Press Release | Krasnodar | December 6, 2018

PJSC "Magnit" Announces the Holding of the BOD Meeting

Krasnodar, Russia (6 December, 2018): Magnit PJSC (MOEX and LSE: MGNT), one of Russia's leading retailers announces the holding of the Board of Directors meeting.

On December 6, 2018, the Chairman of the Board of Directors made the decision to hold the BOD meeting of PJSC "Magnit" on December 11, 2018 with the following agenda:

1. Approval of the organizational structure and budget of the structural division carrying out internal audit for 2019.

2. Approval of key performance indicators for the head of the structural division carrying out internal audit for 2019.

3. Approval of the activity plan of the structural division carrying out internal audit for 2019.

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

5. Election of the members of PJSC "Magnit" Management Board.

6. Determination of the person authorized to sign the contract on behalf of the PJSC "Magnit" with the members of the Management Board of PJSC "Magnit".

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.