MGNT.L Regulatory News (MGNT)

Press Release

Krasnodar

May 18, 2018

PJSC "Magnit" Announces Management Appointments

Krasnodar, Russia (May 18, 2018): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT) announces management appointments.

Artem Smolenskiy has been appointed as Deputy Executive Director, Operations. He will be responsible for operational management of all the store formats.

The HR and Administrative Management Directorate has been established in the Company's organizational structure. Ms. Tatyana Knyazeva has been appointed the Head of this Directorate. She will be responsible for the following areas related to HR management: organizational development, recruitment, training, staff development, incentive system, corporate culture, and internal communications.

"We continue to work on the improvement of customer service and realize that it depends a lot on our employees. Therefore, we made a decision to strengthen these two directions at the same time - store formats operations and the HR unit. We are pleased to have Artem and Tatyana joining our team. They have all the necessary professional skills and knowledge, which will support the improvement of the Company's efficiency", commented Khachatur Pombukhchan, CEO of PJSC "Magnit".

Note to Editors:

In 2000, Artem Smolenskiy started his career in retail at Polaris Computing Center chain. Then he worked at Dixy Group for five years as the Head of Sales. In 2010-2011, Mr. Smolenskiy was the Head of FMCG "Raytsentr" chain in Nizhny Novgorod. From 2011 to 2014, he was Managing Partner in Noretek Group. During the period of February, 2014 to May, 2018, Mr. Smolenskiy held various senior positions in operational management at the "Pyaterochka" retail chain.

During the period of 1998 to 2002, Tatyana Knyazeva headed the HR department of the East Line Company. From 2002 to 2008, she held various senior HR positions at "Rosgosstrakh". From 2009 to 2011, she was employed by Oranta Eureko as the Director of HR, during the years of 2013 to 2014, she worked as HR Director of "Domodedovo" airport. From 2014 to 2017, Ms. Knyazeva worked as HR Director of "Pyaterochka" retail chain.

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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 March 31, 2018, Magnit operated 37 distribution centers and 16,625 stores (12,283 convenience, 242 hypermarkets, 210 Magnit Family stores and 3,890 drogerie stores) in 2,764 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for 2017, Magnit had revenues of RUB 1,143 billion and an EBITDA of RUB 92 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.