160th "Magnit Family" Store Opening

PJSC MAGNIT - 160th "Magnit Family" Store Opening

PR Newswire

London, April 25

Press-release

Krasnodar

April 25, 2016

PJSC “Magnit” Announces the Opening of the 160th “Magnit Family” Store

Krasnodar, April 25, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of the 160th “Magnit Family” store.

Please be informed that on April 21, 2016 the Company opened its 160th “Magnit Family” store located at 116 Oktyabrskaya street, Kamensk- Uralsky (“Mandarin” shopping center), Sverdlovsk oblast, Urals federal region. Assortment of the store consists of about 7,800 SKUs, out of which about 87% are food items. There are 11 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 9 am to 11 pm.

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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 March 31, 2016, Magnit operated 34 distribution centers and about 12,434 stores (9,715 convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 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.