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

Press-Release | Krasnodar | December 23, 2019

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

Krasnodar, December 23, 2019: PJSC "Magnit" (MOEX and LSE: MGNT; hereinafter - the "Company"), 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 December 20, 2019 S&P Global Ratings has affirmed the rating of Magnit at "BB"; Stable outlook.

For further information, please contact:

Dmitry Kovalenko

Director for Investor Relations

Email: [email protected]

Office: +7 (861) 210-48-80

Dina Chistyak

Director for Investor Relations

Email: [email protected]

Office: +7 (861) 210-9810 x 15101

Media Inquiries

Media Relations Department

Email: [email protected]

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, 2019, Magnit operated 38 distribution centres and 20,497 stores (14,507 convenience, 467 supermarkets and 5,523 drogerie stores) in 3,694 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 9M 2019, Magnit had revenues of RUB 1,000 billion and an EBITDA of RUB 63 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.