Moscow Exchange: Risk Parameters Change For The Securities

The following risk parameters will be changed:

IR risk (downward scenario) - SECΔ_1 (Y0/Y1)

Ticker	Current value	New value	New value effective for
GAZP	35%	77%	18.07.2017 - 20.07.2017
FEES	35%	77%	17.07.2017 - 19.07.2017
SNGS	35%	77%	17.07.2017 - 19.07.2017
SNGSP	35%	77%	17.07.2017 - 19.07.2017

Market Risk Rate of the first, second and third level - S_1(2,3)_min

Ticker	Minimum Initial Margin for the Market Risk, % (S_1_min)		Minimum Initial Margin for the Market Risk, % (S_2_min)		Minimum Initial Margin for the Market Risk, % (S_3_min)		New value effective for
Ticker	Current value	New value	Current value	New value	Current value	New value
GAZP	14%	20%	18%	24%	25%	31%	18.07.2017 - 20.07.2017

Ratio of the Risk Assessment Range to the Price Range (x_pr)

Ticker	Current value	New value	New value effective for
GAZP	2	1.6	18.07.2017 - 20.07.2017