Magnit

Pre-Annual General Meeting Information • Jun 23, 2017

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PJSC MAGNIT - Holding of BoD Meeting

PR Newswire

London, June 23

Press Release

Krasnodar

June 23, 2017

Magnit Announces the Holding of the BOD Meeting

Krasnodar, Russia (June 23, 2017): Magnit PJSC, one of Russia’s leading retailers (the “Company”, MOEX and LSE: MGNT), is pleased to announce the holding of the Board of Directors meeting.

On June 23, 2017 the Chairman of the Board of Directors made a decision to hold the BOD meeting on June 29, 2017 with the following agenda:

1. Election of the Chairman of the Board of Directors of PJSC “Magnit”.
2. Election of the Deputy Chairman of the Board of Directors of PJSC “Magnit”.
3. Election of the Secretary of the Board of Directors of PJSC “Magnit”.
4. Formation of the Audit Committee of the Board of Directors of PJSC “Magnit”.
5. Election of the Chairman of the Audit Committee of the Board of Directors of PJSC “Magnit”.
6. Formation of the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit”.
7. Election of the Chairman of the HR and Remuneration Committee of the Board of Directors of PJSC “Magnit”.
8. Election of the Management Board of PJSC “Magnit”.
9. Nomination of the Deputy Chairman of the Management Board of PJSC “Magnit”.
10. Determination of the remuneration for the auditor`s services.

For further information, please contact:

Timothy Post	Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600
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:

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 March 31, 2017, Magnit operated 35 distribution centers and 14,089 stores (10,540 convenience, 427 hypermarkets and 3,122 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2016, Magnit had revenues of RUB 1,075 billion and an EBITDA of RUB 108 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 from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.