Termination of Service Provision by the NSD

PJSC MAGNIT - Termination of Service Provision by the NSD

PR Newswire

London, March 30

Press-release

Krasnodar

March 30, 2016

PJSC “Magnit” Announces the Termination of Service Provision by the National Settlement Depository

Krasnodar, March 30, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, “Issuer”; MOEX and LSE: MGNT), announces the termination of service provision by the National Settlement Depository (hereinafter – the NSD) on March 29, 2016.

The NSD provided the Issuer with the services on payments of the nominal value of bonds at their redemption and payments of the coupon yield against bonds.

Full company name, the company’s registration data and location address:

Non-banking credit organization closed joint-stock company “National Settlement Depository”

Taxpayer Id Number: 7702165310

Principle State Registration Number: 1027739132563

12 Spartakovskaya street, Moscow

Type of securities:

- non-convertible interest-bearing certified exchange-traded bonds of the BO-08 series to the bearer with the obligatory centralized custody, international securities identification number (ISIN) RU000A0JTT21;

identification number assigned by the Stock Exchange: 4B02-08-60525-P of August 10, 2011;

- non-convertible interest-bearing certified exchange-traded bonds of the BO-09 series to the bearer with the obligatory centralized custody, international securities identification number (ISIN) RU000A0JTT39;

identification number assigned by the Stock Exchange: 4B02-09-60525-P of August 10, 2011.

For further information, please contact:

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 December 31, 2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.