177th Hypermarket Opening

Press-release Krasnodar October 22, 2014 PJSC "Magnit" Announces the Opening of the 177th Hypermarket Krasnodar, October 22, 2014: PJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the177th hypermarket of a small format. Please be informed that today the Company has opened its 177th hypermarket of asmall format located at 90, Kotovskogo street, Vychny Volochyok, Tver oblast,Central federal region. Assortment of the hypermarket consists of about 10,300SKUs, out of which about 73% are food items. There are 15 cash desks installedin the sales area. The outlet is owned by the Company. The hypermarket is open7 days a week from 9 am to 11 pm. For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 Dina Svishcheva Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest food retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of September 30,2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891convenience, 243 hypermarkets, and 886 drogeries) in approximately 2,000 citiesand towns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 millionUSD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX:MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a creditrating from Standard & Poor's of BB. Measured by market capitalization, Magnitis one of the largest retailers in Europe.