Rules of Forming the List of Securities – Constituents of RTS Index

1. Only securities admitted to trading on RTS Stock Exchange can be put on the list of securities – RTS Index constituents.
2. The statistics used to compile the list is gathered on the 3 months preceding the date of the revision of the RTS Index constituents' list.
3. The full list of securities admitted to trading is compiled.
4. The securities that do not meet the following minimum liquidity requirements are excluded from further consideration based on the following criteria:

   a) the average number of companies-brokers that submitted the "bid" quote for the security at the end of the trading session should equal or exceed 2;
   b) the average number of companies-brokers that submitted the "ask" quote for the security at the end of the trading session should equal or exceed 2;
   c) the average spread between the "ask" and the "bid" prices at the end of the trading session (compared to the buying price) is equal or less than 15%;
   d) this security should have two-sided quotes in the trading system at the end of the trading session for at least 90% of trading days of that period;
   e) daily average number of transactions in this security equals or exceeds 0.1;
   f) daily average trading volume in this security equals or exceeds 3000 US dollars.

5. Then the list is arranged by market capitalization of securities using the free-float coefficient.
6. The preliminary list of 50 securities with the largest capitalization – the potential RTS Index constituents –is compiled.
7. The Information committee reviews the list and the securities with limited market potential are excluded from the list.
8. The list is supplemented by other securities with the largest market capitalization to make sure the total number of constituents equals 50.
9. This new list is compared to the existing list of RTS Index constituents; upon the review of both, two lists are created:

   a) securities to be included to the list of Index constituents;
   b) securities to be excluded from the list of Index constituents.

10. Based on the expert decision, the Information Committee decides to include (exclude) each security under consideration to the list of RTS Index constituents, or puts this security on the waiting list until the next review of the list.