Magnit

Related Party Transaction • Aug 18, 2014

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OJSC MAGNIT - Execution of Related Party Transaction

PR Newswire

London, August 18

Press-releaseKrasnodarAugust 18, 2014OJSC "Magnit" Announces the Execution of the Related Party TransactionKrasnodar, August 18, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer"; MICEX and LSE: MGNT), announces the execution of thetransaction on August 15, 2014.The essentials of the transaction are as follows:Type of transaction: Major related party transactionSubject of Provision by the Issuer of the guarantee underthe Atransaction: greement №29-15/1/496 on the opening of the revolving credit lineas of August15, 2014, executed between JSC "Tander" and Open joint-stock company "Sberbank of Russia" (OJSC "Sberbank of Russia")Content of the In accordance with the guarantee agreement №29-15/1/496 n1transaction: as of August15, 2014the guarantor shall be solidarily liable to the creditor for the fulfillment of obligations of the borrower under the credit agreement executed on the following terms: * The creditline limit: 15,000 ,000,000 (fifteenbillion) rubles * The granted term of the credit is until August13 , 2017 * The borrower shall pay the interest on credit to the creditor at the rate determined by the credit agreement but not exceeding 12% per annumDeadline for the The term of validity of the guarantee- until August13, 20fulfillment of the 20; prior to the specified term the guarantee isobligation: terminatedupon fulfillment of all obligations under the Credit agreement by the Borrower, or upon fulfillment of obligations under the Agreement by the Guarantor or to the extent otherwise stipulated by the legislation of the Russian FederationParties and The creditor - open joint-stock company "Sberbank ofbeneficiaries under Russia" (OJSC "Sberbank of Russia")transaction: The guarantor - open joint-stock company "Magnit" The borrower (beneficiary) -joint-stock company "Tander"The amount of the 20,395, 068,493(twenty billion threehundred and ninetytransaction in the fivemillionsixty eight thousand four hundred and ninetymonetary value and three) rubles which amounts to 28.98% of the balance sheetas a % of the asset assets of the issuervalue of the issuer:Asset value of the 70,383, 864thousand rublesissuer as of theclosing date of theaccounting periodpreceding theexecution of thetransaction:Date of the August15, 2014transactionexecution:Information on the The transaction was approved by the general shareholdersapproval of the meetingof May 29, 2014(Minutes of the general shareholderstransaction: meetingof OJSC "Magnit" w/o No. of May 30, 2014)For further information, please contact:Timothy Post Director, Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562Company description:Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand towns throughout 7 federal regions of the Russian Federation.In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB. Measured by market capitalization, Magnit is oneof the largest retailers in Europe.