Magnit Updates Guidance for 2013

Press Release Krasnodar September 24, 2013 OJSC "Magnit" Updates Guidance for 2013 Krasnodar, September 24, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), updates guidance for 2013. Based on the analysis of sales of the first eight months and first half ofSeptember this year the management of the Company updates guidance for 2013 andissues preliminary guidance for 2014 as follows: 2013 2014 (preliminary) Sales growth in RUR: 29-30% 25% EBITDA margin: in line with FY 2012 - CAPEX, US$ bn 1.6-1.7 1.7-1.8 Number of store openings, net - convenience stores 1,100 1,000 - hypermarkets and "Magnit 60-65 80 Family" - cosmetics stores 0 350 Guidance for 2014 is subject to change in the end of October - November 2012after the publication of 9M 2013 financial results. 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 by Sergey Galitskiy, thecompany is headquartered in the southern Russian city of Krasnodar. As of June30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the reviewed IFRS consolidated financial statements for 1H2013, Magnit had revenues of $8,796 million USD and an EBITDA of $890 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 now Europe's 2nd largest retailer.