April/4M 2014 Results

Press-release Krasnodar May 8, 2014 OJSC "Magnit" Announces 30.48% Retail Sales Growth in Rubles forApril 2014[1] Krasnodar, May 8, 2014: OJSC "Magnit", Russia's largest foodretailer (the "Company"; MICEX and LSE: MGNT) announces 30.48% retail salesgrowth in rubles for April 2014. During April 2014 the Company opened (net) 87 stores. The totalstore base reached 8,343 stores (7,410 convenience stores, 167 hypermarkets,50 "Magnit Family" stores and 716 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT)in 4M 2014 increased by 26.38% in ruble terms (compared to 4M 2013) and stoodat 223,676.42 million rubles. Please note that the high sales growth rate for the month of April2014 compared to April 2013 is partially due to the fact that the Easterholiday period occurred in April this year, while last year it occurred inMay. Therefore, expectations for the May sales growth rate should also beadjusted accordingly. According to Rosstat food inflation in April 2014 amounted to 1.3%compared to 0.7% in April 2013, in 4M 2014 5.4% compared to 3.7% in 4M 2013. April and 4M 2014 Key Operating and Financial Highlights: April 2014 April 2013 Growth Rate 4М 2014 4М 2013 Growth RateNumber of opened stores, NET 87 92 n/a 250 283 n/a convenience stores 69 96 n/a 210 259 n/a hypermarkets 2 2 n/a 6 8 n/a magnit family 0 1 n/a 4 2 n/a cosmetics stores 16 (7) n/a 30 14 n/a Total number of stores 8,343 7,167 n/a 8,343 7,167 n/a convenience stores 7,410 6,305 n/a 7,410 6,305 n/a hypermarkets 167 134 n/a 167 134 n/a magnit family 50 22 n/a 50 22 n/a cosmetics stores 716 706 n/a 716 706 n/a Selling space, eop, th. sq. m. 3,097.58 2,663.55 16.30% 3,097.58 2,663.55 16.30% convenience stores 2,370.48 2,057.47 15.21% 2,370.48 2,057.47 15.21% hypermarkets 497.96 414.65 20.09% 497.96 414.65 20.09% magnit family 58.08 26.94 115.58% 58.08 26.94 115.58% cosmetics stores 171.06 164.49 4.00% 171.06 164.49 4.00% Selling space growth, th. sq.m. 28.97 33.67 n/a 86.20 114.29 n/a convenience stores 20.77 27.27 n/a 58.28 80.01 n/a hypermarkets 4.43 7.19 n/a 15.08 27.03 n/a magnit family 0.00 1.13 n/a 4.82 2.58 n/a cosmetics stores 3.77 (1.92) n/a 8.02 4.66 n/a Net retail sales, million RUR 59,724.60 45,773.13 30.48% 223,676.42 176,991.00 26.38% convenience stores 45,672.74 36,088.32 26.56% 171,693.05 140,233.55 22.43% hypermarkets 11,094.96 8,214.83 35.06% 40,684.79 30,885.73 31.73% magnit family 1,790.96 703.16 154.70% 6,244.51 2,638.95 136.63% cosmetics stores 1,165.94 766.81 52.05% 5,054.07 3,232.78 56.34% Net retail sales, million US$[2] 1,674.72 1,461.00 14.63% 6,366.22 5,775.88 10.22% convenience stores 1,280.69 1,151.88 11.18% 4,886.68 4,576.35 6.78% hypermarkets 311.11 262.20 18.65% 1,157.96 1,007.92 14.89% magnit family 50.22 22.44 123.76% 177.73 86.12 106.38% cosmetics stores 32.69 24.48 33.58% 143.85 105.50 36.35% 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: +7-861-277-4562Dina 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, thecompany is headquartered in the southern Russian city of Krasnodar. As ofMarch 31, 2014, Magnit operated 23 distribution centers and over 8,200 stores(7,341 convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financialstatements for 2013, Magnit had revenues of $18,202 million USD and an EBITDAof $2,032 million USD. Magnit's local shares are traded on the Moscow StockExchange (MICEX: 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 marketcapitalization, Magnit is one of the largest retailers in Europe. --------------------------------- [1] According to management accounts [2] Based on the average exchange rate for April 2014 - 35.6625 RUBper 1 USD, April 2013 - 31.3300 RUB per 1 USD, 4M 2014 - 35.1349 RUB per 1USD, 4M 2013 - 30.6431 RUB per 1 USD