Press Release

Krasnodar

October 20, 2017

PJSC "Magnit" Dividend Payment Update

Krasnodar, Russia (October 20, 2017): Magnit PJSC, one of Russia's leading retailers (the "Company"; MOEX and LSE: MGNT), announces the payment of dividends.

Please be informed that the Company has made dividend payment on its shares following the results of the half of the 2017 reporting year.

The Company has effected dividend payment in the amount of 10,922,768,716.89 rubles.

The dividend amount of 13,399.16 rubles which accounts for 0.000123% of the total amount of declared dividends has not been paid due to the absence of the bank account details required for the payment and/or another creditor's delay.

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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, 2017, Magnit operated 36 distribution centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogerie stores) in 2,664 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 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.