PJSC 'Magnit' Announces Affirmation of its Rating at 'BB' level by S&P Global Ratings

Press Release | Krasnodar | January 15, 2019

PJSC "Magnit" Announces Affirmation of its Rating at "BB" level by S&P Global Ratings

Krasnodar, Russia (January 15, 2019): Magnit PJSC (MOEX and LSE: MGNT; Issuer; Company; Group), one of Russia's leading retailers, announces the affirmation of its rating at "BB" level by S&P Global Ratings.

Please be informed that on January 14, 2019 S&P Global Ratings has affirmed the rating of Magnit at "BB"; Stable outlook.

For further information, please contact

Petr Molchanov    Alisa Kvadzba   Media Inquiries

Chief Investment Officer  IR manager   Media Relations Department

Email: molchanov_ps@magnit.ru  Email: magnitIR@magnit.ru  Email: [email protected]

Office: +7-861-277-4554 x 45000  Office: +7-861-277-4554 x 17601

Note to editors:

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 September 30, 2018, Magnit operated 37 distribution centers and 17,442 stores (12,813 convenience, 457 supermarkets and 4,172 drogerie stores) in 2,866 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2018, Magnit had revenues of RUB 595 billion and an EBITDA of RUB 44 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.