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2 2 0.0 1 -0.2 0 -0.4 Oct Nov Dec Apr May Mar Aug Sep Jan Jun Jul Feb -1 Jan-17 Jul-17

14 Central Bank Survey (millions of rubles, end of period) Dec, 2016 Dec, 2017 Dec, 2018 NET FOREIGN ASSETS 22,343,040 24,356,989

2 0.0 1 -0.2 0 -0.4 Oct Apr Nov Dec Mar May Aug Sep Jan Jun Jul Feb -1 Jan-17 Jul-17 Jan-18

14 Central Bank Survey (millions of rubles, end of period) Dec, 2016 Dec, 2017 Dec, 2018 NET FOREIGN ASSETS 22,343,040 24,356,989

Key rate introduced Floating exchange announced targeting management set rate introduced Dec. 2017 Dec. 2018 Inflation targeting is communications “Floating rate and Instruments are represented

15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2012 2013 2014 2015 2016 2017 2018 2019 Average Source: Federal Treasury

Key rate introduced Floating exchange announced targeting management set rate introduced Dec. 2017 Dec. 2018 Inflation targeting is communications “Floating rate and Instruments are represented

3 3 2 0.0 1 0 -0.3 Oct Apr Nov Dec Mar May Aug Sep Jan Jun Jul Feb -1 Jan-17 Jul-17 Jan-18

14 Central Bank Survey (millions of rubles, end of period) Dec, 2016 Dec, 2017 Dec, 2018 NET FOREIGN ASSETS 22,343,040 24,356,989

Key rate introduced Floating exchange announced targeting management set rate introduced Dec. 2017 Dec. 2018 Inflation targeting is communications “Floating rate and Instruments are represented