Press-release

    Krasnodar

    January 29, 2016

    PJSC "Magnit" Announces the Change of Share of the Entity under the Issuer's
    Control

    Krasnodar, January 29, 2016: PJSC "Magnit", Russia's largest food retailer (the
    "Company", the "Issuer", MOEX and LSE: MGNT), announces the change of share of
    the entity which is under the Issuer's control.

    Full company name and        Joint Stock Company "Tander"                              
    address:                     185, Levanevskogo street, Krasnodar, Russia               
                                                                                           
    Taxpayer Id Number:          2310031475                                                
                                                                                           
    Principal State Registration 1022301598549                                             
    Number:                                                                                
                                                                                           
    Object of acquisition:       voting shares of the Issuer                               
                                                                                           
    January 27, 2016             Acquisition of shares                                     
                                                                                           
    Amount of acquired shares:   1,216 shares (0.001286% of the total equity)              
                                                                                           
    Basis for acquisition:       Sale and Purchase Agreements executed in the trading of   
                                 MICEX Stock Exchange                                      
                                                                                           
    Amount of votes before       31,746 votes (0.033572% of the total number of votes)     
    acquisition:                                                                           
                                                                                           
    Amount of votes after        32,962 votes (0.034858% of the total number of votes)     
    acquisition:                                                                           
                                                                                           
    January 27, 2016             Disposal of shares                                        
                                                                                           
    Amount of disposed shares:   83 shares (0.000088% of the total equity)                 
                                                                                           
    Basis for disposal:          Sale and Purchase Agreement executed in the trading of    
                                 MICEX Stock Exchange                                      
                                                                                           
    Amount of votes before       32,962 votes (0.034858% of the total number of votes)     
    disposal:                                                                              
                                                                                           
    Amount of votes after        32,879 votes (0.034770% of the total number of votes)     
    disposal:                                                                              
                                                                                           

    For further information, please contact:

    Timothy Post                               Head of Investor Relations                  
                                               Email: post@magnit.ru                       
                                               Office: +7-861-277-4554 x 17600             
                                               Mobile: +7-961-511-7678                     
                                               Direct Line: +7-861-277-4562                
                                                                                           
    Investor Relations Office                  MagnitIR@magnit.ru                          
                                               Direct Line: +7-861-277-4562                
                                               Website: ir.magnit.com/                     
                                                                                           
    Media Inquiries                            Media Relations Department                  
                                               press@magnit.ru                             

    Company description:

    Magnit is Russia's largest food retailer. Founded in 1994, the company is
    headquartered in the southern Russian city of Krasnodar. As of December 31,
    2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594
    convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and
    towns throughout 7 federal regions of the Russian Federation.

    In accordance with the unaudited IFRS management accounts for 2015, Magnit had
    revenues of RUB 951 billion and an EBITDA of RUB 104 billion. Magnit's local
    shares are traded on the Moscow Stock 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.