"Magnit Family" Stores Opening

PJSC MAGNIT - "Magnit Family" Stores Opening

PR Newswire

London, December 8

Press-release

Krasnodar

December 8, 2015

PJSC “Magnit” Announces the Opening of the New “Magnit Family” Stores

Krasnodar, December 8, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the new “Magnit Family” stores.

Please be informed that today the Company opened the following “Magnit Family” stores.

The 140th “Magnit Family” store is located at 70 Ryabikova street (“Alyans” shopping center), Ulyanovsk, Volga federal region. Assortment of the store consists of more than 6,300 SKUs, out of which about 92% are food items. There are 10 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 8:30 am to 10:30 pm.

The 141st “Magnit Family” store is located at 38 Mira prospekt / 33A Nevskogo street, Kotlas, Arkhangelsk oblast, North-Western federal region. Assortment of the store consists of more than 10,000 SKUs, out of which about 87% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The hypermarket is open 7 days a week from 8 am to 11 pm.

The 142nd “Magnit Family” store is located at 70?, 3 Internatsionala street, Millerovo, Rostov oblast, Southern federal region. Assortment of the store consists of about 7,500 SKUs, out of which about 89% are food items. There are 13 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 10 pm.

For further information, please contact:

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 September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in 2,297 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.