Press Release

Krasnodar

November 15, 2017

PJSC "Magnit" announces the acquisition by Lavreno Limited of the certain number of shares in the charter capital of PJSC "Magnit"

Krasnodar, Russia (November 15, 2017): Magnit PJSC, one of Russia's leading retailers (the "Company"; MOEX and LSE: MGNT), announces the acquisition by Lavreno Limited of the certain number of shares in the charter capital of PJSC "Magnit".

On November 15, 2017 Lavreno Limited (Spyrou Kyprianou 20, Chapo Central, 3' floor, 1075, Nicosia, Cyprus) acquired certain number of voting right shares in the charter capital of PJSC "Magnit".

Type of stock power: direct power.

Attribute of stock power: sole power.

The basis of the stock power: acquisition of the share in the issuer.

Number of shares and % in the charter capital before the basis of the stock power: 210,850 shares (0.222977%).

Number of shares and % in the charter capital after the basis of the stock power: 7,310,850 shares (7.731330%).

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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.