Magnit

Pre-Annual General Meeting Information • Oct 30, 2015

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PJSC MAGNIT - Summary BoD Meeting Results

PR Newswire

London, October 30

Press-release

Krasnodar

October 30, 2015

PJSC “Magnit” Announces the Summary Results of the BOD Meeting

Krasnodar, October 30, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, MOEX and LSE: MGNT), announces the summary results of the Board of Directors meeting.

Please be informed that the BOD meeting of PJSC “Magnit” was held on October 29, 2015.

The BOD made the positive decisions on the following agenda items put to vote:

1. To approve the recommendations to the General shareholders meeting of the Company on the dividend amount on PJSC “Magnit” shares following the results of the 9 months of 2015 reporting year, the procedure of its payment and the dividend record date.

2. To call the PJSC “Magnit” extraordinary General shareholders meeting (“the EGM”).

3. To approve the form of holding of the EGM of PJSC “Magnit”.

4. To determine the v acceptance and the postal address to send the filled voting ballots.

5. To determine the PJSC “Magnit” EGM record date.

6. To approve the agenda of the EGM of PJSC “Magnit”.

7. To determine the procedure of shareholders notification of the holding of the EGM of PJSC “Magnit”.

8. To determine the list of information (materials) provided to shareholders to prepare to the holding of the EGM of PJSC “Magnit”, and the procedure of its provision.

9. To determine the form and the text of the voting ballots on the items to be considered at the EGM of PJSC “Magnit”.

10. To determine the recommended price for major related party transactions to be approved by the EGM of PJSC “Magnit”.

11. To determine the recommended price for related party transaction to be approved by the EGM of PJSC “Magnit”.

12. To determine the position of the PJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

    For further information, please contact:

Timothy Post	Director, Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562
Dina Svishcheva	Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562
Media Inquiries	PR and GR Department press@magnit.ru

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in approximately 2,297 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock 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.