Magnit

Major Shareholding Notification • Mar 16, 2018

MAGNIT PJSC (MGNT)

15-March-2018 / 13:00 CET/CEST Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

Press Release Krasnodar March 15, 2018

PJSC"Magnit" announces the cessation of Sergey Galitskiy's right to dispose a certain number of votes accounted for voting shares (stakes) in the chartercapital of PJSC"Magnit"

Krasnodar, Russia (March 15, 2018): Magnit PJSC, one ofRussia's leading retailers (the"Company"; MOEXand LSE:MGNT),announces the cessation of Mr. Sergey Galitskiy's right to dispose a certain number of votes accounted for voting shares (stakes) in the charter capital of PJSC "Magnit".

On March 14, 2018 the right of Mr. Galitskiy Sergey N. to dispose a certain number of votes accounted for voting shares (stakes) in the charter capital ofPJSC "Magnit"ceased.

Type ofstock power: indirect power.

Attribute ofstock power: sole power.

The basis ofthestock power: cessation (decrease of stake) in the issuer.

Number ofsharesand %in thechartercapital beforethe basis ofthestock power: 32,760,132 shares (32.145713%). Number ofsharesand %in thechartercapitalafter the basis ofthestock power: 3,103,932 shares (3.045718%).

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.

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.: 5302