New Hypermarkets and a "Magnit Family" Store Opening

PJSC MAGNIT - New Hypermarkets and a "Magnit Family" Store Opening

PR Newswire

London, August 8

Press-release

Krasnodar

August 8, 2016

PJSC “Magnit” Announces the Opening of New Hypermarkets and a “Magnit Family” Store

Krasnodar, August 8, 2016: PJSC “PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of new hypermarkets and a “Magnit Family” store.

The 230th hypermarket (small format) is located at 34 Zapadnyy Obkhod street, Krasnodar, Southern federal region. Assortment of the store consists of about 13 100 SKUs, out of which about 78% are food items. There are 21 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 9 am to 10 pm.

The 175th “Magnit Family” store is located at 7 Astakhova street, (“Evropeyskiy” shopping center), Kolomna, Moscow oblast, Central federal region. Assortment of the store consists of about 9 700 SKUs, out of which about 84% are food items. There are 11 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 8 am to 11 pm.

The 231st hypermarket (medium format) is located at 1 Rodiny street, Kazan, Republic of Tatarstan, Volga federal region. Assortment of the store consists of about 20 800 SKUs, out of which about 66% are food items. There are 25 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 11 pm.

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Company description:

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets, and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.