Opening of a new concept "Magnit Family" store

PJSC MAGNIT - Opening of a new concept "Magnit Family" store

PR Newswire

London, August 29

Press Release

Krasnodar

August 29, 2017

PJSC “Magnit” Announces the Opening of a new concept “Magnit Family” store

Krasnodar, Russia (August 29, 2017): Magnit PJSC, one of Russia’s leading retailers (MOEX and LSE: MGNT) announces the opening of the first “Magnit Family” store under the new concept.

Please be informed that Magnit retail chain has opened the first “Magnit Family” store under the new concept at 142 Moskovskaya street, Krasnodar. The following changes have been introduced to the format: name, exterior and interior design, equipment, assortment, principles of lay-out and adjacencies of categories. The logo and the format identity have been entirely changed. The assortment consists of about 9 thousand SKUs.

The Company plans to open a few “Magnit Family” stores under the new concept by the year end.

For further information, please contact:

Company description:

Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2017, Magnit operated 35 distribution centers and 14,844 stores (11,114 convenience, 430 hypermarkets and 3,300 drogerie stores) in 2,567 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow 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.