Press Release

    Krasnodar

    January 16, 2017

    PJSC "Magnit" Announces the Publication Date of its FY 2016 Unaudited Financial
    Results Prepared in accordance with the IFRS

    Krasnodar, Russia (January 16, 2017): Magnit PJSC, one of Russia's leading
    retailers (the "Company"; MOEX and LSE: MGNT), is pleased to announce the
    publication date of its FY 2016 unaudited financial results prepared in
    accordance with the IFRS.

    Please be informed that PJSC "Magnit" plans to release its FY 2016 unaudited
    financial results prepared in accordance with the IFRS and based on the
    management accounts on Friday, January 27, 2017 at 10:00 AM (Moscow time).

    For further information, please contact:

    Timothy Post                               Head of Investor Relations                  
                                               Email: post@magnit.ru                       
                                               Office: +7-861-277-4554 x 17600             
                                                                                           
    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:

    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, 2016, Magnit operated 35 distribution centers and
    14,059 stores (10,521 convenience, 431 hypermarkets and 3,107 drogerie stores)
    in 2,495 cities and towns throughout 7 federal regions of the Russian
    Federation.

    In accordance with the reviewed IFRS consolidated financial statements for 1H
    2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 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+. Measured by market capitalization, Magnit is one of
    the largest retailers in Europe.