PJSC MAGNIT - Change of Share

Press-release

Krasnodar

January 26, 2016

PJSC "Magnit" Announces the Change of Share in the Charter Capital

Krasnodar, January 26, 2016: PJSC "Magnit", Russia's largest food retailer (the "Company"; MOEX and LSE: MGNT), announces the change of share in the charter capital of PJSC "Magnit" (ordinary shares stake) owned by Ilya Sattarov, the member of the PJSC "Magnit" Management Board.

On January 26, 2016 the Company was notified of the following changes of share of Ilya Sattarov, the Management Board member, in the charter capital.

Date of change	Share in the charter capital before change	Share of the ordinary shares before change	Share in the charter capital after change	Share of the ordinary shares after change
January 19, 2016	0,002957%	0,002957%	0,002956%	0,002956%
January 21, 2016	0,002956%	0,002956%	0,002587%	0,002587%
January 22, 2016	0,002587%	0,002587%	0,002375%	0,002375%

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 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 reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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.