Magnit January 2014 Results

Press-release Krasnodar February 10, 2014 OJSC "Magnit" Announces 25.22% Retail Sales Growth in Rubles for January 2014 Krasnodar, February 10, 2014: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT) announces 25.22% retail sales growth in rublesfor January 2014. During January 2014 the Company opened (net) 36 stores. The total store basereached 8,129 stores (7,234 convenience stores, 161 hypermarkets, 46 "MagnitFamily" stores and 688 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in January2014 increased by 25.22% in ruble terms (compared to January 2013) and stood at51,665.46 million rubles. Sergey Galitskiy, the Company's CEO, provided the following comment on thepublished results: "Despite significantly lower food inflation in January 2014 (1.0% according toRosstat) compared to January 2013 (1.8% according to Rosstat), sales growth inthe first month of this year conforms to our guidance". January 2014 Key Operating and Financial Highlights: January 2014 January 2013 Growth Rate Number of opened stores, NET 36 37 n/a convenience stores 34 34 n/a hypermarkets 0 0 n/a magnit family 0 1 n/a cosmetics stores 2 2 n/a Total number of stores 8,129 6,921 n/a convenience stores 7,234 6,080 n/a hypermarkets 161 126 n/a magnit family 46 21 n/a cosmetics stores 688 694 n/a Selling space growth, thousand 8.17 13.56 n/asq.m. convenience stores 7.55 10.54 n/a hypermarkets 0 0 n/a magnit family 0 1.45 n/a cosmetics stores 0.63 1.57 n/a Selling space, eop, thousand 3,019.55 2,562.81 17.82%sq. m. convenience stores 2,319.74 1,988.00 16.69% hypermarkets 482.88 387.62 24.58% magnit family 53.26 25.81 106.39% cosmetics stores 163.67 161.39 1.41% Net retail sales, million RUR 51,665.46 41,260.60 25.22% convenience stores 40,083.96 33,189.02 20.77% hypermarkets 9,075.66 6,816.40 33.14% magnit family 1,342.40 574.64 133.61% cosmetics stores 1,163.45 680.55 70.96% Net retail sales, million US$ 1,543.88 1,363.63 13.22% convenience stores 1,197.80 1,096.87 9.20% hypermarkets 271.20 225.28 20.39% magnit family 40.11 18.99 111.22% cosmetics stores 34.77 22.49 54.58% For further information, please contact: Timothy Post Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x7600 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 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994, the company isheadquartered in the southern Russian city of Krasnodar. As of December 31,2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS management accounts for 2013, Magnit hadrevenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit'slocal shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRson the London Stock Exchange (LSE: MGNT) and it has a credit rating fromStandard & Poor's of BB. Measured by market capitalization, Magnit is nowEurope's 2nd largest retailer. According to management accounts Based on the average exchange rate for January 2014 of 33.4647 RUB per 1 USD,January 2013 - 30.2580 RUB per 1 USD