Audited FY 2012 Financial Results

Press-release Krasnodar March 22, 2013

OJSC "Magnit" announces audited FY 2012 results

Krasnodar, March 22, 2013: OJSC "Magnit" (the "Company"; MICEX andLSE: MGNT) is pleased to announce its FY 2012 financial results prepared inaccordance with IFRS and audited by Ernst & Young.

During 2012 the Company added (net) 1,575 stores (1,040 conveniencestores, 36 hypermarkets, 17 Magnit Family stores and 482 cosmetics stores) andincreased its selling space by 29.39% in comparison to 2011 from 1,970.16thousand sq. m. to 2,549.26 thousand sq. m. The total store base as ofDecember 31, 2012 reached 6,884 stores (6,046 convenience stores, 126hypermarkets, 20 Magnit Family stores and 692 cosmetics stores).

Revenue in rubles increased by 34% YoY from 335,699.95 million RURin 2011 to 448,661.13 million RUR in 2012. The top line growth was due to anincrease in selling space as well as to a 5.26% increase of like-for-likesales (excl. VAT). Revenue growth in dollar terms amounted to 26%: from US$11,423.26 million to US$ 14,429.65 million.[1]

Gross margin grew from 24.33% in 2011 to 26.53% in 2012. Grossprofit in rubles increased by 45.78% from 81,663.45 million RUR (US$ 2,778.86million) to 119,051.79 million RUR (US$ 3,828.89 million).

EBITDA increased by 71.64% from 27,604.14 million RUR (US$ 939.32million) in 2011 to 47,380.48 million RUR (US$ 1,523.83 million) in 2012.EBITDA margin in 2012 amounted to 10.56%. Net debt / EBITDA ration (in rubleterms) for 2012 amounted to 1.07.

2012 net income increased by 104.14% and amounted to 25,117.17million RUR (US$ 807.81 million) vs. 12,303.84 million RUR (US$ 418.68million) in 2011.

Key figures presented in this press-release are immaterially highercompared to numbers under management accounts announced by the Company onJanuary 22, 2013. Thus, according to the audited FY 2012 results Gross andEBITDAR margins are higher by 1 bp, net income margin - by 3 bps. EBITDA andEBIT margins remained unchanged.

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[1] Based on the average exchange rate for 4Q 2012 of 31.0767 RUB per 1 USD,4Q 2011 - 31.2304 RUB per 1 USD, 12М 2012 - 31.0930 RUB per 1 USD, 12M 2011 -29.3874 RUB per 1 USD

4Q and 12M 2012 Key Operating Results

4Q 4Q Growth 12M 12M Growth 2012 2011 Rate 2012 2011 Rate Number of opened stores, NET 765 542 n/a 1,575 1,254 n/a convenience stores 523 413 n/a 1,040 1,004 n/a hypermarkets[2] 21 17 n/a 36 40 n/a magnit family 9 0 n/a 17 2 n/a cosmetics stores 212 112 n/a 482 208 n/a Total number of stores 6,884 5,309 n/a 6,884 5,309 n/a convenience stores 6,046 5,006 n/a 6,046 5,006 n/a hypermarkets3 126 90 n/a 126 90 n/a magnit family 20 3 n/a 20 3 n/a cosmetics stores 692 210 n/a 692 210 n/a Selling space, thousand sq. m. 2,549.26 1,970.16 29.39% 2,549.26 1,970.16 29.39% convenience stores 1,977.46 1,637.83 20.74% 1,977.46 1,637.83 20.74% hypermarkets 387.62 278.45 39.21% 387.62 278.45 39.21% magnit family 24.36 3.80 n/a 24.36 3.80 n/a cosmetics stores 159.83 50.09 n/a 159.83 50.09 n/a Number of customers, million 549.44 445.77 23.26% 2,033.43 1,644.43 23.66% convenience stores 497.07 415.46 19.64% 1,863.62 1,550.28 20.21% hypermarkets 39.47 26.81 47.22% 137.69 87.97 56.53% magnit family 4.34 0.82 n/a 8.87 2.20 n/a cosmetics stores 8.56 2.68 n/a 23.25 3.98 n/a

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[2] On May 14, 2012 the Company announced the reformatting of 5hypermarkets to Magnit Family stores. Detailed information can be obtainedfrom the press-releasehttp://www.magnit-info.ru/upload/iblock/f08/f081571bdef1933b951446680a26bf40.pdf

LFL Results

LFL growth 4Q 2012 - 4Q 2011[3] Convenience Hypermarkets Total stores Average ticket (excluding VAT), RUR 7.60% 6.19% 7.83%Traffic 0.38% 4.93% 0.62%Revenue, RUR 8.01% 11.43% 8.50% LFL growth 12M 2012 to 12M 2011[4] Convenience Hypermarkets Total storesAverage ticket (excluding VAT), RUR 5.73% 3.23% 5.63%Traffic (0.46)% 2.07% (0.35)%Revenue, RUR 5.25% 5.36% 5.26%

