MGNT.L Regulatory News (MGNT)

Press Release | Krasnodar | November 18, 2019

PJSC Magnit Announces the Board of Directors' Resolutions, Including the Decision to Call the EGM and Determination of the Record Date

Krasnodar, Russia (November 18, 2019): Magnit PJSC (MOEX and LSE: MGNT; "Company"), one of Russia's leading retailers, announces the resolutions of the Board of Directors taken at the meeting held on November 15, 2019.

The Board has made a decision to call the Extraordinary General Shareholders Meeting in the form of absentee voting. Among other items, the agenda will include the consideration of the dividend payment in January 2020, based on the 9M 2019 financial results. The Board has recommended to pay dividends on PJSC Magnit shares in the amount of RUB 15,000,332,342.45 which constitutes RUB 147.19 per one ordinary share, and set January 10, 2020 as a dividend record date.

The EGM record rate: November 29, 2019.

Voting ballots acceptance deadline: December 24, 2019.

Postal address to send the completed voting ballots: 15/5 Solnechnaya Street, Krasnodar, 350072, Russia.

The Board approved the payment of JSC Tander dividends in the total amount of RUB 20 billion (RUB 2 per one ordinary share of JSC Tander) based on the 9M 2019 financial results. PJSC Magnit is the sole shareholder of JSC Tander. The dividend payment of the subsidiary (JSC Tander) will generate the profit for the parent company (PJSC Magnit) that may be used to pay dividends to PJSC Magnit shareholders in future.

Items of the agenda of PJSC "Magnit" Board of Directors are related to the exercise of rights on ordinary registered uncertified shares, state registration number 1-01-60525-P of 04.03.2004, International Stock Identification Number (ISIN) RU000A0JKQU8.

Please follow the link below to read the full text of the Board decisions:

http://ir.magnit.com/en/information-disclosure/material-facts/

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into  effect on 3 July 2016.

For further information, please contact:

Dmitry Kovalenko

Director for Investor Relations

Email: dmitry_kovalenko@magnit.ru

Office: +7 (861) 210-48-80

Dina Chistyak

Director for Investor Relations

Email: dina_chistyak@magnit.ru

Office: +7 (861) 210-9810 x 15101

Media Inquiries

Media Relations Department

Email: press@magnit.ru

Note to editors:

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, 2019, Magnit operated 38 distribution centres and 20,497 stores (14,507 convenience, 467 supermarkets and 5,523 drogerie stores) in 3,694 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 9M 2019, Magnit had revenues of RUB 1,000 billion and an EBITDA of RUB 63 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.

Forward-looking statements:

This document contains forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate, store openings and future transactions are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.