Press Release | Krasnodar | October 17, 2018

PJSC "Magnit" Announces the Decisions of the Board

Krasnodar, Russia (17 October, 2018): Magnit PJSC (MOEX and LSE: MGNT; "Company", "Issuer"), one of Russia's leading retailers, announces the decisions of the Board of Directors taken on the meeting held on October 16, 2018.

Please note that on October  16, 2018 the Board of Directors of PJSC "Magnit" announces changes to members of the collegial executive body (Management Board) of PJSC "Magnit".

Ilya Sattarov, Deputy CEO, submitted his resignation notice. The Board has accepted his resignation. The Board has at the same time elected Evgeny Melnikov to the Management Board of PJSC "Magnit".

Olga Naumova, Chief Executive Officer and the Chairman of the Management Board, commented:

"Ilya has been part of Magnit's top team for more than 8 years. During this time, he has played a major role in the company's development. We would like to express our appreciation to Ilya for his enormous commitment and wish him every further success in future.

We are very pleased to welcome Evgeny Melnikov as a member of the Management Board of PJSC "Magnit". Evgeny is the Director of IT and Information Security Directorate, he has been with Magnit for over 10 years and has great experience in information technologies. We are confident that Evgenny's participation in the Management Board will have a positive impact on the company's future. IT is a strategically important part of our development plans".

For further information, please contact:

Dina Svishcheva Media Inquiries

Head of IR Media Relations Department

Email: Chistyak@magnit.ru Email: press@magnit.ru

Office: +7-861-277-4554 x 15101

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 June 30, 2018, Magnit operated 37 distribution centers and 16,960 stores (12,503 convenience, 244 hypermarkets, 213 supermarkets and 4,000 drogerie stores) in 2,808 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.