Material Fact

Press-release Krasnodar May 15, 2014 OJSC "Magnit" Announces the Disposal of Shares by the Entity under the Issuer's Control Krasnodar, May 15, 2014: OJSC "Magnit", Russia's largest food retailer (the"Company", the "Issuer", MICEX and LSE: MGNT), announces the disposal of sharesby the entity which is under the Issuer's control. Full company name and joint-stock company "Tander"address: 185, Levanevskogo street, Krasnodar, Russia Taxpayer Id Number: 2310031475 Principal State 1022301598549Registration Number: Object of disposal: voting shares of the Issuer Date of disposal: May14, 2014 Amount of disposed shares: 8,518 shares (0.009008% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 326,279 votes (0.345045% of the total number of votes)disposal: Amount of votes after 317,761 votes (0.336037% of the total number ofdisposal: votes) 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 March 31, 2014,Magnit operated 23 distribution centers and over 8,200 stores (7,341convenience, 215 hypermarkets, and 700 cosmetics) in more than 1,905 cities andtowns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS consolidated financial statements for 2013,Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD.Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) andits GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit ratingfrom Standard & Poor's of BB. Measured by market capitalization, Magnit is oneof the largest retailers in Europe.