MGNT.L Regulatory News (MGNT)

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MEMBERS OF THE GENERAL PUBLIC ARE NOT ELIGIBLE TO TAKE PART IN THE SALE. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA") (EACH, A "RELEVANT MEMBER STATE"), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS SENT AND ADDRESSED TO AND DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF THE PROSPECTUS DIRECTIVE ("QUALIFIED INVESTORS"). FOR THESE PURPOSES, THE EXPRESSION "PROSPECTUS DIRECTIVE" MEANS DIRECTIVE 2003/71/EC (AND AMENDMENTS THERETO, INCLUDING THE 2010 PD AMENDING DIRECTIVE), AND INCLUDES ANY RELEVANT IMPLEMENTING MEASURE IN THE RELEVANT MEMBER STATE AND THE EXPRESSION "2010 PD AMENDING DIRECTIVE" MEANS DIRECTIVE 2010/73/EU. IN THE UNITED KINGDOM THIS ANNOUNCEMENT IS SENT AND DISTRIBUTED TO AND DIRECTED EXCLUSIVELY AT QUALIFIED INVESTORS (I) WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS AMENDED (THE "ORDER") OR (II) WHO FALL WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER, OR (III) TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED, AND THE SHARES WILL ONLY BE AVAILABLE TO, AND ANY INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES WILL ONLY BE ENGAGED IN WITH, SUCH PERSONS AND IT SHOULD NOT BE RELIED ON BY ANYONE OTHER THAN SUCH PERSONS.

THIS ANNOUNCEMENT IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES. SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. PJSC MAGNIT HAS NOT REGISTERED AND DOES NOT INTEND TO REGISTER ANY PART OF THE OFFERING IN THE UNITED STATES OR TO CONDUCT A PUBLIC OFFERING OF ANY SECURITIES IN THE UNITED STATES.

Press Release

Krasnodar

December 25, 2017

PJSC "Magnit" Announces Securities Placement Commencement Date

Krasnodar, Russia (December 25, 2017): Magnit PJSC (the "Company"; MOEX and LSE: MGNT), announces the commencement date of a securities placement.

Please be informed that the shares placement commencement date (the "Placement Commencement Date") for persons which have pre-emptive rights to acquire shares is December 26, 2017.

The commencement date of the placement for other persons is December 26, 2017.

The Placement Commencement Date may be changed by decision of the Chief Executive Officer of the Company, subject to compliance with the required information disclosure procedure for changing the placement commencement date as provided for by the current legislation of the Russian Federation, the decision on the additional issue of securities (the "Decision on Additional Issue of Securities") and the Prospectus.

The completion date of the share placement (the "Placement Completion Date") shall be the earliest of the following dates:

a) the 9 (ninth) business day after the Placement Commencement Date (including the Placement Commencing Date);

b) the date on which the last share is placed.

The Placement Completion Date shall not be later than one year from the state registration of the additional issue of the Shares. The Company shall be entitled to extend this term by making the corresponding amendments to the Decision on Additional Issue of Securities according to the procedure established by applicable legislation. Each extension of the share placement period shall not exceed one year, and the total period for the placement of shares including the prolongation period shall not exceed three years from the date of the state registration of the additional issue.

The offer price (including for persons entitled to exercise the pre-emptive right to acquire shares) per one share amounts to 6,185 (six thousand one hundred and eighty five) roubles.

Shareholders of the Company have the pre-emptive right to acquire shares in additional issuance (the "Shares") pro rata to their shareholding (of shares of this type). Holders of the Company's ordinary shares as of the 10th day following the decision of the Company's Board of Directors on the offering of shares have the pre-emptive right to acquire Shares.

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