Holding of BoD Meeting

Press-release Krasnodar February 2, 2015 PJSC "Magnit" Announces the Holding of the BOD Meeting Krasnodar, February 2, 2015: PJSC "Magnit", Russia's largest food retailer (the"Company", MICEX and LSE: MGNT), is pleased to announce the holding of theBoard of Directors meeting. On February 2, 2015 the Chairman of the Board of Directors made the decision tohold the BOD meeting on February 4, 2015 with the following agenda: 1. Consideration of proposals for the nomination of candidates to stand for election to the board of directors of PJSC "Magnit" at the annual general shareholders meeting of PJSC "Magnit". 2. Consideration of proposals for the nomination of candidates to stand for election as the auditor of PJSC "Magnit" at the annual general shareholders meeting of PJSC "Magnit". 3. Determination of PJSC "Magnit" business priorities. 4. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the JSC "Tander" shares owned by the Company. 5. Determination of the position of the PJSC "Magnit" representative at the exercise of the voting right on the Retail Import LLC shares in the charter capital owned by the Company. 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 December 31,2014, Magnit operated 27 distribution centers and over 9,700 stores (8,344convenience, 287 hypermarkets, and 1,080 drogerie stores) in approximately2,100 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS management accounts for 2014, Magnit hadrevenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's localshares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs onthe 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 largestretailers in Europe.