184th Hypermarket Opening

Press-release Krasnodar December 17, 2014 PJSC "Magnit" Announces the Opening ofthe 184th Hypermarket Krasnodar, December 17, 2014: PJSC "Magnit", Russia's largest food retailer(the "Company"; MICEX and LSE: MGNT), is pleased to announce the opening of the184th hypermarket of a small format. Please be informed that today the Company opened its 184th hypermarket of asmall format located at 156, 30 let Pobedy street ("Iceberg" shopping center),Balashov, Saratov oblast, Volga federal region. Assortment of the hypermarketconsists of more than 10,600 SKUs, out of which about 82% are food items. Thereare 19 cash desks installed in the sales area. The outlet is leased by theCompany. The hypermarket is open 7 days a week from 9 am to 10 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 drogerie stores) in approximately 2,000cities and 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.