Magnit

AGM Information • May 8, 2018

MAGNIT PJSC (MGNT)

08-May-2018 / 08:47 CET/CEST Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

Press Release Krasnodar May 8, 2018

Magnit Announces the Results of the BOD Meeting

Krasnodar, May 8, 2018: Magnit PJSC, one of Russia's leading retailers (the "Company", "Issuer"; MOEX and LSE: MGNT), is pleased to announcetheresults ofthe BODmeeting held onMay 4, 2018.

Please be informed that on May 4, 2018 the BOD meeting was held (minutes of the BODmeeting of PJSC "Magnit"are w/o No. of May 07, 2018).

The meeting agenda:

• 1. Election ofthe Chairman ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Election ofthe DeputyChairman ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Election ofthe Secretary ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Approval ofRegulations on the Committees ofthe Board ofDirectors ofPublicJoint Stock Company "Magnit"(newedition).
• 1. Formation oftheAudit Committee ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Election ofthe Chairman oftheAudit Committee ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Formation ofthe HRand RemunerationCommittee ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Election ofthe Chairman ofthe HRand RemunerationCommittee ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Formation ofthe StrategyCommittee ofthe Board ofDirectors ofPJSC "Magnit".
• 1. Election ofthe Chairman ofthe StrategyCommittee ofthe Board ofDirectors ofPJSC "Magnit".

7 (seven) of the 7 (seven) BODmembers participating in the BODmeetingwere present.

Quorumto hold the BODmeetingwith thisagendais present.

Voting Results:

Items 1-3:

Gregor WilliamMowat - "for", Demchenko Timothy - "for", James Pat Simmons - "for", MakhnevAlexey Petrovich - "for", Paul Michael Foley - "for", PrysyazhnyukAlexander Mikhailovich - "for", Charles Emmitt Ryan - "for". The decisions were made.

Item4:

Gregor WilliamMowat - "for", Demchenko Timothy - "for", James Pat Simmons - "for", MakhnevAlexey Petrovich - "for", Paul Michael Foley - "for", PrysyazhnyukAlexander Mikhailovich - "against", Charles Emmitt Ryan - "for". The decisionwas made.

Items 5-10:

Gregor WilliamMowat - "for", Demchenko Timothy - "for", James Pat Simmons - "for", MakhnevAlexey Petrovich - "for", Paul Michael Foley - "for", PrysyazhnyukAlexander Mikhailovich - "for", Charles Emmitt Ryan - "for". The decisions were made.

Content of the decisions:

Item1 on the agenda:

'To elect Charles Emmitt Ryan as the Chairman ofthe Board ofDirectors ofPJSC "Magnit"' .

Item2 on the agenda:

'To elect PaulMichaelFoley as the DeputyChairman ofthe Board ofDirectors ofPJSC "Magn it"'.

Item3 on the agenda:

'To elect ChurikovNikitaAlexandrovich as the Secretary ofthe Board ofDirectors ofPJSC "Magnit" '.

Item4 on the agenda:

'To approve Regulations on the Committees ofthe Board ofDirectors ofPublicJoint Stock Company "M agnit"'.

Item5 on the agenda:

"To formtheAudit Committee ofthe Board ofDirectors ofPJSC "Magnit"consisting ofthefollowing 3 (three) members:

• Gregor WilliamMowat;
• James Pat Simmons;
• PrysyazhnyukAlexander Mikhailovich".

Item6 on the agenda:

'To elect Gregor WilliamMowatas the Chairman oftheAudit Committee ofthe Board ofDirectors ofPJSC "Magnit" '.

Item7 on the agenda:

"To formthe HRand RemunerationCommittee ofthe Board ofDirectors ofPJSC "Magnit"consisting ofthefollowing 3 (three) members :

• James Pat Simmons;
• PaulMichaelFoley;
• PrysyazhnyukAlexander Mikhailovich".

Item8 on the agenda:

'To electJames Pat Simmonsas the Chairman ofthe HRand RemunerationCommittee ofthe Board ofDirectors ofPJSC "Magnit" '.

Item9 on the agenda:

"To formthe StrategyCommittee ofthe Board ofDirectors ofPJSC "Magnit"consisting ofthefollowing 3 (three) members :

• James Pat Simmons;
• MakhnevAlexey Petrovich;
• PaulMichaelFoley".

Item10 on the agenda:

'To elect PaulMichaelFoley as the Chairman ofthe StrategyCommittee ofthe Board ofDirectors ofPJSC "Magnit" '.

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.: 5511 EQS News ID: 683437

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