Magnit

AGM Information • Nov 5, 2017

MAGNIT PJSC (MGNT)

03-Nov-2017 / 15:28 CET/CEST

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Press Release Krasnodar November 3, 2017

Magnit Announces the Results of the BOD Meeting

Krasnodar, November 3, 2017: Magnit PJSC, one ofRussia's leading retailers (the"Company", "Issuer"; MOEXand LSE:MGNT), is pleased to announcetheresults ofthe BODmeeting held onNovember 3, 2017.

Please be informed that onNovember 3, 2017 the BOD meeting was held (minutes of the BODmeeting o f PJSC "Magnit" are w/o No. of November 3, 2017).

The meeting agenda:

1. Determination oftheremuneration for theauditor's services.

ThefollowingBODmembers were present:V. Gordeychuk, S. Galitskiy, K. Pombukhchan, A. Shkhachemukov.

A.Aleksandrov, D. Chenikov andA. Pshenichniy provided their written opinions on theitems oftheagenda ofthe BODmeeting of PJSC "Magnit".

The number ofthe BODmembers participating in the meeting, includingwritten opinions of A. Aleksandrov, D. Chenikov andA. Pshenichniy amounts to not less than half of the number of the BOD members determined by the Charter of the Company.

Quorumto hold the BODmeetingwith thisagendais present.

Voting Results:

Item1:

V. Gordeychuk - "for", A. Aleksandrov - "for", S. Galitskiy - "for", D. Chenikov - "for", K. Pombukhchan - "for", A. Pshenichniy - "for", A. Shkhachemukov - "for". The decisionwas made.

Content of the decisions and voting results:

Item1 on the agenda:

"To determine the amount of remuneration of the auditor (Ernst &Young LLC) for the audit of the consolidated financia lstatements for the year 2017 prepared in accordance with IFRS (including the consolidated financialstatements prepared in accordance with the Federal law as of 27.07.2010 No. 208-FZ "On consolidated financialstatements").

Theamount oftheremuneration oftheauditor shall notexceed 1,880,654 (one million eight hundred eighty thousand six hundred fifty four three) US dollars (VAT included).

The payment shall be effected in Russian rubles at the exchange rate of the Central Bank of the Russian Federation as of the date of payment".

Forfurtherinformation, please contact:

Timothy Post Head ofInvestor Relations Email: post@magnit.ru Office:+7-861-277-4554 x 17600 Dina Svishcheva DeputyDirector, Investor Relations Email:Chistyak@magnit.ru Office:+7-861-277-4554 x 15101

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 ofSeptember 30, 2017, Magnit operated 36 distribution centersand 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogeriestores) in 2,664 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with thereviewed IFRS consolidated financialstatements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDAof RUB 49 billion. Magnit's localshares 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 ofthe largest retailers in Europe.

ISIN: US55953Q2021 Category Code: MSCU TIDM: MGNT LEICode: 2534009KKPTVL99W2Y12 OAM Categories:3.1.Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 4807

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