Press Release | Krasnodar | December 11, 2018

Correction Announcement Regarding Specification on the Execution Period of Share Buy-back Programme

Further to the "PJSC "Magnit" Specifies the Execution Period of Share Buy-back Programme" announcement released on December 11, 2018 at 06:51 London time PJSC Magnit advises that it incorrectly stated that the Share Buyback Programme will end not later than March 4,2018.

The correct date is March 4, 2019.

The relevant paragraph in the "PJSC "Magnit" Specifies the Execution Period of Share Buy-back Programme" announcement is restated correctly below:

"PJSC "Magnit"(MOEX and LSE: MGNT) (the "Company"), one of Russia's leading retailers, announces that the execution of Share Buyback Programme (the "Programme") will end no later than March 4, 2019"

The corrected version of the announcement can be found on the Investor Relations PJSC Magnit's website: http://ir.magnit.com/en/

For further information, please contact

Petr Molchanov    Alisa Kvadzba   Media Inquiries

Chief Investment Officer  IR manager   Media Relations Department

Email: molchanov_ps@magnit.ru  Email: magnitIR@magnit.ru  Email: press@magnit.ru

Office: +7-861-277-4554 x 45000  Office: +7-861-277-4554 x 17601

Note to editors:

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, 2018, Magnit operated 37 distribution centers and 17,442 stores (12,813 convenience, 457 supermarkets and 4,172 drogerie stores) in 2,866 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2018, Magnit had revenues of RUB 595 billion and an EBITDA of RUB 44 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.