Press-release

    Krasnodar

    January 22, 2016

    PJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's
    Control

    Krasnodar, January 22, 2016: PJSC "Magnit", Russia's largest food retailer (the
    "Company", the "Issuer", MOEX and LSE: MGNT), announces the change of share of
    the entity which is under the Issuer's control.

    Full company name and         Joint Stock Company "Tander"                             
    address:                      185, Levanevskogo street, Krasnodar, Russia              
                                                                                           
    Taxpayer Id Number:           2310031475                                               
                                                                                           
    Principal State Registration  1022301598549                                            
    Number:                                                                                
                                                                                           
    Object of acquisition:        voting shares of the Issuer                              
                                                                                           
    January 18, 2016              Acquisition of shares                                    
                                                                                           
    Amount of acquired shares:    5,731 shares (0.006061% of the total equity)             
                                                                                           
    Basis for acquisition:        Sale and Purchase Agreements executed in the trading of  
                                  MICEX Stock Exchange                                     
                                                                                           
    Amount of votes before        31,677 votes (0.033499% of the total number of votes)    
    acquisition:                                                                           
                                                                                           
    Amount of votes after         37,408 votes (0.039560% of the total number of votes)    
    acquisition:                                                                           

    For further information, please contact:

    Timothy Post                               Head of Investor Relations                  
                                               Email: post@magnit.ru                       
                                               Office: +7-861-277-4554 x 17600             
                                               Mobile: +7-961-511-7678                     
                                               Direct Line: +7-861-277-4562                
                                                                                           
    Investor Relations Office                  MagnitIR@magnit.ru                          
                                               Direct Line: +7-861-277-4562                
                                               Website: ir.magnit.com/                     
                                                                                           
    Media Inquiries                            Media Relations Department                  
                                               press@magnit.ru                             

    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.