New "Magnit Family" Store Opening

PJSC MAGNIT - New "Magnit Family" Store Opening

PR Newswire

London, November 14

Press Release

Krasnodar

November 14, 2016

Magnit Announces the Opening of a new “Magnit Family” Store

Krasnodar (November 14, 2016): Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of a new “Magnit Family” store.

The 181st “Magnit Family” store is located at 20A Primorskaya street, Novosibirsk, Siberian federal region. Assortment of the store consists of more than 6 100 SKUs, out of which about 86% are food items. There are 13 cash desks installed in the sales area. The outlet is owned by the Company. The store is open 7 days a week from 8 am to 10 pm.

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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 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.