Decision to Pay Dividends

Press-release Krasnodar June 2, 2014 OJSC "Magnit" Announces the Decision to Pay Dividends Krasnodar, June 2, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company"; MICEX and LSE: MGNT) announces the decision to pay dividends for FY2013 made by the AGM. The annual general shareholders meeting, held on May 29, 2014, made thedecision to pay dividends on OJSC "Magnit" shares in the total amount of8,430,144,798.25 rubles which is 89.15 rubles per share following the resultsof 2013 financial year. Type of securities: ordinary registered shares State registration number of the securities 1-01-60525-P of March 4, 2004issue, date of registration: Governance body of the Issuer which made the General Shareholders Meetingdecision to pay dividends: Date of the decision to pay dividends: May 29, 2014 Date and the number of the minutes of Minutes w/o No. of 29.05.2014meeting where the decision to pay dividendswas made: Reporting period which the dividend is paid 2013 financial yearfor: Total amount of dividends: 8,430,144,798.25 rubles The amount of dividend accrued on one share 89.15 rublesfollowing the results of 2011 financialyear: Form of payment: monetary funds in the currency of the Russian Federation by bank transfer Dividend payment date for nominees: June 27, 2014 Dividend payment date for the other July 18, 2014shareholders: 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, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: 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.