PJSC MAGNIT - AGM Results

Press-release

Krasnodar

June 5, 2015

PJSC “Magnit” Announces the AGM Results

Krasnodar, June 5, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), announces the results of the Annual General Shareholders Meeting.

Please be informed that the AGM of PJSC “Magnit” was held on June 4, 2015.

Positive decisions were made by the General Shareholders Meeting on the following agenda items put to a vote:

- the annual report of PJSC “Magnit” was adopted;

- the annual accounting (financial) reports of PJSC “Magnit”, including the profit and loss statement, was adopted;

- allocation of profit (including payment (declaration) of dividends) and loss of PJSC “Magnit” following 2014 financial year results was approved;

- the Board of directors of PJSC “Magnit” was elected;

- the Revision commission of PJSC “Magnit” was elected;

- the auditor of PJSC “Magnit” in accordance with the Russian accounting standards was approved;

- the auditor of PJSC “Magnit” in accordance with the IFRS was approved;

- the Charter of PJSC “Magnit” in the new edition was ratified;

- the Regulations on the Board of directors of PJSC “Magnit” in the new edition were ratified;

- major related party transactions were approved;

- related party transactions were approved.

For further information, please contact:

Timothy Post	Director, Investor Relations Email: [e-mail] Office: [phone] x 17600 Mobile: [phone] Direct Line: [phone]
Dina Svishcheva	Deputy Director, Investor Relations Email: [e-mail] Office: [phone] x 15101 Mobile: [phone] Direct Line: [phone]

Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded on the Moscow Stock 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.

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