PJSC MAGNIT - EGM Results

Press-release

Krasnodar

December 19, 2014

PJSC "Magnit" Announces the EGM Results

Krasnodar, December 19, 2014: PJSC "Magnit", Russia's largest food retailer
(the "Company"; MICEX and LSE: MGNT), announces the results of the
Extraordinary General Shareholders Meeting.

Please be informed that the EGM of PJSC "Magnit" was held on December 18, 2014.

Positive decisions were made by the general shareholders meeting on the
following agenda items put to a vote:

- to pay dividends on PJSC "Magnit" shares following the results of the 9
months of 2014 financial year;

- to approve major related party transactions.

For further information, please contact:

Timothy Post                            Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x 17600
                                        Mobile: [phone]
                                        Direct Line: [phone]

Dina Svishcheva                         Deputy Director, Investor Relations
                                        Email: [e-mail]
                                        Office: [phone] x 15101
                                        Mobile: [phone]
                                        Direct Line: [phone]

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 September 30,
2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891
convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000
cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H
2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 million
USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX:
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.