Magnit

Related Party Transaction • May 15, 2015

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PJSC MAGNIT - Execution of the Related Party Transaction

PR Newswire

London, May 15

Press-releaseKrasnodarMay 15, 2015PJSC "Magnit" Announces the Execution of the Related Party TransactionKrasnodar, May 15, 2015: PJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer"; MOEX and LSE: MGNT), announces the execution of thetransaction on May 15, 2015.Please be informed that on May 15, 2015 PJSC "Magnit" (the Lender) and JSC"Tander" (the Borrower) executed the related party transaction (materialtransaction which is not major), according to which the Lender provides theloan of funds to the Borrower which is to be repaid by the Borrower within theperiod determined by the contract. The repayment of the loan and (or) theinterest may be effected by the Borrower in advance, without written notice tothe Lender of the loan repayment, by means of transfer of the loan to the bankdetails specified in the contract or otherwise not contradictory to the CivilCode of the Russian Federation (offset of mutual claims, assignment of a claim,etc.).The essentials of the transaction are as follows:Type of transaction: material transaction which is not major; related party transactionSubject of transaction: loan of fundsParties and beneficiaries the Lender - PublicJoint Stock Company "Magnit"under transaction: the Borrower - JointStock Company "Tander"Maturity: loan maturity date - 09.06.201 5Transaction amount: 9,999,000,000.00 rubles, which amounts to 12.66% of the balance sheet value of assets of the issuerInterest rate: 12.00% per annumThe assets value of the issuer 78,978, 786 thousand rublesas of the closing date of thereporting period preceding thetransaction execution:The transaction was approved by the General shareholders meeting on September25, 2014 (minutes of the extraordinary shareholders meeting of PJSC "Magnit" w/o № of September 26, 2014).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: +7-861-277-4562Dina Svishcheva Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562Company description:Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of March 31, 2015,Magnit operated 28 distribution centers and over 10,000 stores (8,581convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately2,180 cities and towns throughout 7 federal regions of the Russian Federation.In accordance with the audited IFRS consolidated financial statements for 2014,Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion.Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB+. Measured by market capitalization, Magnit is oneof the largest retailers in Europe.