Commencing Date of Bonds Placement

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In any EEA Member State that has implemented Directive 2003/71/EC (suchDirective, together with any applicable implementing measures in the relevanthome Member State under such Directive, the "Prospectus Directive") thiscommunication is only addressed to and is only directed at qualified investorsin that Member State within the meaning of the Prospectus Directive. Securities of PJSC Magnit have not been and will not be registered under theapplicable securities laws of Australia, Canada or Japan and, subject tocertain exceptions, may not be offered or sold within Australia, Canada orJapan or to, or for the account or benefit of, citizens or residents ofAustralia, Canada or Japan except under circumstances which will result in thefull compliance with the applicable laws and regulations promulgated by therelevant regulatory authorities in effect at the relevant time. Press-release Krasnodar May 7, 2015 PJSC "Magnit" Announces the Commencing Date of Bonds Placement Krasnodar, May 7, 2015: PJSC "Magnit", Russia's largest food retailer (the"Company"; the "Issuer", MOEX and LSE: MGNT) announces the commencing date ofbonds placement. Parameters of bonds placement: Typeofsecurities: interest-bearing non-convertible certified bonds of the 02, 03 series to the bearer with the obligatory centralized custody State registration 4-02-60525-P / 4-03-60525-Pas of 27.12.2012number of the issue anddate of registration: Maturity date: 1092nd day from the date of initiation of the Bonds placement Registration authority: FFMS of Russia Amount of securities to 5,000,000 bonds / 5,000,000 bondsbe placed: Nominal value: 1,000 rubles each Placement method: open subscription Pre-emptive rightfor not providedacquisition ofsecurities: Placement May 15, 2015commencingdate: Placement commencing date can be changed subject to the publication ofthe relevant information in the newswire and on the Company's websitehttp://www.e-disclosure.ru/portal/company.aspx?id=7671;https://ir.magnit.com/en/ not later than on May 14, 2015. The price of the Bonds placement and the procedure of its determination: The price of the Bonds placement is fixed in the amount of 1,000 (one thousand)rubles per one Bond (100% of the nominal value). From the second day of the Bonds placement within the settlement of the saleand purchase transaction the acquirer of the Bonds shall also pay theaccumulated coupon yield against the Bonds calculated by the following formula: ACI = Nom * C * ((T - T0) / 365) / 100%, where ACI - accumulated coupon interest, rubles; Nom - nominal value of one Bond, rubles; С - amount of the interest rate of the 1st coupon in percent per annum (%); T - current date of the Bonds placement; T0 - commencing date of the Bonds placement. The amount of the accumulated coupon yield per one Bond is calculated with theaccuracy to one kopeck (rounding of figures in calculation is carried outaccording to the mathematical rounding rules. In this respect, mathematicalrounding rules are the rounding method whereby the value of the integral kopeck(integral kopecks) does not change if the first figure following the roundedone is in the range from 0 to 4, and increases by one if the first figurefollowing the rounded one is in the range from 5 to 9). The completion date of the placement or the procedure of its determination: The completion date of the Bonds placement is the earliest date of thefollowing dates: a) the 5th (fifth) business day from the commencing date of the Bondsplacement; b) the date of placement of the last Bond. The date of completion of the Bonds placement shall not be later than 3-yearperiod from the date of the state registration number of the issue of Bonds. 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 March 31, 2015,Magnit operated 28 distribution centers and over 10,000 stores (8,581convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately2,180 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2014,Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion.Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB+. Measured by market capitalization, Magnit is oneof the largest retailers in Europe.