PJSC 'Magnit' Announces the Results of the BOD Meeting

Press Release | Krasnodar | January 31, 2019

PJSC "Magnit" Announces the Results of the BOD Meeting

Krasnodar, Russia (31 January, 2019): Magnit PJSC (MOEX and LSE: MGNT; "Company", "Issuer"), one of Russia's leading retailers, announces the results of the Board of Directors meeting held on January 30, 2019.

Please be informed that on January 30, 2019 the BOD meeting was held (minutes of the BOD meeting of PJSC "Magnit" are w/o No. of January 30, 2019).

The meeting agenda:

1. Inclusion of a candidate on the list of nominees for election to the PJSC "Magnit" Board of Directors at the Annual General Shareholders Meeting of  PJSC "Magnit".

7 (seven) of the 7 (seven) BOD members participating in the BOD meeting were present.

Quorum to hold the BOD meeting with this agenda is present.

Voting Results:

Item 1

Mowat Gregor William - "for", Demchenko Timothy - "for", Simmons James Pat - "for", Makhnev Alexey Petrovich - "for", Foley Paul Michael - "for", Prysyazhnyuk Alexander Mikhailovich - "for", Ryan Charles Emmitt - "for".

The decisions were made.

Content of the decisions:

The decision made on the Item 1 on the agenda:

"To include Dunning Jan Gezinus on the list of nominees for election to the Board of Directors at the Annual General Shareholders Meeting of PJSC "Magnit" following the results of the 2018 reporting year in accordance with Article 53 item 7 of the Federal law № 208-FZ of 26.12.1995".

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.

For further information, please contact:

Petr Molchanov     Media Inquiries

Chief Investment Officer   Media Relations Department

Email: molchanov_ps@magnit.ru   Email: press@magnit.ru

Office: +7-861-277-4554 x 45000  

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, 2018, Magnit operated 37 distribution centers and 17,442 stores (12,813 convenience, 457 supermarkets and 4,172 drogerie stores) in 2,866 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2018, Magnit had revenues of RUB 595 billion and an EBITDA of RUB 44 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.