Changes in the Company's Management Structure

PJSC MAGNIT - Changes in the Company's Management Structure

PR Newswire

London, July 5

Press Release

Krasnodar

July 5, 2016

PJSC “Magnit” Announces the Changes in the Company’s Management Structure

Krasnodar, July 5, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, “Issuer”; MOEX and LSE: MGNT), announces the changes in the company’s management structure[1].

Please be informed that Magnit has finalized the process of sales management restructuring.

Yuriy Semenov has been appointed the new Head of Hypermarkets.

The heads of all formats – Mr. Konstantin Ilyin (convenience stores), Mr. Sergei Goncharov (drogerie stores) and Mr. Yuriy Semenov (hypermarkets) – now report to the Deputy CEO, Mr. Ilya Sattarov.

For further information, please contact:

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 March 31, 2016, Magnit operated 34 distribution centers and about 12,434 stores (9,715 convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.

[1] JSC “Tander” – main operating company of PJSC “Magnit” group of companies