Information for investors

SHARE CAPITAL

In 2020, Moscow Exchange’s share capital remained unchanged. As of 31 December 2020, it amounted to RUB 2,276,401,458 and the number of outstanding ordinary shares stood at 2,276,401,458. Pursuant to the Exchange’s Charter, each share grants the right to one vote at the General Meeting of Shareholders.

The shares are traded on Moscow Exchange’s own trading platform (ticker: MOEX) and are included in the first-level quotation list. The shares are also a constituent of the Russian market benchmark indices, the MOEX Russia Index and the RTS Index, which are comprised of up to 50 stocks issued by Russia’s largest traded companies. The Exchange’s shares were also a constituent of the MOEX Index 10 (which is comprised of the 10 most liquid Russian stocks); they are also in the sectoral index for Finance and the equity sub-index of the Pension Savings Assets Index. In 2021, Moscow Exchange shares were included in three thematic sustainability indices: MOEX-RSPP Responsibility & Transparency Index, MOEX-RSPP Sustainability Vector Index and MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index.

The Exchange’s shares are included in a number of global indices, such as those calculated by MSCI, MV Index Solutions, S&P, FTSE, STOXX, Bloomberg, etc. The international index provider MSCI includes MOEX’s shares in the MSCI Russia Index and the MSCI Emerging Markets Index. As of 14 January 2021, the weight of MOEX shares in the MSCI Russia Index was 1.13%. MV Index Solutions includes the Exchange’s shares in the MVIS Russia Index, a benchmark for the largest ETF focused on the Russian stock market. As of 14 January 2021, the weight of MOEX shares in the index was 2.05%.

According to the information available to the Exchange, no shareholder possesses any degree of control over the company disproportionate to their holding of the Exchange’s share capital, as per a shareholder agreement or other agreement. The Exchange has not issued preferred shares, such as those with a different nominal value. The share capital structure does not include any instrument that would provide the holder control over the company disproportionate to its stake in the company.

As of 31 December 2020, the total number of MOEX shareholders was 192,314, including 191,210 individual shareholders. As of 31 December 2020, MICEX-Finance, a controlled entity of the Exchange, held 18,551,238 shares (0.815% of the capital).

In 2020, the Exchange executed no special-purpose related-party transactions with its shareholders. All transactions were of market nature and were executed on terms and conditions similar to those applied in transactions with other counterparties of the Exchange.

REGISTRAR

For more details, please visit the company’s website: www.rostatus.ru.

MOEX SHARE PERFORMANCE

As of the end of 2020, Moscow Exchange’s market capitalization was RUB 363 bn (versus RUB 245.3 as at the end of 2019). Since MOEX’s IPO in February 2013, the share price has increased by 174%.

In 2020, the average daily trading volume (ADTV) of the company’s shares increased more than twofold. MOEX’s shares remained one of the most liquid stocks on the Russian market, ranking 14th in terms of liquidity in the central order book.

* All quotes are in RUB.

** Versus ordinary and preferred shared admitted to trading on MOEX’s Equity Market, by trading volume in the main trading mode.

DIVIDENDS

For 2019, Moscow Exchange’s Annual General Meeting of Shareholders (AGM) resolved to distribute dividends in the amount of RUB 7.93 per share. In total, RUB 18.05 bn was allocated for the payment of dividends, equivalent to 89% of the 2019 IFRS consolidated net income of the Exchange. The Exchange’s Dividend Policy, which was approved by the MOEX Supervisory Board in October 2019, requires that dividends equal at least 60% of IFRS consolidated net income. The target level of the profit allocated for dividend payment is determined as the free cash flow to equity (FCFE).

On 26 March 2021, the Exchange’s Supervisory Board recommended that shareholders at the AGM approve the payment of dividends based on the Exchange’s 2020 results in the amount of RUB 9.45 per share. In total, it was recommended to allocate RUB 21.5 bn for the payment of dividends. If the AGM approves dividends at this level, the dividend payment for 2020 will be equivalent to 85% of IFRS net income for 2020.

In accordance with the Federal Law on Joint Stock Companies, the deadline for payment of dividends to a nominee registered in the shareholder register should not exceed 10 business days, and to other persons registered in the shareholder register - 25 business days from the dividend record date.

INVESTOR RELATIONS

Moscow Exchange engages with existing and prospective investors to provide them with an overview of the activities of the company and raise awareness of MOEX’s business with the aim of continually diversifying the shareholder base. Investor relations activities are scheduled in such a manner that any investor has the opportunity to interact with and ask questions of MOEX management at least once a year and receive all the information s/he needs in a timely manner in order to make reasonable investment decisions. It is one of Moscow Exchange’s priorities to adhere to the highest standards of information disclosure given its roles as both a public company and operator of Russia’s core financial markets infrastructure.

Amid the pandemic, communication with shareholders and investors went to an online format. In 2020, Moscow Exchange’s management held 261 meetings (also online) with institutional investors and took part in 15 international conferences for investors. It held online roadshows in cooperation with global brokers.

In total, in 2020, Moscow Exchange’s management contacted 129 institutional investors who, according to Nasdaq IR Insight, at the end of 2020 owned 38% of the company’s free float (as compared to 47% in 2019). 31% of business contacts were investors from North America, 22% from the UK, 24% from continental Europe, 12% from Russia, 3% from Asia and 7% from other regions.

MOEX also places strong emphasis on engaging with retail investors. The number of retail shareholders exceeded 192,000 as of the end of 2020. Since 2014, MOEX has run an annual Shareholder Day for retail investors, an event in the form of a conference call with representatives of senior management. At another such event on 24 April 2020, the management of the Exchange spoke about new projects and the company’s development prospects, as well as answered questions about corporate governance and initiatives to attract private investors to the Russian financial market.

INVESTORS’ OPINION ON INVESTOR RELATIONS AT MOSCOW EXCHANGE

Since 2014, Moscow Exchange has annually commissioned a perception study to learn more about how MOEX is viewed by investors and analysts.

ANALYSTS

MOEX’s performance is closely monitored by leading Russian and international banks.

They publish regular reports on MOEX’s shares as well as provide stock recommendations and financial forecasts.

As of 31 December 2020, the market consensus forecast for MOEX shares based on forecasts of eight analysts was RUB 163.0 per share.