Magnit

AGM Information • May 14, 2018

MAGNIT PJSC (MGNT)

14-May-2018 / 08:33 CET/CEST

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Press Release Krasnodar May 14, 2018

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, May 14, 2018: Magnit PJSC, one ofRussia's leading retailers (the"Company", MOEXand LSE:MGNT), is pleased to announcethe holding ofthe Board of Directors meeting.

OnMay 11, 2018, the Chairman of the Board of Directors made the decision to hold the BODmeeting of PJSC "Magnit" on May 17, 2018 with thefollowing agenda:

• 1. Determination of priority guidelinesand strategy ofPJSC "Magnit".
• 1. Approval of recommendations to the PJSC "Magnit" General shareholders meeting on distribution of profits and losses of the Company following 2017 reporting year results, including the dividend amount on shares of the Company, the procedure of its payment and on the dividend record date.
• 1. Calling oftheannualGeneralshareholders meeting ofPJSC "Magnit.
• 1. Determination oftheformoftheannualGeneralshareholders meeting ofPJSC "Magnit".
• 1. Determination ofthe date, timeand venue oftheannualGeneralshareholders meeting ofPJSC "Magnit".
• 1. Determination ofthe postaladdress to which thecompleted voting ballots shall be delivered.
• 1. Determination oftherecord datefor theannualGeneralshareholders meeting ofPJSC "Magnit".
• 1. Determination oftheagenda oftheannualGeneralshare holders meeting ofPJSC "Magnit".
• 1. Determination ofthe procedurefor shareholders notification ofthe holding oftheannualGeneralshareholders meeting ofPJSC "Magnit".
• 1. Determination of the list of information (materials) provided to shareholders to prepare to the holding of the annual General shareholders meeting ofPJSC "Magnit",and the procedure ofits provision.
• 1. Determination of the form and the text of the voting ballots on the items to be considered at the annual General shareholders meeting of PJSC "Magnit".
• 1. Determination ofthe position ofthe Board ofDirectors on theagendaitems oftheannualGeneralshareholders meeting ofPJSC "Magnit".
• 1. Approval of the list of nominees to be elected to the PJSC "Magnit" Board of Directors at the annual Generalshareholders meeting of the Company".
• 1. Approval of the list of nominees to be elected to the PJSC "Magnit"Revision commission at the annualGeneralshareholders meeting ofthe Company.
• 1. Determination oftheremuneration amount for the PJSC "Magnit"auditor's services.
• 1. Determination of the position of the PJSC "Magnit"representative at the exercise of the voting right on shares in the charter capital ofJSC "Tander"owned by the Company.
• 1. Determination ofthe position ofthe PJSC "Magnit"representativeat theexercise ofthe voting right on shares in thechartercapital of Retail Import LLC 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 ofMarch 31, 2018, Magnit operated 37 distribution centersand 16,625 stores (12,283 convenience, 242 hypermarkets, 210 Magnit Family storesand 3,890 drogeriestores) in 2,764 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with theaudited IFRS results for 2017, Magnit had revenues ofRUB 1,143 billion and an EBITDAofRUB 92 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 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.: 5533 EQS News ID: 685199

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