Magnit PAO : PJSC “Magnit” announces the change of share of the entity under the issuer’s control

Press-release Krasnodar January 23, 2015

PJS C "Magn it" Announces the Change of Share of the Entity under the Issu er's Control

Krasnodar, January 23, 2015: PJSC "Magnit", Russia's largest food retailer (the "Company", the "Issuer", MICEX and LSE: MGNT), announces the change of share of 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 acquisition: voting shares of the Issuer
January 20, 2015 Acquisition of shares
Amount of acquired shares: 5,114 shares (0.005408% of the total equity)
Basis for acquisition: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange
Amount of votes before acquisition: 40,440 votes (0.042766% of the total number of votes)
Amount of votes after acquisition: 45,554 votes (0.048174% of the total number of votes)
January 20, 2015 Disposal of shares
Amount of disposed shares: 5,035 shares (0.005325% of the total equity)
Basis for disposal: Sale and Purchase Agreements executed in the trading of MICEX Stock Exchange
Amount of votes before disposal: 45,554 votes (0.048174% of the total number of votes)
Amount of votes after disposal: 40,519 votes (0.042849% of the total number of votes)

For further information, please contact:

Timothy Post	Director, Investor Relations Email: [e-mail] Office: [phone] x 17600 Mobile: [phone] Direct Line: [phone]
Dina Svishcheva	Deputy Director, Investor Relations Email: [e-mail] Office: [phone] x 15101 Mobile: [phone] Direct Line: [phone]

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,
2014, Magnit operated 27 distribution centers and over 9,700 stores (3,344 convenience, 287 hypermarkets, and 1,080 drogerie stores) in approximately
2,100 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of $9,979 million USD and an EBITDA of
$1,045 million USD. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: 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.