Magnit

Report Publication Announcement • Jun 11, 2015

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PJSC MAGNIT - Holding of BoD Meeting

PR Newswire

London, June 11

Press-release

Krasnodar

June 11, 2015

PJSC “Magnit” Announces the Holding of the BOD Meeting

Krasnodar, June 11, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On June 11, 2015 the Chairman of the Board of Directors made the decision to hold the BOD meeting on

June 17, 2015 with the following agenda:

1. Election of the Chairman of the Board of Directors of PJSC "Magnit".

2. Election of the Deputy Chairman of the Board of Directors of PJSC "Magnit".

3. Election of the Secretary of the Board of Directors of PJSC "Magnit".

4. Formation of the audit committee of the Board of Directors of PJSC "Magnit".

5. Election of the Chairman of the audit committee of the Board of Directors of PJSC "Magnit".

6. Formation of the HR and remuneration committee of the Board of Directors of PJSC "Magnit".

7. Election of the Chairman of the HR and remuneration committee of the Board of Directors of PJSC "Magnit".

8. Election of the Management Board of PJSC "Magnit".

9. Approval of the related party transaction.

10. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

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: +7-861-277-4562
Dina Svishcheva	Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.