Magnit

Pre-Annual General Meeting Information • Apr 1, 2016

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PJSC MAGNIT - Holding of BoD Meeting

PR Newswire

London, April 1

Press-release

Krasnodar

April 1, 2016

PJSC “Magnit” Announces the Holding of the BOD Meeting

Krasnodar, April 1, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On April 1, 2016 the Chairman of the Board of Directors made the decision to hold the BOD meeting on April 7, 2016 with the following agenda:

1. Preliminary approval of the PJSC “Magnit” annual report.

2. Approval of recommendations to the PJSC “Magnit” General shareholders meeting on distribution of profit and losses of the Company following 2015 reporting year results, including the dividend amount on shares of the Company, the procedure of its payment and on the dividend record date.

3. Calling of the annual general shareholders meeting (“the AGM”) of PJSC “Magnit”.

4. Determination of the form of holding of the AGM of PJSC “Magnit”.

5. Determination of the date, time and venue of the AGM of PJSC “Magnit” and the postal address to which the completed voting ballots shall be delivered.

6. Determination of the PJSC “Magnit” AGM record date.

7. Determination of the agenda of the AGM of PJSC “Magnit”.

8. Determination of the procedure of notification of shareholders of the holding of the AGM of PJSC “Magnit”.

9. Determination of the list of information (materials) provided to shareholders to prepare to the holding of the AGM of PJSC “Magnit”, and the procedure of its provision.

10. Determination of the form and the text of the voting ballots on the items to be considered at the AGM of PJSC “Magnit”.

11. Approval of the list of candidates to be elected to the PJSC “Magnit” Board of Directors at the AGM of the Company.

12. Approval of the list of candidates to be elected to the PJSC “Magnit” Revision commission at the AGM of the Company.

13. Determination of the amount of remuneration for the PJSC “Magnit” auditor’s services.

14. Determination of the recommended price for major related party transactions to be approved by the AGM of PJSC “Magnit”.

15. Approval of the related party transactions.

16. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company.

17. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the LLC “Alkotrading” shares in the charter capital owned by the Company.

18. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the LLC “Tandem” shares in the charter capital owned by the Company.

19. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

    Items of the agenda of PJSC "Magnit" Board of Directors are related to the exercise of rights on ordinary registered uncertified shares, state registration number 1-01-60525-P of 04.03.2004, International Stock Identification Number (ISIN) RU000A0JKQU8.

For further information, please contact:

Timothy Post	Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562
Investor Relations Office	MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/
Media Inquiries	Media Relations 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 December 31, 2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.