Magnit PAO : PJSC “Magnit” Announces the Disposal of Shares by the Entity under the Issuer’s Control

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Press-release Krasnodar January 26, 2016

PJSC "Magnit" Announces the Disp osal of Shares by the Entity under the Issu er's Control

Krasnodar, January 26, 2016: PJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer", MOEX and LSE: MGNT), announces the disposal of shares by the entity which is under the Issuer's control.

Full company name and address:	Joint Stock Company "Tander" 185, Levanevskogo street, Krasnodar, Russia
Taxpayer Id Number:	2310031475
Principal State Registration Number:	1022301598549
Object of disposal:	voting shares of the Issuer
January 21, 2016	Disposal of shares
Amount of disposed shares:	5,662 shares (0.005988% of the total equity)
Basis for disposal:	Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange
Amount of votes before disposal:	37,408 votes (0.039560% of the total number of votes)
Amount of votes after disposal:	31,746 votes (0.033572% of the total number of votes)

For further information, please contact:

Timothy Post	Head of Investor Relations Email: [e-mail] Office: [phone] x 17600 Mobile: [phone] Direct Line: [phone]
Investor Relations Office	[e-mail] Direct Line: [phone] Website: http://ir.magnit.com/
Media Inquiries	Media Relations Department [e-mail]

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.