Magnit Started Implementing Pay-With-A-Glance Technology in its Stores

DJ Magnit Started Implementing Pay-With-A-Glance Technology in its Stores

MAGNIT PJSC (MGNT) 
Magnit Started Implementing Pay-With-A-Glance Technology in its Stores 
22-Apr-2021 / 13:00 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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MAGNIT started IMPLEMENTing PAY-WITH-A-GLANCE TECHNOLOGY IN ITS STORES 
 
Krasnodar (Russia), April 22, 2021: Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, 
continues to introduce convenient checkout technologies. A new "pay-with-a-glance" payment option is already available 
in ten stores of almost every format of Magnit stores in the cities of Moscow, Krasnodar, and Rostov-on-Don. By June, 
the Company plans to expand the service to more than 100 stores in Moscow and Krasnodar. 
The pay-with-a-glance payment service is being implemented in a partnership with Sberbank. The solution uses a tablet 
fitted with a 3D camera that can easily read facial features and curves and account for possible changes in appearance 
thanks to its high recognition accuracy and depth mapping. The bank ensures maximum security and prevents any hacking 
or spoofing of biometric data due to continuous improvement of recognition methods. 
The new technology is available to Sberbank's customers who have already enabled face recognition at a branch office or 
in the Sberbank Online mobile application and assigned the card to debit funds from. When checking out in a Magnit 
store where the technology is being tested, the customer just needs to select the "Pay with a Glance" option on the 
keypad display and look at the tablet-no other actions are required. 
Magnit has not limited piloting of the pay-with-a-glance payment solution to one format - the new feature is already 
available in Magnit Convenience and Cosmetic stores, Magnit Family supermarkets, and Magnit Extra superstores, both at 
self-service terminals and at regular staffed checkout desks. The service is also available in Magnit's new format - 
Magnit Go kiosk, located near the Company's HQ in Krasnodar. 
« 
Eduard Iryshkov 
Director of     "The new technology makes it easy to purchase goods without cash, a card, or a phone. Preliminary 
Magnit's Retail   results show that the payment process has accelerated several times and now takes only 3 seconds 
Technologies    instead of 34 when paying cash and 15 in case of cashless payment. The decision on scaling will be 
Department     taken once we examine customer feedback and potential impact of the service on the business 
          performance." 
» 
 
« 
 
Dmitry Malykh 
        "Biometrics isn't just another 'future tech' anymore, it's a part of our daily life. Now you can pay for 
Director of  groceries at your neighborhood store with a single glance. We're very happy to see how fast this 
Sberbank's   technology is gaining in popularity. In less than a year, we have moved on from piloting the project in 
Acquiring   Moscow coffee shops to implementing it in retail stores in the regions. I'm certain that this is only 
Division    the beginning and that, in the future, this payment option will become more popular than paying by card 
        or cash." 
» 
 
       For further information, please contact: 
 
       Dmitry Kovalenko 
       Director for Investor Relations 
       [e-mail] 
       Office: [phone] 
 
       Dina Chistyak 
       Director for Investor Relations 
       [e-mail] 
       Office: [phone] x 15101 
 
       Media Inquiries          Twitter 
       [e-mail]          @MagnitIR 
 
       Note to editors 
 
       Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is 
       headquartered in the southern Russian city of Krasnodar. As of December 31, 2020, Magnit operated 38 
       distribution centres and 21,564 stores (14,911 convenience, 470 supermarkets and 6,183 drogerie stores) 
       in 3,752 cities and towns throughout 7 federal regions of the Russian Federation. 
       In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion 
       and an EBITDA of RUB 178.2 billion. Magnit's local shares are traded on the Moscow 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. 
       Forward-looking statements 
 
       This document contains or may contain forward-looking statements that may or may not prove accurate. For 
       example, statements regarding expected sales growth rate and/or store openings are forward-looking 
       statements. Forward-looking statements involve known and unknown risks, uncertainties and other important 
       factors that could cause actual results to differ materially from what is expressed or implied by the 
       statements. Any forward-looking statement is based on information available to Magnit as of the date of 
       the statement. All written or oral forward-looking statements attributable to Magnit are qualified by 
       this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement 
       to reflect any change in circumstances. ----------------------------------------------------------------------------------------------------------------------- 
ISIN:      US55953Q2021 
Category Code: MSCU 
TIDM:      MGNT 
LEI Code:    2534009KKPTVL99W2Y12 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:  100593 
EQS News ID:  1187711 
 
End of Announcement EQS News Service 
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April 22, 2021 06:00 ET (10:00 GMT)