219th Hypermarket Opening

PJSC MAGNIT - 219th Hypermarket Opening

PR Newswire

London, December 23

Press-release

Krasnodar

December 23, 2015

PJSC “Magnit” Announces the Opening of the 219th Hypermarket

Krasnodar, December 23, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the 219th hypermarket of a medium format.

Please be informed that today the Company opened its 219th hypermarket of a medium format located at 38 Chucheva (“NEO” shopping center), Taganrog, Rostov oblast, Southern federal region. Assortment of the hypermarket consists of more than 24,600 SKUs, out of which about 69% are food items. There are 29 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 September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in 2,297 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements 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.