Magnit

Board/Management Information • Sep 11, 2017

MAGNIT PJSC / Miscellaneous - High Priority

11-Sep-2017 / 16:44 CET/CEST

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Press Release Krasnodar September 11, 2017

PJSC"Magnit" Announces the Holding of the BOD Meeting

Krasnodar, September 11, 2017: Magnit PJSC, one of Russia's leading retailers (the "Company", MOEX and LSE: MGNT), is pleased to announcethe holding ofthe Board of Directors meeting.

On September 11, 2017, the Chairman of the Board of Directors made the decision to hold the BOD meeting on September 18, 2017 with the following agenda:

• 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 LLC "Alkotrading" shares in the chartercapital owned by the Company.

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 of Krasnodar. As of June 30, 2017, Magnit operated 35 distribution centers and 14,844 stores (11,114 convenience, 430 hypermarkets and 3,300 drogeriestores) in 2,567 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with the reviewed IFRS consolidated financialstatements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDAof RUB 49 billion. Magnit's localshares are traded on the Moscow Exchange (MOEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.

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Language: English Company: MAGNIT PJSC 15/5 Solnechnaya street

350072 Krasnodar Russia Phone: +7 861 210 98 10 Fax: +7 (861) 277-4554 E-mail: magnitIR@magnit.ru Internet: https://ir.magnit.com/en/ ISIN: US55953Q2021 Listed: Foreign Exchange(s) London, Moscow Category Code:MSCH TIDM: MGNT Sequence No.: 4620

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