PJSC 'Magnit' Announces the Holding of the BOD Meeting

Press Release

Krasnodar

December 15, 2017

PJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, December 15, 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 December 15, 2017, the Chairman of the Board of Directors made the decision to hold the BOD meeting on December 20, 2017 with the following agenda:

1. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares in the charter capital owned by the Company
2. Making a decision for approval of the execution of major transactions.
3. Approval of the business plan of PJSC "Magnit" Internal Audit Department for the year 2018.
4. Approval of PJSC Magnit Exchange Bonds Program.
5. Approval of PJSC Magnit Exchange Bonds Prospectus.

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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 September 30, 2017, Magnit operated 36 distribution centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogerie stores) in 2,664 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 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.