"Magnit Family" Stores Opening

PJSC MAGNIT - "Magnit Family" Stores Opening

PR Newswire

London, July 11

Press-release

Krasnodar

July 11, 2016

PJSC “Magnit” Announces the Opening of new “Magnit Family” Stores

Krasnodar, July 11, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of new “Magnit Family” stores.

The 168th “Magnit Family” store is located at 1A Pushkina street, Gulkevichi, Krasnodar krai, Southern federal region. Assortment of the store consists of more than 7 800 SKUs, out of which about 81% are food items. There are 10 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 8 am to 10 pm.

The 169th “Magnit Family” store is located at 114 Uritskogo street, Slavgorod, Altai krai, Siberian federal region. Assortment of the store consists of about 9 000 SKUs, out of which about 86% are food items. There are 13 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 11 pm.

The 170th “Magnit Family” store is located at 6 Internatsionalnaya street, Mezhdurechensk, Kemerovo oblast, Siberian federal region. Assortment of the store consists of more than 7 100 SKUs, out of which about 86% are food items. There are 15 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 10:30 pm.

The 171st “Magnit Family” store is located at 2B Zavodskaya street, Kondopoga, Republic of Karelia, North-Western federal region. Assortment of the store consists of more than 8 800 SKUs, out of which about 82% are food items. There are 9 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 11 pm.

The 172nd “Magnit Family” store is located at 15 Leningradskoye shosse, Otradnoye, Leningradskaya oblast, North-Western federal region. Assortment of the store consists of about 8 100 SKUs, out of which about 84% are food items. There are 12 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 11 pm.

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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, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets, and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.