Magnit

Report Publication Announcement • Mar 21, 2018

MAGNIT PJSC (MGNT)

20-March-2018 / 15:59 CET/CEST

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Press Release Krasnodar March 20, 2018

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, March 20, 2018: Magnit PJSC, one of Russia's leading retailers (the "Company", MOEX and LSE:MGNT), is pleased to announce the holding ofthe Board of Directors meeting.

OnMarch 20, 2018, the Chairman of the Board of Directors made the decision to hold the BOD meeting on March 23, 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 extraordinary GeneralShareholders Meeting ofPJSC "Magnit".
• 1. Approval of the list ofcandidates to be elected to the Board ofDirectors of PJSC "Magnit' at the extraordinary General Shareholders Meeting ofthe Company.
• 1. Determination of the formand the text of the voting ballots on the items to be considered at the extraordinaryGeneral Shareholders Meeting of PJSC "Magnit".
• 1. Approval of the position of the Board of Directors of PJSC "Magnit" on issues of the agenda extraordinary General Shareholders Meeting of the Company.
• 1. Determination ofPJSC "Magnit"business priorities.
• 1. Consideration oftheevaluation report on theefficiency oftheinternalcontroland risk managementsystemfor 2017.
• 1. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares in the chartercapital owned by the Company.
• 1. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Tander JSC shares in the charter capital owned by the Company.

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.

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.: 5319

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