Magnit

Related Party Transaction • Oct 1, 2014

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OJSC MAGNIT - Execution of Related Party Transaction

PR Newswire

London, October 1

Press-releaseKrasnodarOctober 1, 2014OJSC "Magnit" Announces the Executionof the Related Party TransactionKrasnodar, October 1, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT), announces the execution of the transaction onSeptember 30, 2014.Please be informed that on September 30, 2014 OJSC "Magnit" (the Lender) andJSC "Tander" (the Borrower) executed the related party transaction, accordingto which the Lender provides the loan of funds to the Borrower which is to berepaid by the Borrower within the period determined by the contract. Therepayment of the loan and (or) the interest may be effected by the Borrower inadvance, without written notice to the Lender of the loan repayment, by meansof transfer of the loan to the bank details specified in the contract orotherwise not contradictory to the Civil Code of the Russian Federation (offsetof mutual claims, assignment of a claim, etc.).The essentials of the transaction are as follows:Type of transaction: related party transactionSubject of transaction: loan of fundsParties and beneficiaries the Lender -open joint-stock company "Magnit"under transaction: the Borrower- joint-stock company "Tander"Maturity: loan maturity date -28. 09.2017Transaction amount: 145,000, 000.00 rubles, which amounts to 0.21% of the balance sheet value of assets of the issuerInterest rate: 11.45% per annumThe assets value of the issuer 70,383, 864thousandrublesas of the closing date of thereporting period preceding thetransaction execution and inrespect of which the deadlinefor filing the accounting(financial) report has passed:The transaction was approved by the General shareholders meeting on September25, 2014 (minutes of the extraordinary general shareholders meeting of OJSC"Magnit" № w/№ of September 26, 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 reviewed IFRS consolidated financial statements for 1H2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 millionUSD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis one of the largest retailers in Europe.