Press Release | Krasnodar | March 6, 2019

PJSC "Magnit" Reports on Completion of Share Buy-back Programme and on Transactions within the Share Buy-Back Programme

Krasnodar, Russia (March 06, 2019): Magnit PJSC (MOEX and LSE: MGNT) (the "Company"), one of Russia's leading retailers, announces the completion of the share buyback programme of the Company's ordinary shares (ISIN: RU000A0JKQU8) (the "Shares") announced on August 21, 2018 subject to the amendments announced on October 5, 2018 (the "Programme").

During the Programme, between September 5, 2018 and March 1, 2019, the Company purchased 5,897,776 shares; the cost of shares purchased by JSC "Tander" (subsidiary company of PJSC "Magnit") from Renaissance Broker LLC ("Renaissance") amounts to 22,199,822,191 rubles based on the average purchase price.

Renaissance has, between February 28, 2019 and March 1, 2019, made purchases of the Company's shares on the Moscow Exchange pursuant to the Company's share buyback.

Aggregated and detailed information regarding such purchases is set out below.

The Shares have been sold by Renaissance to JSC Tander at a price linked to the average price on the Moscow Exchange for the buy-back period, determined in accordance with the terms agreed between Tander and Renaissance.

Aggregated Information on the transactions for the period related to the present announcement:

Schedule of Purchases:

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), a full breakdown of the individual trades conducted by Renaissance under the Programme during the period to which this announcement relates is available on the pages linked below:

• http://ir.magnit.com/en/information-disclosure/reports-on-buy-back/ (in english);
• http://ir.magnit.com/ru/raskryitie-informatsii/soobshheniya-na-etapah-protseduryi-obratnogo-vyikupa-aktsiy/ (in russian);
• http://www.e-disclosure.ru/portal/files.aspx?id=7671&type=10 (in russian)

For further information, please contact:

Dmitry Kovalenko    Media Inquiries

Director for Investor Relations   Media Relations Department

Email: kovalenko_dv3@magnit.ru   Email: press@magnit.ru

Office: +7-861-277-4554 x 46082  

Note to editors:

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, 2018, Magnit operated 37 distribution centers and 18,399 stores (13,427 convenience, 467 supermarkets and 4,505 drogerie stores) in 2,976 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2018, Magnit had revenues of RUB 1,237 billion and an EBITDA of RUB 90 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.