Magnit

Pre-Annual General Meeting Information • Jan 31, 2017

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PJSC MAGNIT - Holding of the BoD Meeting

PR Newswire

London, January 31

Press Release

Krasnodar

January 31, 2017

Magnit Announces the Holding of the BOD Meeting

Krasnodar, Russia (January 31, 2017): Magnit PJSC, one of Russia’s leading retailers (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On January 31, 2017 the Chairman of the Board of Directors made a decision to hold the BOD meeting on February 3, 2017 with the following agenda:

1. Consideration of the proposals for the nomination of candidates to the Board of Directors of PJSC “Magnit’ to be elected at the annual General Shareholders Meeting of PJSC “Magnit”.

2. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company.

   For further information, please contact:

Timothy Post	Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600
Investor Relations Office	MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/
Media Inquiries	Media Relations Department press@magnit.ru

Company description:

Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2016, Magnit operated 35 distribution centers and 14,059 stores (10,521 convenience, 431 hypermarkets and 3,107 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2016, Magnit had revenues of RUB 1.07 trillion and an EBITDA of RUB 108 billion. Magnit's local shares are traded on the Moscow 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.