Fund Investment Objective:

The Holding plans to invest in shares (the "Investments") of OJSC MICEX-RTS (the “Exchange”), the entity created by the merger of MICEX Stock Exchange (the largest stock exchange in Russia) and Russian Trading System (the leading derivatives Russian stock exchange).

The Holding's investment objective is to generate long-term value for its investors through capital appreciation of the Investments with some value deriving from further development of the Exchange.