Press Release

    Krasnodar

    January 27, 2017

    Magnit Announces Guidance for 2017

    Krasnodar, January 27, 2017: Magnit PJSC, one of Russia's leading retailers
    (MOEX and LSE: MGNT), announces guidance for 2017.

    Magnit announces Sales Growth and Store Openings Guidance for 2017:

                                          2017
                                              
    Sales Growth Rate (RUR):             9-13%
                                              
    Number of Store Openings (Net):           
                                              
    Convenience Stores                   1,700
                                              
    Hypermarkets                           15+
                                              
    Magnit Family                          25+
                                              
    Drogerie Stores                      1,000

    Note: 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:

    Timothy Post                               Head of Investor Relations                  
                                               Email: post@magnit.ru                       
                                               Office: +7-861-277-4554 x 17600             
                                                                                           
    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:

    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 December 31, 2016, Magnit operated 35 distribution centers and
    14,059 stores (10,521 convenience, 431 hypermarkets and 3,107 drogerie stores)
    in 2,494 cities and towns throughout 7 federal regions of the Russian
    Federation.

    In accordance with the unaudited IFRS management accounts for 2016, Magnit had
    revenues of RUB 1.07 trillion and an EBITDA of RUB 108 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.

    Forward-looking statements:

    This document contains forward-looking statements that may or may not prove
    accurate. For example, statements regarding expected sales growth rate and
    store openings 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.