Press Release | Krasnodar | January 17, 2019

PJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, Russia (17 January, 2019): Magnit PJSC (MOEX and LSE: MGNT), one of Russia's leading retailers announces the holding of the Board of Directors meeting.

On January 16, 2019, the Chairman of the Board of Directors made the decision to hold the BOD meeting of PJSC "Magnit" on January 16, 2019 with the following agenda:

1. Determination of the number of members of PJSC "Magnit" Management Board.

2. Election of the PJSC "Magnit" collegial executive body (Management Board) member.

3. Approval of the contract form with a member of the Management Board of PJSC "Magnit".

4. Determination of an authorized person to sign the contract with PJSC "Magnit" Management Board member on behalf of the Company.

5. Approval of the additional agreements to the agreement with the person exercising the power of the sole executive body of PJSC "Magnit".

For further information, please contact:

Petr Molchanov     Media Inquiries

Chief Investment Officer   Media Relations Department

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

Office: +7-861-277-4554 x 45000  

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.