regulator

Regulators and state authorities

: Public Policy (2016)

GRI 415

Policy Influence

(Bank of Russia, Federal Executive

and Legislative Bodies)

Professional Associations

and ESG-Agencies

Development institutions

and International Organisations

6.58

8. Development of

Employees

: Anti-corruption (2016)

GRI 205

business ethics and

GRI 206

: Anti-competitive Behaviour (2016)

compliance culture

FN-EX-

510a.1

FN-EX-510a.2

6.33

9. Stimulating

Issuers

: Indirect Economic Impacts (2016)

GRI 203

ESG-practices

Professional Associations

FN-EX-

410a.3

and ESG-Agencies

FN-EX-410a.4

FN-EX-510a.1

6.33

10. Fair Labor Relations

Employees

: Employment (2016)

GRI 401

GRI 402

: Labour Management Relations

(2016)

6.17

11. Ensuring

Employees

: Diversity and Equal Opportunity

GRI 405

Diversity and Equal

(2016)

Opportunities for staff

GRI 406

: Non-discrimination (2016)

6.17

12. Sustainability sector

Issuers

: Indirect Economic Impacts (2016)

GRI 203

and ESG-indices

Market participants and their clients

5.92

13. Carbon Units Market

Issuers

: Indirect Economic Impacts (2016)

GRI 203

Market participants and their clients

Regulators and state authorities (Bank of Russia, Federal Executive and Legislative Bodies)

Development institutions

and International Organisations

1 The integral rating of a material topic is calculated as the sum of the levels of positive and negative impact on stakeholders

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MOEX.COM | SUSTAINABILITY REPORT | 2023

Impact	Topic name	Impacted stakeholders	GRI and SASB standards
rating1
5.83	14. Staff Training and	Employees					: Training and Education (2016)
GRI 404
	Development
5.83	15. Equal opportunities	Issuers					: Child Labour (2016)
GRI 408
	and Human Rights	Employees	GRI 409	: Forced or Compulsory Labor
		(2016)
5.83	16. Management	Moscow Exchange shareholders		: Economic Performance (2016)
GRI 201
	of sustainable	and investors
	development risks	Regulators and state authorities
5.75	17. Investments	Issuers			: Indirect Economic Impacts (2016)
GRI 203
	to Innovation, small	Development institutions and
	and medium-sized
	International Organisations
	enterprises
Other material topics that can be disclosed selectively
5.25	18. Sustainable Supply	Suppliers and contractors			Supplier Social Assessment (2016)
GRI 414
	Chain		GRI 308		Supplier Environmental
			Assessment (2016)
5.25	19. Sustainable	Professional Associations
	Development	and ESG-Agencies
	Partnerships	Development institutions

and International Organisations

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OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

Impact	Topic name	Impacted stakeholders	GRI and SASB standards
rating1
5.00	20. Economic	Residents of the region of presence			: Economic Performance (2016)
GRI 201
	impact on the region	Regulators and state authorities		GRI 202	: Market Presence (2016)
	of presence		GRI 207: Taxes (2019)
	(Bank of Russia, Federal Executive
		and Legislative Bodies)
4.75	21. Charity and	Residents of the region of presence				: Indirect Economic Impacts (2016)
GRI 203
	sponsorship
4.50	22. Achievement	Residents of the region of presence			: Energy (2016)
GRI 302
	of Environmental		GRI 303	: Water and Effluents (2018)
	Efficiency		GRI 305	: Emissions (2016)
			GRI 306		: Waste (2020)
4.42	23. Support	Employees		: Freedom of associations and
GRI 407
	for freedom		collective		bargaining (2016)
	of association and
	collective bargaining
4.42	24. Recycling and reuse	Residents of the region of presence
	of materials
3.83	25. Measures for	Residents of the region of presence			: Biodiversity (2016)
GRI 304
	the conservation of
	biodiversity

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MOEX.COM | SUSTAINABILITY REPORT | 2023	OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
	MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
	GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

2023

SUSTAINABILITY

PERFORMANCE

HIGHLIGHTS

Statement from the Chief Executive Officer�������������������������������������������������������������������������� 12 Integrating ESG principles into the 2024 Group Strategy��������������������������������������������������� 14 Moscow Exchange Group Profile ��������������������������������������������������������������������������������������������22 2023 Sustainability Milestones������������������������������������������������������������������������������������������������ 24 MOEX GROUP'S FOCUS AREAS��������������������������������������������������������������������������������������������� 26

Genuine corporate governance and business ethics���������������������������������������������������������������������������������������������������������26

Respect for human rights, equal opportunities and staff engagement �������������������������������������������������������������������������34

Environmentally friendly and trusted market infrastructure �������������������������������������������������������������������������������������������39

Resource efficiency and environmental impact �����������������������������������������������������������������������������������������������������������������43

Advanced practices of responsible investing ���������������������������������������������������������������������������������������������������������������������45

Trusted relations with local communities����������������������������������������������������������������������������������������������������������������������������54

MOEX.COM | SUSTAINABILITY REPORT | 2023

STATEMENT FROM THE CHIEF

EXECUTIVE OFFICER

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

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Dear partners, investors and market participants,

We are pleased to present the Moscow Exchange's report for 2023. The past year has seen the company play an active role in the dynamic development

of the industry. I would like to highlight the key areas of our sustainable development activities.

