PJSC MAGNIT - April 2016 Results

Press Release

Krasnodar

May 11, 2016

PJSC "Magnit" Announces 14.67% Retail Sales Growth in Rubles for April 2016[1]

Krasnodar, May 11, 2016: PJSC "Magnit", Russia's largest food retailer (the "Company"; MOEX and LSE: MGNT) announces 14.67% retail sales growth in rubles for April 2016.

During April 2016 the Company opened (net) 143 stores. The total store base reached 12,577 stores (9,771 convenience stores, 227 hypermarkets, 161 "Magnit Family" stores and 2,418 drogerie stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2016 increased by 16.09% in ruble terms (compared to 4M 2015) and stood at 342,591.71 million rubles.

According to Rosstat, general inflation in April 2016 amounted to 0.4% compared to 0.5% in April 2015, in 4M 2016 it was 2.5% compared to 7.9% in 4M 2015.

Food inflation in April 2016 amounted to 0.4% compared to 0.3% in April 2015, in 4M 2016 it was 2.7% compared to 11.2% in 4M 2015.

April and 4M 2016 Key Operating and Financial Highlights[2]:

	April 2016	April 2015	Growth Rate	4M 2016	4M 2015	Growth Rate
Number of opened stores, NET	143	163	n/a	488	572	n/a
convenience stores	56	83	n/a	177	320	n/a
hypermarkets	2	2	n/a	8	8	n/a
magnit family	4	2	n/a	6	9	n/a
drogerie stores	81	76	n/a	297	235	n/a
Total number of stores	12,577	10,283	n/a	12,577	10,283	n/a
convenience stores	9,771	8,664	n/a	9,771	8,664	n/a
hypermarkets	227	198	n/a	227	198	n/a
magnit family	161	106	n/a	161	106	n/a
drogerie stores	2,418	1,315	n/a	2,418	1,315	n/a
Selling space, eop, th. sq. m.	4,574.34	3,786.89	20.79%	4,574.34	3,786.89	20.79%
convenience stores	3,185.12	2,785.07	14.36%	3,185.12	2,785.07	14.36%
hypermarkets	658.43	581.46	13.24%	658.43	581.46	13.24%
magnit family	176.34	118.46	48.86%	176.34	118.46	48.86%
drogerie stores	554.45	301.90	83.66%	554.45	301.90	83.66%
Selling space growth, th. sq. m.	50.71	54.16	n/a	160.62	196.25	n/a
convenience stores	22.24	30.38	n/a	65.56	111.76	n/a
hypermarkets	4.78	4.43	n/a	19.29	22.37	n/a
magnit family	4.31	2.34	n/a	6.16	9.39	n/a
drogerie stores	19.38	17.00	n/a	69.61	52.73	n/a
Net retail sales, million RUR	88,156.70	76,881.84	14.67%	342,591.71	295,113.61	16.09%
convenience stores	65,548.99	57,448.07	14.10%	253,058.73	220,044.19	15.00%
hypermarkets	13,461.97	13,454.00	0.06%	52,934.86	52,184.75	1.44%
magnit family	4,697.46	3,499.34	34.24%	18,212.55	13,101.24	39.01%
drogerie stores	4,448.28	2,480.44	79.33%	18,385.56	9,783.44	87.93%
Net retail sales, million US$	1,321.85	1,452.42	(8.99)%	4,714.96	4,928.64	(4.34)%
convenience stores	982.86	1,085.29	(9.44)%	3,482.75	3,674.92	(5.23)%
hypermarkets	201.85	254.17	(20.58)%	728.52	871.53	(16.41)%
magnit family	70.44	66.11	6.55%	250.65	218.80	14.56%
drogerie stores	66.70	46.86	42.34%	253.03	163.39	54.86%

For further information, please contact:

Timothy Post	Head of Investor Relations Email: [e-mail] Office: [phone] x 17600 Mobile: [phone] Direct Line: [phone]
Investor Relations Office	[e-mail] Direct Line: [phone] Website: ir.magnit.com/
Media Inquiries	Media Relations Department [e-mail]

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, 2016, Magnit operated 34 distribution centers and about 12,434 stores (9,715 convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 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.

[1] According to management accounts

[2] Based on the average exchange rate for April 2016 - 66.6921 RUB per 1 USD, April 2015 - 52.9336 RUB per 1 USD, 4M 2016 - 72.6606 RUB per 1 USD, 4M 2015 - 59.8773 RUB per 1 USD