Press-release

    Krasnodar

    July 26, 2016

    PJSC "Magnit" Announces the Exclusion of its Bonds from the Level 3 of the List
    of Securities Admitted to Trading at MICEX due to their Advanced Redemption

    Krasnodar, July 26, 2016: PJSC "Magnit", Russia's largest food retailer (the
    "Company"; MICEX and LSE: MGNT), announces the exclusion of its bonds from the
    Level 3 of the List of securities admitted to trading at MICEX.

    Please be informed that on July 25, 2016 exchange-traded bonds of the BO-10
    series were excluded from the Level 3 of the List of securities admitted to
    trading at CJSC "MICEX Stock Exchange", due to their advanced redemption.

    Securities market maker:                      Closed Joint Stock Company "MICEX Stock Exchange"                              
                                                                                                                                 
    Type of securities:                           Non-convertible interest-bearing certified exchange-traded bonds to the bearer 
                                                  of the BO-10 series with the obligatory centralized custody,  Identification   
                                                  number of the securities issues 4?02-10-60525-? as of 30.07.2013, International
                                                  Stock Identification Number (ISIN) RU000A0JVMV2                                

    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 June 30, 2016,
    Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience,
    398 hypermarkets, and 2,588 drogerie stores) in 2,397 cities and towns
    throughout 7 federal regions of the Russian Federation.

    In accordance with the unaudited IFRS management accounts 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 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.