Magnit

AGM Information • Sep 9, 2018

MAGNIT PJSC (MGNT)

07-Sep-2018 / 17:41 MSK Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

Press Release | Krasnodar | September 7, 2018

PJSC "Magnit" Announces the Decisions of the Board

Krasnodar, Russia (September 7, 2018): Magnit PJSC (MOEX and LSE: MGNT; Company, Group), one of Russia's leading retailers, announces the decisions of the Board of Directors taken on the meeting held on September 06, 2018.

The Board has approved the execution of the major transaction - Magnit's contribution to the assets of JSC "Tander" (operational company of Magnit Group) in the amount of 60 billion Rubles. The contribution will be sourced from the repayment of debt under the intra-group loan of JSC "Tander" in favour of PJSC "Magnit". The contribution to assets is made in order to improve the credit profile of JSC "Tander" (main borrower in Magnit Group) by means of reducing the debt burden of this legal entity.

The Board has approved Andrey Zadoyanniy to the position of the Head of Internal Audit. Mr. Zadoyanniy has great audit and consulting experience and is very familiar with the retail industry.

The Board approved the payment of JSC "Tander" dividends in the amount of 3.5 billion Rubles (0,35 Rubles per one ordinary share). PJSC "Magnit" is the sole shareholder of JSC "Tander". The dividend payment of the subsidiary (JSC "Tander") will generate the profit for the parent company (PJSC "Magnit") in order to make the dividend payment to PJSC "Magnit" shareholders in future.

Please follow the link below to read full text of the Board decisions:

http://ir.magnit.com/en/press-releases/reg-filings_2018/

For further information, please contact:

Dina Svishcheva Media Inquiries Head of IR Media Relations Department Email: Chistyak@magnit.ru Email: press@magnit.ru Office: +7-861-277-4554 x 15101

Note to editors:

Publ ic Joint Stock Compa ny "Magnit" is one of Russia's lea ding retai lers. Founded in 1994, the compa ny is hea dquartered in the s outhern Russia n city of Kras nodar. As of June 30, 2018, Magnit operated 37 distribu,on centers a nd 16,960 stores (12,503 convenience, 244 hypermarkets, 213 s upermarkets a nd 4,000 drogerie stores) in 2,808 ci,es a nd towns throughout 7 federal regions of the Russia n Federa,on.

In accorda nce with the reviewed IFRS cons ol idated fina ncial statements for 1H 2018, Magnit ha d revenues of RUB 595 bi l l ion a nd a n EBITDA of RUB 44 bi l l ion. Magnit's local s hares are tra ded on the Moscow Excha nge (MOEX: MGNT) a nd its GDRs on the London Stock Excha nge (LSE: MGNT) a nd it has a credit ra,ng from Sta ndard & Poor's of BB.

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.: 5987 EQS News ID: 721797

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