Press Release

Krasnodar

November 16, 2017

PJSC "Magnit" announces the cessation of Lavreno Limited's right to dispose a certain number of votes accounted for voting shares (stakes) in the charter capital of PJSC "Magnit"

Krasnodar, Russia (November 16, 2017): Magnit PJSC, one of Russia's leading retailers (the "Company"; MOEX and LSE: MGNT), announces the cessation of Lavreno Limited's right to dispose a certain number of votes accounted for voting shares (stakes) in the charter capital of PJSC "Magnit".

On November 16, 2017 the right of Lavreno Limited (Spyrou Kyprianou 20, Chapo Central, 3' floor, 1075, Nicosia, Cyprus) to dispose a certain number of votes accounted for voting shares (stakes) in the charter capital of PJSC "Magnit" ceased.

Type of stock power: direct power.

Attribute of stock power: sole power.

The basis of the stock power: cessation (decrease of stake) in the issuer.

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

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

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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.