206th Hypermarket Opening

PJSC MAGNIT - 206th Hypermarket Opening

PR Newswire

London, July 31

Press-release

Krasnodar

July 31, 2015

PJSC “Magnit” Announces the Opening of the 206th Hypermarket

Krasnodar, July 31, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the 206th hypermarket.

Please be informed that today the Company opened its 206th hypermarket of a small format located at 11 Vokzalnaya street (“Apelsin” shopping center), Velikiye Luki, Pskov oblast, North-Western Federal Region. Assortment of the hypermarket consists of more than 14,700 SKUs, out of which about 74% are food items. There are 19 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

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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 June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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.