Magnit

Report Publication Announcement • Jul 23, 2018

MAGNIT PJSC (MGNT)

23-Jul-2018 / 19:08 MSK

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Press Release Krasnodar July 23, 2018

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, July 23, 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 July 23, 2018, the Chairman ofthe Board ofDirectors madethe decision to hold the BODmeeting ofPJSC "Magnit" on July 25, 2018 with the following agenda:

• 1. Approval ofthe Meetings Schedule ofthe Board ofDirectors of PJSC "Magnit"for 2018.
• 1. Approval ofthe newversion ofthe Regulations onCommittees ofthe Board ofDirectors of PJSC "Magnit".
• 1. Formation ofthe Capital Markets Committee ofthe Board ofDirectors of PJSC "Magnit".
• 1. Election ofthe Chairman ofthe Capital Markets Committee ofthe Board ofDirectors of PJSC "Magnit".
• 1. Consideration ofthe Logistics Development Strategy for Drogerie Storesand Pharmacies.
• 1. Consideration ofthe Short-Termand Long-TermIncentive Programs of PJSC "Magnit"Group ofCompanies, as wellas the Key Performance Indicators (KPIs) ofthe CEO and members ofthe Management Board ofPJSC "Magnit".
• 1. Approval ofthecontract formwith a member ofthe Management Board ofPJSC "Magnit".
• 1. Approval ofthecontract formwith asoleexecutive body (ChiefExecutive Officer) ofPJSC "Magnit".
• 1. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on shares in the charter capital of LLC "Tandem"owned by the Company.
• 1. Consideration offinancialand operating results of PJSC "Magnit"Group ofCompanies for the 1 st half of 2018.
• 1. Consideration ofthe budget of PJSC "Magnit"Group ofCompanies for the 2 nd half of 2018.
• 1. Consideration of the Authority Matrix for management bodies and executive bodies of PJSC "Magnit" for transactions execution (approval).
• 1. Consideration of theAuthorityMatrix onHRmatters ofPJSC "Magnit"Group ofCompanies.

Forfurtherinformation, please contact:

Dina Svishcheva	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.: 5775 EQS News ID: 707175

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