Genuine corporate governance and business ethics

Following strategic meetings to discuss various aspects for the MOEX Group's business development, the Supervisory Board approved a new group strategy until 2028 in September 2023. The main emphasis of the new strategy is on developing capital markets through the expansion of ESG product offerings and capital-raising opportunities for SMEs.

Respect for human rights, equal opportunities and staff engagement.

For us, people development is one of key factors

in achieving new ambitions targets. In 2023, training hours reached 15 hours per employee. This represents an increase of 80% across the MOEX Group.

Environmentally friendly and trusted market infrastructure.

We continued to strengthen the market participants' confidence by ensuring the uninterrupted operation of the exchange infrastructure. In 2023, accessibility of IT systems was 99.98%. In doing so, we keep

in mind the challenges associated with low-carbon development.

In 2023, the Supervisory Board approved the first ever Moscow Exchange Environmental Policy. The key objectives of the Moscow Exchange Environmental Policy include facilitating the transition to a circular and low-carbon economy and minimising own direct and indirect negative impacts on the environment and climate.

In pursuit of our Environmental Policy objectives,

we have continued switching offices and data centres to green contracts. As a result, the share of electricity generated from renewable energy sources increased from 72% to 92% of the Group's total electricity consumption. The initiative resulted in a decrease

of indirect greenhouse gas emissions from electricity consumption by 791 tonnes of CO2, representing a 73% reduction from the 2022 level.

Developing best practices in responsible investment

Regardless of the changes in the global market,

we are seeing a consistent rise in demand for investing in green and social responsibility projects. In 2023, the total value of bonds placed in the Sustainability Sector was more than RUB 140 billion, with a total

of RUB 379 billion of securities traded in the sector.

We also continue to create an environment for SMEs to grow and develop. In 2023, two shares and 67 bond issues of 40 SMEs were traded in the Growth Sector. SME bond issues in 2023 amounted to RUB 11.3 billion in total.

The Innovation and Investment Market continues to grow. In 2023, the Innovation and Investment Market sector saw seven bond placements with

a total volume of RUB 28 billion, one IPO and one SPO with a volume of RUB 179 million and RUB 3.5 billion respectively.

A key product of the low-carbon economy

is the auctioning of carbon units. In 2023, the second on-exchange auction in carbon units was held with a total value of 2,735 carbon units generated from the implementation of the climate project to reduce greenhouse gas emissions.

Trusted relations with local communities

Improving the financial literacy remains a key project for Moscow Exchange focused on engaging with all members of the community. In 2023, we held more than 270 financial literacy improvement events. Therefore, the learning content of Moscow Exchange in the period 2021-2023 has been accessed by over

2.24 million individuals, including over 700,000 in 2023.

In 2023, the charitable activities of Moscow Exchange were focused on the support of Russian universities, which received more than RUB 110 million.

In concluding, I thank our employees, clients, partners and other stakeholders for their ongoing support and contribution in the development of Moscow Exchange.

We strongly believe that our work in promoting

the sustainable development agenda is an important contribution to the social and economic development of the Russian Federation. Our focus remains

on attaining ambitious new goals in this domain, with the aim of creating a financial market that is increasingly transparent, sustainable, and responsible.

Sincerely yours,

Chief Executive Officer, Moscow Exchange

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MOEX.COM | SUSTAINABILITY REPORT | 2023

INTEGRATING ESG PRINCIPLES

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

3 BUSSINESS DIRECTIONS

INTO THE 2024 GROUP STRATEGY

MISSION AND PRIORITIES OF THE 2024 STRATEGY

1. Capital market development

1. Issuers and instruments.

Increasing the number

of instruments and issuers

2. Attracting the final customer to the market

1. Finuslugi - top-1 financial

platform operator in Russia

3. International access

1. Saving links with foreign

investors

In September 2023, the Moscow Exchange Supervisory Board approved the Group's new development strategy until 2028.

In the context of external constraints, the new strategy is largely based on trends in the Russian market. These include the increasing role of the retail investor, who is becoming one of the key demand providers in a number of financial market segments, the development of digital financial asset (DFA) turnover, and the growing need of Russian companies to raise capital in the domestic market.

The development of capital markets is the most important priority of the new strategy. To promote this direction, the company will expand the list of instruments, including ESG products, and work to improve their liquidity. The company will focus on working with issuers to raise capital market financing for companies through equity, bond and DFA offerings, including through OTC and investment platforms.

