PJSC MAGNIT - March/3M 2015 Results

Press-release

Krasnodar

April 9, 2015

PJSC "Magnit" Announces 30.40% Retail Sales Growth in Rubles for
March 2015[1]

Krasnodar, April 9, 2015: PJSC "Magnit", Russia's largest food
retailer (the "Company"; MOEX and LSE: MGNT) announces 30.40% retail sales
growth in rubles for March 2015.

During March 2015 the Company opened (net) 187 stores. The total
store base reached 10,120 stores (8,581 convenience stores, 196 hypermarkets,
104 "Magnit Family" stores and 1,239 drogerie stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT)
in 3M 2015 increased by 33.11% in ruble terms (compared to 3M 2014) and stood
at 218,231.77 million rubles.

According to Rosstat food inflation in March 2015 amounted to 1.6%
compared to 1.8% in March 2014, in 3M 2015 it was 10.9% compared to 4.0% in 3M
2014.

March and 3M 2015 Key Operating and Financial Highlights:

                                     March 2015    March 2014    Growth Rate      3М 2015     3М 2014    Growth Rate
Number of opened stores, NET                187            49            n/a          409         163            n/a
               convenience stores           102            45            n/a          237         141            n/a
                     hypermarkets             3             3            n/a            6           4            n/a
                    magnit family             6             2            n/a            7           4            n/a
                  drogerie stores            76           (1)            n/a          159          14            n/a

Total number of stores                   10,120         8,256            n/a       10,120       8,256            n/a
               convenience stores         8,581         7,341            n/a        8,581       7,341            n/a
                     hypermarkets           196           165            n/a          196         165            n/a
                    magnit family           104            50            n/a          104          50            n/a
                  drogerie stores         1,239           700            n/a        1,239         700            n/a

Selling space, eop, th. sq. m.         3,732.73      3,068.61         21.64%     3,732.73    3,068.61         21.64%
               convenience stores      2,754.69      2,349.71         17.24%     2,754.69    2,349.71         17.24%
                     hypermarkets        577.03        493.53         16.92%       577.03      493.53         16.92%
                    magnit family        116.12         58.08         99.92%       116.12       58.08         99.92%
                  drogerie stores        284.90        167.29         70.30%       284.90      167.29         70.30%

Selling space growth, th. sq.m.           65.56         24.54            n/a       142.09       57.24            n/a
               convenience stores         35.27         12.60            n/a        81.38       37.51            n/a
                     hypermarkets          6.52          8.68            n/a        17.94       10.66            n/a
                    magnit family          6.26          2.46            n/a         7.05        4.82            n/a
                  drogerie stores         17.52          0.79            n/a        35.73        4.25            n/a

Number of customers, million             275.49        241.31         14.16%       766.34      662.66         15.65%
               convenience stores        235.87        211.57         11.48%       658.09      582.77         12.93%
                     hypermarkets         22.21         19.70         12.78%        61.01       53.07         14.95%
                    magnit family          7.59          4.39         72.93%        20.89       11.53         81.12%
                  drogerie stores          9.82          5.65         73.67%        26.35       15.29         72.31%

Net retail sales, million RUR         77,994.74     59,813.27         30.40%   218,231.77  163,951.83         33.11%
               convenience stores     57,828.25     45,654.95         26.66%   162,596.12  126,020.31         29.02%
                     hypermarkets     14,015.68     11,045.11         26.89%    38,730.75   29,589.83         30.89%
                    magnit family      3,450.15      1,704.15        102.46%     9,601.90    4,453.55        115.60%
                  drogerie stores      2,700.66      1,409.07         91.66%     7,303.00    3,888.13         87.83%

Net retail sales, million US$[2]       1,294.38      1,651.73       (21.63)%     3,509.01    4,689.82       (25.18)%
               convenience stores        959.70      1,260.75       (23.88)%     2,614.43    3,604.79       (27.47)%
                     hypermarkets        232.60        305.01       (23.74)%       622.76      846.41       (26.42)%
                    magnit family         57.26         47.06         21.67%       154.39      127.39         21.19%
                  drogerie stores         44.82         38.91         15.18%       117.43      111.22          5.58%
LFL results

Formats                                                        1Q 2015 - 1Q 2014[3]
                                     # of Stores               Average Ticket            Traffic           Sales
Convenience Stores                      7,046                      13.87%                 0.17%           14.06%
Hypermarkets                             162                       14.38%                 0.47%           14.91%
Magnit Family                             47                       15.23%                 1.79%           17.29%
Drogeries                                639                       9.97%                 12.63%           23.86%
Total                                   7,894                      13.97%                 0.49%           14.53%

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: +7-861-277-4562
Dina Svishcheva                                             Deputy Director, Investor Relations

                                                            Email: Chistyak@magnit.ru

                                                            Office: +7-861-277-45-54 x 15101

                                                            Mobile: +7-961-511-0202

                                                            Direct Line: +7-861-277-4562

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
March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores
(8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in
approximately 2,180 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) 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.

---------------------------------

[1] According to management accounts

[2] Based on the average exchange rate for March 2015 - 60.2563 RUB
per 1 USD, March 2014 - 36.2124 RUB per 1 USD, 3M 2015 - 62.1919 RUB per 1
USD, 3M 2014 - 34.9591 RUB per 1 USD

[3] LFL calculation base includes stores (all formats), which have
been opened 12 months prior to the last month of the reporting period. i.e. by
March 1, 2014.