New Hypermarket and "Magnit Family" Store Opening

Press-release Krasnodar December 23, 2014 PJSC "Magnit" Announces the Opening of a New Hypermarket anda "Magnit Family" Store Krasnodar, December 23, 2014: PJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT), is pleased to announce the opening of a newhypermarket and a "Magnit Family" store. Please be informed that today the Company has opened its 186th hypermarket and93rd "Magnit Family" store. The 186th hypermarket (small format) is located at 174, 40-letiya Pobedystreet, Krasnodar, Southern federal region. Assortment of the hypermarketconsists of about 13,600 SKUs, out of which about 73% are food items. There are19 cash desks installed in the sales area. The outlet is owned by the Company.The hypermarket is open 7 days a week from 9 am to 11 pm. The 93rd "Magnit Family" store is located at 67/1, Sovetskaya street, Belebey,Republic of Tatarstan, Volga federal region. Assortment of the store consistsof about 7,100 SKUs, out of which about 87% are food items. There are 13 cashdesks installed in the sales area. The outlet is owned by the Company. Thehypermarket is open 7 days a week from 9 am to 11 pm. 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 September 30,2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000cities and 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.