PJSC MAGNIT - Execution of the Related Party Transaction

PR Newswire
London, May 15

Press-release

Krasnodar

May 15, 2015

PJSC "Magnit" Announces the Execution of the Related Party Transaction

Krasnodar, May 15, 2015: PJSC "Magnit", Russia's largest food retailer (the
"Company", the "Issuer"; MOEX and LSE: MGNT), announces the execution of the
transaction on May 15, 2015.

Please be informed that on May 15, 2015 PJSC "Magnit" (the Lender) and JSC
"Tander" (the Borrower) executed the related party transaction (material
transaction which is not major), according to which the Lender provides the
loan of funds to the Borrower which is to be repaid by the Borrower within the
period determined by the contract. The repayment of the loan and (or) the
interest may be effected by the Borrower in advance, without written notice to
the Lender of the loan repayment, by means of transfer of the loan to the bank
details specified in the contract or otherwise not contradictory to the Civil
Code of the Russian Federation (offset of mutual claims, assignment of a claim,
etc.).

The essentials of the transaction are as follows:

Type of transaction:           material transaction which is not major; related
                               party transaction

Subject of transaction:        loan of funds

Parties and beneficiaries      the Lender - PublicJoint Stock Company "Magnit"
under transaction:
                               the Borrower - JointStock Company "Tander"

Maturity:                      loan maturity date - 09.06.201 5

Transaction amount:            9,999,000,000.00 rubles, which amounts to 12.66%
                               of the balance sheet value of assets of the
                               issuer

Interest rate:                 12.00% per annum

The assets value of the issuer 78,978, 786 thousand rubles
as of the closing date of the
reporting period preceding the
transaction execution:

The transaction was approved by the General shareholders meeting on September
25, 2014 (minutes of the extraordinary shareholders meeting of PJSC "Magnit" w/
o "- of September 26, 2014).

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 March 31, 2015,
Magnit operated 28 distribution centers and over 10,000 stores (8,581
convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately
2,180 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS consolidated financial statements for 2014,
Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 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.