Magnit

Share Issue/Capital Change • Dec 25, 2017

MAGNIT PJSC (MGNT)

25-Dec-2017 / 16:56 CET/CEST

Dissemination of a RegulatoryAnnouncement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction in which offers or sales would be prohibited by law. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should informthemselves about and observeany such restriction. Any failureto complywith theserestrictions may constitutea violation ofthesecurities laws ofany such jurisdiction.

This announcement does not contain or constitute an offer of, or the solicitation ofan offer to purchase or subscribe for, the shares to any person in the United States,Australia, Canada or Japan or in any jurisdiction to whomor inwhich such offer or solicitation is unlawful. The shares may not be offered or sold in the United States unless registered under the US Securities Act or offered in a transaction exempt from, or not subject to, the registration requirements of the US SecuritiesAct. The offer and sale of the shares referred to herein has not been and will not be registered under the US Securities Act or under the applicable securities laws ofAustralia, Canada or Japan. Subject to certain exceptions, the shares referred to hereinmay not be offered or sold inAustralia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen ofAustralia, Canada or Japan. There will be no public offer oftheshares in the United States,Australia, Canada or Japan orelsewhere.

Members ofthe general public are noteligible to take part in the sale. Inmember states ofthe European EconomicArea ("EEA") (each, a "Relevant Member State"), this announcement and any offer if made subsequently is sent and addressed to and directed only at persons who are "qualified investors" within the meaning of the Prospectus Directive ("Qualified Investors"). For these purposes, the expression "Prospectus Directive"means Directive 2003/71/EC (and amendments thereto, including the 2010 PDAmendingDirective), and includesany relevant implementingmeasurein the Relevant Member Stateand theexpression "2010 PDAmendingDirective"means Directive 2010/73/EU. In the United Kingdomthisannouncement is sentand distributed to and directed exclusively at Qualified Investors (i) who have professionalexperience inmatters relating to investments falling withinArticle 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) who fall withinArticle 49(2)(A) to (D) ofthe Order, or (iii) to whomit may otherwiselawfully becommunicated, and theshares will only beavailableto, and any investment activity to which this announcement relates will only be engaged inwith, such persons and it should not be relied on by anyone other than such persons.

THIS ANNOUNCEMENT AND MATERIALS CONTAINED IN IT ARE PROVIDED EXCLUSIVELY FOR INFORMATION AND ARE NOTAN OFFERORAPARTOFAN OFFERORAN INVITATION TO ACQUIREORDISPOSE SECURITIES IN ANYJURISDICTION INCLUDINGTHEUSA,AUSTRALIA, CANADAANDJAPAN.

Press Release Krasnodar December 25, 2017

PJSC"Magnit" Announces the Results of the Exercise of Pre-Emptive Rights

Krasnodar, Russia (December 25, 2017): Magnit PJSC, one ofRussia's leading retailers (the"Company"; MOEXand LSE:MGNT),announces theresults of theexercise of pre-emptiverights.

Type,category ofsecurities:	ordinaryregistered shares
Formofsecurities:	uncertified
Series ofsecurities:	not applicable
State registration number of the additional issue ofsecurities and date ofregistration:	No. 1-01-60525-P as of December 4, 2017
Registration authority which exercised state registration of theadditionalissue ofsecurities:	Bank of Russia
InternationalSecurities IdentificationNumber (ISIN):	RU000A0JKQU8
Method of offering:	open subscription
Amount of securities subject to offering and nominal value per share:	7,350,000 (seven million three hundred and fifty thousand) shares with a nominal value of 0.01 (0 rubles 01 kopeck) per share
The record date of shareholders entitled to exercise pre emptiverights:	November 25, 2017 ( the 10th day from the decision of PJSC "Magnit" Board of Directors, being the basis for the of ering of additional shares)
Date of publication of the Notice to exercise pre-emptive rights to acquireadditionalshares:	December 5, 2017
Pre-emptiveright duration period:	FromDecember 6, 2017 to December 21, 2017 (inclusive)

The number ofadditional shares to be placed as a result of	1 049 164 (one million forty nine thousand and one hundred sixty four)
theexercise of pre-emptiverights:	shares
The number ofadditional fractionalshares to be placed as a result oftheexercise of pre-emptiverights:	0 (zero) shares
The number of additional shares to be placed by means of	6 300 836 (six million three hundred thousand and eight hundred thirty
open subscription after theexercise of pre-emptiverights:	six) shares
The date when the results of the exercise of pre-emptive rights weresummarized:	December 25, 2017

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 ofSeptember 30, 2017, Magnit operated 36 distribution centersand 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogeriestores) in 2,664 citiesand towns throughout 7 federalregions ofthe Russian Federation.

In accordance with thereviewed 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 hasacredit rating fromStandard &Poor's ofBB. Measured bymarketcapitalization, Magnit is one of thelargest retailers inEurope.

ISIN: US55953Q2021 Category Code: MSCU TIDM: MGNT LEICode: 2534009KKPTVL99W2Y12 OAM Categories:3.1.Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 5049

End ofAnnouncementEQS News Service