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PJSC MAGNIT : - Execution of the Related Party Transaction

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12/05/2016 | 03:51pm CET
    Press Release

    Krasnodar

    December 5, 2016

    Magnit Announces the Execution of the Related Party Transaction

    Krasnodar, Russia (December 5, 2016): Magnit PJSC, one of Russia's leading
    retailers (the "Company", the "Issuer���; MOEX and LSE:
    MGNT), announces the execution of the related party transaction on December 5,
    2016.

    Please be informed that on December 5, 2016 PJSC "Magnit" (the Lender) and JSC
    "Tander" (the Borrower) executed the related party transaction, according to
    which the Lender provides the loan of funds to the Borrower which is to be
    repaid by the Borrower within the period determined by the contract. The
    repayment of the loan and (or) the interest may be effected by the Borrower in
    advance, without written notice to the Lender of the loan repayment, by means
    of transfer of the loan to the bank details specified in the contract or
    otherwise not contradictory to the Civil Code of the Russian Federation (offset
    of mutual claims, assignment of a claim, etc.).

    The essentials of the transaction are as follows:

    Type of transaction:                material transaction which is not major; related party   
                                        transaction                                              
                                                                                                 
    Subject of transaction:             loan of funds                                            
                                                                                                 
    Parties and beneficiaries under     the Lender - Public Joint Stock Company "Magnit"         
    transaction:                        the Borrower - Joint Stock Company "Tander"              
                                                                                                 
    Maturity:                           loan maturity date - 03.12.2019                          
                                                                                                 
    Transaction amount:                 13,962,000,000.00 rubles, which amounts to 11.44% of the 
                                        balance sheet value of assets of the issuer              
                                                                                                 
    Interest rate:                      10.3% per annum                                          
                                                                                                 
    The assets value of the issuer as   122,003,275 thousand rubles                              
    of the closing date of the last                                                              
    reporting period preceding the                                                               
    transaction execution:                                                                       

       

    Parties interested in the execution of the transaction by the issuer:                        
                                                                                                 
    Joint Stock Company "Tander" (JSC "Tander")                                                  
    Location: 185, Levanevskogo street, Krasnodar, Russia                                        
    The share of the interested party in the charter capital of the issuer:                      
    0.011059%                                                                                    
    The share of securities of the issuer owned by the interested party: 0.011059%               
    The share in the charter capital of the legal entity, which is the party in the              
    transaction (the share of securities owned by the interested party): 0.                      
    The basis on which this entity has been acknowledged interested in the                       
    execution of this transaction:                                                               
    the entity is the shareholder, which jointly with its affiliates owns more than              
    20% of the Issuer's (PJSC "Magnit") shares, and is a party of the transaction;               
    its affiliate (PJSC "Magnit") owns more than 20% of the legal entity (JSC                    
    "Tander"), which is a party of the transaction.                                              
                                                                                                 
    "Magnit" Joint-Stock Non-Government Pension Fund ("Magnit" JSNPF)                            
    Location: office 1, letter B, 95 Moskovskaya street, Krasnodar, Russian                      
    Federation                                                                                   
    The share of the interested party in the charter capital of the issuer:                      
    0.137037%                                                                                    
    The share of securities of the issuer owned by the interested party: 0.137037%               
    The share in the charter capital of the legal entity, which is the party in the              
    transaction (the share of securities owned by the interested party): 0.                      
    The basis on which this entity has been acknowledged interested in the                       
    execution of this transaction:                                                               
    the entity is the shareholder, which jointly with its affiliates owns more than              
    20% of the Issuer's (PJSC "Magnit") shares, and its affiliate:                               
                                                                                                 
    LAVRENO LIMITED                                                                              
    Location: 20 Spirou Kyprianou, CHAPO CENTRAL, 3rd floor, Nicosia, Cyprus                     
    The share of the interested party in the charter capital of the issuer:                      
    0.222977%                                                                                    
    The share of securities of the issuer owned by the interested party: 0.222977%               
    The share in the charter capital of the legal entity, which is the party in the              
    transaction (the share of securities owned by the interested party): 0.                      
    The basis on which this entity has been acknowledged interested in the                       
    execution of this transaction:                                                               
    the entity is the shareholder, which jointly with its affiliates owns more than              
    20% of the Issuer's (PJSC "Magnit") shares, and its affiliate:                               
                                                                                                 
    Krasfin Invest Limited                                                                       
    Location: 20 Spirou Kyprianou, CHAPO CENTRAL, 3rd floor, 1075, Nicosia, Cyprus               
    The share of the interested party in the charter capital of the issuer: 0.2876%              
    The share of securities of the issuer owned by the interested party: 0.2876%                 
    The share in the charter capital of the legal entity, which is the party in the              
    transaction (the share of securities owned by the interested party): 0.                      
    The basis on which this entity has been acknowledged interested in the                       
    execution of this transaction:                                                               
    the entity is the shareholder, which jointly with its affiliates owns more than              
    20% of the Issuer's (PJSC "Magnit") shares, and its affiliate:                               
                                                                                                 
    Information on the approval of the transaction:                                              
                                                                                                 
    The transaction was approved by the General shareholders meeting of September                
    12, 2016 (minutes of the EGM of PJSC "Magnit" w/o No. of September 12, 2016).                

    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 September 30, 2016, Magnit operated 33 distribution centers
    and 13,364 stores (10,138 convenience, 407 hypermarkets and 2,819 drogerie
    stores) in 2,436 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.
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