INFORMATION FOR SHAREHOLDERS AND INVESTORS

SHARE CAPITAL

In 2023, Moscow Exchange’s share capital remained unchanged. As of 31 December 2023, 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. They are also in the sectoral index for Finance and the equity sub-index of the Pension Savings Assets Index. As of 1 February 2023, Moscow Exchange shares were included in the thematic sustainability indices, such as MOEX-RSPP Responsibility & Transparency Index, MOEX-RSPP Sustainability Vector and MOEX-RAEX ESG Indices.

The Exchange has no shareholders possessing 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 2023, the total number of MOEX shareholders was 485,523, including 484,106 individual shareholders. MICEX-Finance, a controlled entity of the Exchange, held 15,716,469 shares (0.690% of the share capital).

In 2021, 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

Registry company STATUS keeps the register of Moscow Exchange’s shareholders.

Registry company STATUS keeps the register of Moscow Exchange’s shareholders.

www.rostatus.ru.

MOEX SHARE PERFORMANCE

As of the last trading day of 2023, Moscow Exchange’s market capitalization was RUB 430,5 bln (versus RUB 217.2 bln as at the end of 2022).

In 2023, the average daily trading volume (ADTV) of the Exchange’s shares was RUB 1.1 bln (versus RUB 645 mln in 2022).

DIVIDENDS

For 2023, Moscow Exchange’s Annual General Meeting of Shareholders (AGM) resolved to distribute dividends in the amount of RUB 4.84 per share. In total, RUB 11.0 bln was allocated for the payment of dividends, equivalent to 30% of the 2023 IFRS consolidated net income of the Exchange.

On 27 September 2023, the Supervisory Board approved a new dividend policy that set a minimum divided at 50% of net profit of the Group according to IFRS. Dividend payments are made at least once a year. The target level of the profit allocated for dividend payment is determined as the free cash flow to equity (FCFE). Free cash flow for dividend policy purposes includes necessary capital expenditure to maintain the business and investments in further development, as well as regulatory requirements for Moscow Exchange and its subsidiaries.

5 March 2024, the Exchange’s Supervisory Board recommended that shareholders at the AGM approve the payment of dividends based on the Exchange’s 2023 results in the amount of RUB 17.35 per share. In total, it was recommended to allocate RUB 39.5 bln for the payment of dividends. If the AGM approves dividends at this level, the dividend payment for 2023 will be equivalent to 65% of IFRS net income for 2023.

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 strengthening 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.

In 2023, Moscow Exchange’s management held 243 meetings (also online) with institutional investors and analysts and took part in the Smart-lab conference in St. Petersburg and Moscow They met with the Russian private investor community and attended several conferences hosted by Russian major brokers.

In total, Exchange management was in contact with 107 institutional investors and 11 sell-side analysts in 2023.

MOEX also places strong emphasis on engaging with retail investors. The number of retail shareholders exceeded 484,000 as of the end of 2023. Against the backdrop of the growing activity of individuals on the stock market, Moscow Exchange is implementing a number of initiatives aimed at improving the financial literacy of individual investors (see the “Exchange and the Community” chapter). Moscow Exchange management participates in a wide range of public events and webinars organised by Moscow Exchange and external partners.

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 2023, the market consensus forecast for MOEX shares based on forecasts of seven analysts was RUB 242.43 per share.