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[3] Based on 3,833 convenience stores which were opened by April 1,2011, and 50 hypermarkets which were opened by February 1, 2011, i.e. based onthe result of the convenience stores that had been operating for not less thansix months and hypermarkets that had been operating for not less than eightmonths and have achieved a mature level of sales [4] Based on 2,465 convenience stores which were opened by July 1,2010, and 25 hypermarkets which were opened by May 1, 2010, i.e. based on theresult of the convenience stores that had been operating for not less than sixmonths and hypermarkets that had been operating for not less than eight monthsand have achieved a mature level of sales

4Q[5] and FY 2012 Key Financial Results

4Q 4Q Growth Growth 2012 2011 Rate 2012 2011 Rate Net sales, mn RUR 129,176.09 95,518.36 35.24% 448,661.13 335,699.95 33.65% convenience stores 102,481.13 79,660.18 28.65% 364,236.40 287,731.79 26.59% hypermarkets 22,881.23 14,925.24 53.31% 75,418.70 46,185.07 63.30% magnit family 1,583.85 286.17 n/a 3,098.58 797.71 n/a cosmetics stores 2,207.63 628.66 n/a 5,732.51 892.82 n/a wholesale 22.24 18.11 22.81% 174.93 92.55 89.01% Net sales, mn US$ 4,156.69 3,058.51 35.91% 14,429.65 11,423.26 26.32% convenience stores 3,297.68 2,550.73 29.28% 11,714,42 9,790.99 19.64% hypermarkets 736.28 477.91 54.06% 2,425.58 1,571.59 54.34% magnit family 50.97 9.16 n/a 99.66 27.14 n/a cosmetics stores 71.04 20.13 n/a 184.37 30.38 n/a wholesale 0.72 0.58 23.42% 5.63 3.15 78.64% Gross profit, mn RUR 35,752.28 25,502.03 40.19% 119,051.79 81,663.45 45.78%Gross profit, mn US$ 1,150.45 816.58 40.89% 3,828.89 2,778.86 37.79%Gross margin, % 27.68% 26.70% n/a 26.53% 24.33% n/aEBITDAR, mn RUR 17,694.44 12,386.08 42.86% 57,770.83 34,636.97 66.79%EBITDAR, mn US$ 569.38 396.60 43.56% 1,858.00 1,178.63 57.64%EBITDAR margin, % 13.70% 12.97% n/a 12.88% 10.32% n/aEBITDA, mn RUR 14,636.97 10,317.10 41.87% 47,380.48 27,604.14 71.64%EBITDA, mn US$ 470.99 330.35 42.57% 1,523.83 939.32 62.23%EBITDA margin, % 11.33% 10.80% n/a 10.56% 8.22% n/aEBIT, mn RUR 11,508.45 7,946.76 44.82% 36,110.82 19,624.21 84.01%EBIT, mn US$ 370.32 254.46 45.54% 1,161.38 667.78 73.92%EBIT margin, % 8.91% 8.32% n/a 8.05% 5.85% n/aNet profit, mn RUR 8,326.02 5,324.81 56.36% 25,117.17 12,303.84 104.14%Net profit, mn US$ 267.92 170.50 57.14% 807.81 418.68 92.94%Net profit margin, % 6.45% 5.57% n/a 5.60% 3.67% n/a Note: net revenue in US$ terms is calculated using the dailyexchange rate.------------------------[5] Unaudited results

For further information, please contact:

Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in

Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600

Mob.: +7 (961)

508-06-61

Direct line for

investors only: +7 (861) 277-45-62

Dina Svishcheva Deputy

Director, Investor Relations

e-mail:

[email protected]

Tel. in

Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101

Mob.:

+7-961-511-02-02

Direct line for

investors only: +7 (861) 277-45-62

Company description:

Headquartered in the southern Russia city of Krasnodar, Magnit (LSEand MICEX: MGNT) is the holding company for a group of entities that operatein the retail trade under the "Magnit" brand. The chain of "Magnit" stores isone of the leading food retail networks in Russia. As of December 31, 2012 thechain consisted of 6,046 convenience stores, 126 hypermarkets, 20 "MagnitFamily" stores and 692 cosmetics stores (drogerie) in 1,605 cities and townsthroughout the Russian Federation. Approximately two-thirds of the Magnit's stores are located incities with a population of less than 500,000 inhabitants. Most of its storesare located in the Southern, North-Caucasian, Central and Volga regions. TheCompany also operates stores in the North-Western, Urals and Siberian regions.

As of December 31, 2012 Magnit operated an in-house logisticssystem consisting of 18 distribution centers, employing automated stockreplenishment systems and a fleet of 4,401 vehicles.

In accordance with the audited IFRS consolidated financialstatements for 2012, Magnit recorded consolidated revenues of approximately$14,430 million USD and a consolidated EBITDA of $1,524 million USD.