Magnit announces the results of the Board meeting

DJ Magnit announces the results of the Board meeting

MAGNIT PJSC (MGNT) Magnit announces the results of the Board meeting 27-May-2022 / 11:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

----------------------------------------------------------------------------------------------------------------------- Magnit announces the results of the Board meeting

Krasnodar, Russia (May 27, 2022): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the resolutions of the Board of Directors taken at the meeting held on May 26, 2022.

Nominees to the Board of Directors

Taking into account the refusal of Dmitry Dorofeev to be elected to the Board of Directors of PJSC Magnit, the Board approved the list of nominees to PJSC Magnit Board of Directors to be elected at the upcoming AGM of PJSC Magnit as follows: 1. Adamyan Naira Vilenovna; 2. Wetli Pierre-Laurent; 3. Vinokurov Alexander Semenovich; 4. Dunning Jan Gezinus; 5. Zakharov Sergey Mikhailovich; 6. Zubreeva Anastasia Leonidovna; 7. Koch Walter Hans; 8. Lepekhin Maksim Sergeevich; 9. Makhnev Alexey Petrovich; 10. Milinova Elena Mikhailovna; 11. Panchenko Aleksandr Aleksandrovich; 12. Petrov Alexey Evgenyevich; 13. Piven Sergey Aleksandrovich; 14. Puzakov Pavel Ivanovich; 15. Ryan Charles Emmitt; 16. Rozanov Vsevolod Valeryevich; 17. Simmons James Pat; 18. Titov Andrey Evgenyevich; 19. Yakovitskiy Alexey Andreevich; 20. Yasnobulka Olexander.

Election of the President of PJSC Magnit

The Board of Directors made a decision to elect Jan Dunning to the position of the President (sole executive body) of PJSC Magnit for the new term of 3 years starting from May 31, 2022 (inclusive).

His share in the charter capital of PJSC Magnit (share of voting shares) is 0.167145%.

Annual General Shareholders Meeting

The Board of Directors approved the agenda of the annual General Shareholders Meeting (AGM) of PJSC Magnit as follows: 1. Approval of the Annual report of PJSC Magnit for 2021. 2. Approval of the annual accounting (financial) reports of PJSC Magnit. 3. Approval of distribution of profits of PJSC Magnit following the results of 2021 reporting year. 4. Election of members of the Board of Directors of PJSC Magnit. 5. Approval of the auditor of PJSC Magnit for the financial statements prepared in accordance with theRussian accounting standards. 6. Approval of the auditor of PJSC Magnit for the financial statements prepared in accordance with theInternational Financial Reporting Standards.

Information materials which are to be provided to shareholders entitled to participate in the AGM will be available from June 9, 2022 on business days from 10 AM to 5 PM (break from 12 PM to 1 PM) in Magnit's head office at the following address: 15/5 Solnechnaya street, Krasnodar, Russia, tel. [phone] ext. 14992.

Materials will also be available at the Company's official website on the Internet: 1. in Russian language:

https://www.magnit.com/ru/shareholders-and-investors/shareholders-meeting/;

2. in English:

https://www.magnit.com/en/shareholders-and-investors/shareholders-meeting»/.

Please follow the link below for more information about the results of the Board of Directors meeting:

-- http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian language);

-- https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language);

-- https://www.magnit.com/en/disclosure/regulatory-news/tabs-Disclosure (in English)

For further information, please contact: 
 
       Dina Chistyak 
       Head of Investor Relations 
       [e-mail] 
 
       Office: [phone] x 15101 
 
       Media Inquiries          Twitter 
       [e-mail]          @MagnitIR 
 
 
       Note to editors 
 
        "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the 
       southern Russian city of Krasnodar. As of March 31, 2022, Magnit operated 45 distribution centers and 
       26,605 stores in 3,946 cities and towns throughout 7 federal regions of the Russian Federation. 
       In accordance with the audited IFRS 16 results for FY 2021, Magnit had revenues of RUB 1,856 billion and 
       an EBITDA of RUB 214 billion. Magnit's local shares are listed on the Moscow Exchange (MOEX: MGNT) and 
       its GDRs on the London Stock Exchange (LSE: MGNT). 
       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. 

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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.:  164551 
EQS News ID:  1362771 
 
End of Announcement EQS News Service 
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May 27, 2022 04:00 ET (08:00 GMT)