The key provisions of the new development strategy naturally continue the previous strategies and

on the market

2. Liquidity. Re-creation

of market-maker class

in the domestic market

3. Extension of the offer

ESG-products

2. DFA1 and UDP2 - main

exchange operator in Russia

3. Best terminal and data,

including those based on AI

tools, roboadvisory

2. Development of foreign

instrument on Moscow

Exchange

3. Supplying technologies

to EAEU and exploration of

markets

are based on the strengths of Moscow Exchange's business model and the key competences

of its employees.

3 ENABLERS OF FUTURE ACHIEVEMENTS

Our mission: We transform		Vision: We aim to become the number
the financial market for the growth		one choice for comprehensive and
of everyone's wealth.		effective financial management.

The 2028 Group Strategy outlines six priorities, among which three are business lines and three are success drivers.

1. Transformation

of corporate culture and processes

Values, acceleration of processes to reduce time- to-market and other, best practices of digital onboarding and remote maintenance

2. Promotion

of investment culture

Increasing of long-term investment, financial and investment literacy, promotion of financial industry interests

3. Applying the most advanced technologies and solutions

Leadership in OpenAPI, AI, blockchain

MOEX.COM

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1. DFA - digital financial asset.
2. UDP - utilitarian digital rights.

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MOEX.COM | SUSTAINABILITY REPORT | 2023

THE ROLE OF THE SUSTAINABLE DEVELOPMENT

AGENDA IN THE 2028 GROUP STRATEGY

OVERVIEW OF		2023 SUSTAINABILITY		SUSTAINABILITY DATA		SUSTAINABILITY		APPENDICES
MOSCOW EXCHANGE		PERFORMANCE				APPROACHES
GROUP'S REPORTING SUITE		HIGHLIGHTS				AND PROCEDURES

THE SUSTAINABILITY OBJECTIVES

OF THE MOSCOW EXCHANGE GROUP

Under the new 2028 strategy, the capital markets development business line will focus on expanding the range of instruments and issuers, thereby opening up more opportunities for companies to raise capital, and expanding the range of ESG products available.

One of the driving forces behind success is fostering a culture that values investment, especially

by enhancing financial and investment literacy.

Key success drivers will include the transformation of corporate culture and processes, incorporating ESG principles and sustainability factors. Since 2020,

Moscow Exchange has been actively integrating these principles and factors into its strategic planning, corporate governance, risk management, HR management, and other areas of its activities and will work will extend into the future.

Furthermore, Moscow Exchange continues deepening its process for preparing non-financial statements and improving the quality, completeness, and transparency of non-financial disclosures, which cover, among other things, the results of the sustainability projects.

G

Genuine corporate governance and business ethics

R

G1 Corporate governance system

G2 Business ethics and compliance

G3 Supply chain management

G4 Expanding sustainability partnerships

R1 Employee engagement and effiency

R2 Learning and development

MOSCOW EXCHANGE'S SUSTAINABILITY ROADMAP

Respect for human rights, equal opportunities and staff engagement

R3 Diversity and equal opportunities

R4 Health, safety and well-being of employees

On 25 April 2023, the Executive Board of Moscow Exchange approved an updated Sustainability Roadmap for Moscow Exchange Group for 2023 (the "Roadmap"). The document outlines the Group companies' key sustainability activities related

to the UN Sustainable Development Goals (SDGs), key projects and 62 indicators of their implementation (metrics), and defines the responsibility

of the business units for the progress of the projects.

On 27 June 2024, the Moscow Exchange Executive Board approved the 2023 Roadmap Progress Report prepared by the Moscow Exchange Sustainable Development Goals Working Group (the "SDG WG").

Having analysed 58 metrics of the 2023 Sustainability Roadmap, the SDG WG made the following conclusions:

• 47 target metrics were achieved with no change in timing or parameters (27 were in the plan);
• 7 target metrics were implemented according to the pessimistic scenario;
• 4 metrics were cancelled.

At the same Moscow Exchange Executive Board meeting, the 2024 Roadmap was approved, comprising of 61 metrics across 24 objectives in five groups and topics.

E

Environmentally friendly and trusted market infrastructure

A

Advanced practices of responsible investing

E1 Risk management

E2 Information security

E3 Sustainable technological development

E4 Eco-efficiency and low-carbon development

E5 Market access and customer outreach

A1 Development of exchange-based sustainable financing

A2 ESG indices and market data

A3 Growth and IIM sectors

A4 Registry for and trading in carbon units

A5 Comminication of sustainability trends, standards and practices to issuers

A6 Improvement of Moscow Exchange's ESG disclosure and ESG ratings

T	T1	Financial literacy of retail investors
	T2	Charity and sponsorship
Trusted relations with local	T3	Business, educational and image-making events

communities

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