Magnit Announces Management Appointments

PJSC MAGNIT - Magnit Announces Management Appointments

PR Newswire

London, October 1

Press-release

Krasnodar

October 1, 2015

PJSC “Magnit” Announces Management Appointments

Krasnodar, October 1, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, “Issuer”; MOEX and LSE: MGNT), announces management appointments.

Please be informed that the Management of the Company has made the decision to consolidate all three retail formats and the Marketing Department under one Director. The position of "Deputy CEO for Sales" has been integrated into the Company’s organizational structure. Mr. Alexander Barsukov, who previously ran the Hypermarket Format, has been appointed as Deputy CEO for Sales.

Mr. Mikhail Tantserev has been appointed the new Head of the Hypermarket Format after working as a Director for Non-Food Purchasing.

The Head of Convenience format remains Mr. Sergey Rubtsov and the Head of the Drogerie format remains Mr. Sergey Goncharov.

All three format heads now report to Mr. Barsukov.

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 June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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.