Dividend Payment

Press-release Krasnodar August 27, 2014 OJSC "Magnit" Dividend Payment Update Krasnodar, August 27, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), announces the payment of dividends. Please be informed that the Company has made dividend payment on its sharesfollowing the results of 2013 financial year. Type of securities: ordinary registered shares State registration number of the issue: 1-01-60525-P as of 04.03.2004 Total amount of dividends accrued on shares 8,430, 144,798.25 rublesfollowing the results of 2013 financial year: Amount of dividend accrued on one share following 89.15rublesthe results of 2013 financial year: Form of yield payment: monetary funds in the currency of the Russian Federation, non-cash payment Dividend payment date for nominees and trust June 27,2014managers who are professional securities marketparticipants registered in the shareholderregister: Dividend payment date for the other shareholders July 18,2014registered in the shareholder register The Company has effected dividend payment in the amount of 8,430,135,348.35rubles, out of which 79,343.50 rubles were returned to the Company's account asof August 27, 2014 due to the absence of the accurate bank account details and/or another creditor's delay. The outstanding dividend amount is 9,449.90 rubles which represents 0.000112%of the total amount of the announced dividends. Nonpayment is due to theabsence of the bank account details required for the payment. 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 June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand 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.