Change of Share (BoD and Management Board Members)

Press-release Krasnodar December 24, 2014 PJSC "Magnit" Announces the Change of Share of the BoD Members and the Membersof the Management Board in the Charter Capital Krasnodar, December 24, 2014: PJSC "Magnit", Russia's largest food retailer(the "Company"; MICEX and LSE: MGNT), announces the change of share of the BoDmembers and the members of the Management Board in the charter capital. On December 24, 2014 the Company has been notified of the following changes ofshare of the BoD members and the members of the Management Board in its chartercapital. Name and Share in the Share of the Share in the Share of the Date of position charter ordinary charter ordinary change capital shares before capital shares after before change change after change change Marina 0,005489% 0,005489% 0,004748% 0,004748% DecemberIvanova 22, 2014 Member of theManagementBoard Andrey 0,209384% 0,209384% 0,210758% 0,210758% DecemberArutyunyan 16, 2014 BoD member Khachatur 0,002284% 0,002284% 0,004241% 0,004241% DecemberPombukhchan 16, 2014 Chairman ofthe BoD Alexander 0,00596% 0,00596% 0,007021% 0,007021% DecemberBarsukov 16, 2014 Member of theManagementBoard Alexander 0,007021% 0,007021% 0,006754% 0,006754% DecemberBarsukov 22, 2014 Member of theManagementBoard Ilya Sattarov 0,002025% 0,002025% 0,003400% 0,003400% December 16, 2014Member of theManagementBoard Aslan 0,00547% 0,00547% 0,006845% 0,006845% DecemberShkhachemukov 16, 2014 BoD Member 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.