Material Fact

Press-release Krasnodar September 10, 2014 OJSC "Magnit" Announces the Disposal of Shares by the Entity under the Issuer'sControl Krasnodar, September 10, 2014: OJSC "Magnit", Russia's largest food retailer(the "Company", the "Issuer", MICEX and LSE: MGNT), announces the disposal ofshares by 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: September5, 2014 Amount of disposed shares: 25,049 shares (0.026490% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 306,557 votes (0.324188% of the total number ofdisposal: votes) Amount of votes after 281,508 votes (0.297699% of the total number ofdisposal: votes) Date of disposal: September 8, 2014 Amount of disposed shares: 6,006 shares (0.006351% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 281,508 votes (0.297699% of the total number ofdisposal: votes) Amount of votes after 275,502 votes (0.291347% of the total number ofdisposal: votes) Date of disposal: September 9, 2014 Amount of disposed shares: 35,713 shares (0.037767% of the total equity) Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange Amount of votes before 275,502 votes (0.291347% of the total number ofdisposal: votes) Amount of votes after 239,789 votes (0.253580% 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 June 30, 2014,Magnit operated 24 distribution centers and over 8,600 stores (7,614convenience, 226 hypermarkets, and 778 drogeries) in approximately 2,000 citiesand 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.