PJSC 'Magnit' Announces the Board of Directors' Resolutions

Press Release | Krasnodar | June 4, 2019

PJSC "Magnit" Announces the Board of Directors' Resolutions

Krasnodar, Russia (4 June, 2019): Magnit PJSC (MOEX and LSE: MGNT; "Company", "Issuer"), one of Russia's leading retailers, announces the resolutions of Board of Directors taken at the meeting held on May 31, 2019.

The meeting of the Board of Directors of PJSC "Magnit" was held on May 31, 2019 (Minutes of the BOD meeting are recorded w/o No. of June 3, 2019).

Charles Ryan was elected Chairman of the Board of Directors of PJSC "Magnit", Jan Dunning - Deputy Chairman. Ilya Sokolov was elected Board Secretary.

The following directors were elected to the Audit Committee of PJSC "Magnit" Board of Directors:

Evgeny Kuznetsov was elected Chairman of the Audit Committee of PJSC "Magnit" Board of Directors.

The following directors were elected to the HR and Remuneration Committee of PJSC "Magnit" Board of Directors:

James Simmons was elected Chairman of the HR and Remuneration Committee of PJSC "Magnit" Board of Directors.

The following directors were elected to the Strategy Committee of PJSC "Magnit" Board of Directors:

Jan Duning was elected Chairman of the Strategy Committee of PJSC "Magnit" Board of Directors.

The following directors were elected to the Capital Markets Committee of PJSC "Magnit" Board of Directors:

Evgeny Kuznetsov was elected Chairman of the Capital Markets Committee of PJSC "Magnit" Board of Directors.

The following members were elected to the collective executive body (Management Board) of PJSC "Magnit" (hereinafter - "Management Board"):

Vladimir Sorokin was elected Deputy Chairman of the Management Board.

The Board authorized James Simmons to sign contracts with the members of the Management Board on behalf of PJSC "Magnit".

Jan Dunning was elected President of PJSC "Magnit" for the duration of three years effective from May 31, 2019.

The Board approved the Regulation on the Committees of PJSC "Magnit" Board of Directors.

For further information, please contact:

Dmitry Kovalenko   Dina Chistyak   

Director for Investor Relations  Director for Investor Relations  

Email: dmitry_kovalenko@magnit.ru  Email: [email protected] 

Office: +7 (861) 210-48-80   Office: +7 (861) 210-9810 x 15101

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 March 31, 2019, Magnit operated 38 distribution centres and 19,223 stores (13,909 convenience, 467 supermarkets and 4,847 drogerie stores) in 3,077 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2018, Magnit had revenues of RUB 1,237 billion and an EBITDA of RUB 90 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.