Magnit

Board/Management Information • Feb 1, 2018

MAGNIT PJSC (MGNT)

01-Feb-2018 / 15:35 CET/CEST

Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

Press Release Krasnodar February 1, 2018

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, February 1, 2018: Magnit PJSC, one ofRussia's leading retailers (the"Company", MOEXand LSE:MGNT), is pleased to announce the holding ofthe Board of Directors meeting.

On February 1, 2018, the Chairman of the Board of Directors madethe decision to hold the BODmeeting on February 2, 2018 with the following agenda:

• 1. Consideration ofthe proposals for the nomination ofcandidates to the Board ofDirectors of PJSC "Magnit' to be elected at the annualGeneral Shareholders Meeting ofPJSC "Magnit".
• 1. Making decisions forapproval oftheexecution ofmajor transactions.
• 1. Determination of the position of the PJSC "Magnit"representative at the exercise of the voting right on the JSC "Tander"shares in the charter capital owned by the Company.
• 1. Consideration of the report on the organization and functioning of the internal control and risk management systemof PJSC "Magnit"and its subsidiaries for 2017.

Items of the agenda of PJSC "Magnit" Board of Directors are related to the exercise of rights on ordinary registered uncertified shares, state registration number 1-01-60525-P of 04.03.2004, InternationalStock IdentificationNumber (ISIN) RU000A0JKQU8.

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
MediaInquiries	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 ofKrasnodar. As ofDecember 31, 2017, Magnit operated 37 distribution centers and 16,350 stores (12,125 convenience, 243 hypermarkets, 208 Magnit Family storesand 3,774 drogeriestores) in 2,709 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with the unaudited IFRS management accounts for 2017, Magnit had revenues of RUB 1,143 billion and an EBITDA of RUB 92 billion. Magnit's localshares are traded on the Moscow Exchange (MOEX:MGNT) and its GDRs on the London Stock Exchange (LSE:MGNT) and it hasacredit rating fromStandard &Poor's ofBB. Measured bymarketcapitalization, Magnit is one ofthelargest retailers inEurope.

End ofAnnouncementEQS News Service