Magnit CEO Sergey Galitskiy named the CEO of the Year

Press-release Krasnodar December 12, 2014 Magnit CEO Sergey Galitskiy Has Been Named the CEO of the Year by The MoscowTimes Krasnodar, December 12, 2014: Sergey Galitskiy, CEO of "Magnit", Russia'slargest retailer (the "Company"; MICEX and LSE: MGNT) has been named the CEO ofthe Year by The Moscow Times. Magnit CEO Sergey Galitskiy became the winner in the CEO of the Year LargeCompany category by Moscow Times, for combined performance, and growth,investment and operating performance. The Moscow Times newspaper, together with Brainforce, partner for management,conducted an independent analysis of the major Russian companies with a marketcapitalization of more than 3.5 billion rubles and sales of over 100 billionrubles. The ranking is based on the Swiss Obermatt Ranking Methodology andpresented under the patronage of the Embassy of Switzerland. The results wereused to make the first international ranking of Russian top managers: CEO ofthe Year - Russia - 2014. The CEOs were ranked based on their company performance in the followingcategories: •Operating Performance: Growth of indexed EBITDA (or EBIT, Operating Income) •Investment Performance: Growth of indexed Total Shareholder Return (TSR) •Growth Performance: Growth of indexed Sales (or Operating Revenue) •Combined Performance: Average of indexed EBITDA, indexed TSR and indexed Sales •Based on audited 2013 results 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 September 30,2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000cities and 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.