Press Release | Krasnodar | June 8, 2020

Magnit Announces AGM Results

Krasnodar, Russia (June 8, 2020): Magnit PJSC (MOEX and LSE: MGNT), one of Russia's leading retailers, announces the results of the Annual General Shareholders Meeting.

At the Annual General Shareholders Meeting (AGM) held on June 4, 2020, the following nine members were elected to the Board of Directors of PJSC Magnit:

1. Alexander Vinokurov;
2. Timothy Demchenko;
3. Jan Gezinus Dunning;
4. Walter Hans Koch;
5. Evgeny Kuznetsov;
6. Alexey Makhnev;
7. Gregor William Mowat;
8. Charles Emmitt Ryan;
9. James Pat Simmons.

Following the results of the 2019 reporting year, the AGM approved dividend payment for the total amount of RUB 16,000,082,735.00, or RUB 157.00 per one ordinary share.

June 19, 2020 was set as the dividend record date.

This tranche will be the second dividend payment for 2019 resulting in the total amount of dividends paid for 2019 of about RUB 31 billion. On February 14, 2020 Magnit made the first dividend payment in the amount of about RUB 15 billion (RUB 147.19 per share) for 9M 2019.

Additionally, the AGM approved the annual report and annual accounting statements for 2019, the 2019 profits distribution (including the dividend distribution, as mentioned above), as well as the proposals not to pay the remuneration and reimbursement of expenses to the members of the Audit commission.

The AGM approved Limited Liability Company Audit Firm "Faber Lex" as the auditor of PJSC Magnit statements prepared in accordance with the Russian Accounting Standards.

The AGM approved Ernst&Young Limited Liability Company as the auditor of consolidated financial statements of PJSC Magnit and its subsidiaries prepared in accordance with the International Financial Reporting Standards.

For further information on the resolutions adopted by the AGM and the AGM poll results, please follow the link below:

• https://www.magnit.com/ru/disclosure/regulatory-news/ (Russian);
• https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (English);
• https://data.fca.org.uk/#/nsm/nationalstoragemechanism  (English).

For further information, please contact:

Dmitry Kovalenko

Director for Investor Relations

Email: [email protected]

Office: +7 (861) 210-48-80

Dina Chistyak

Director for Investor Relations

Email: [email protected]

Office: +7 (861) 210-9810 x 15101

Media Inquiries

Media Relations Department

Email: [email protected]

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 March 31, 2020, Magnit operated 38 distribution centres and 20,860 stores (14,594 convenience, 472 supermarkets and 5,794 drogerie stores) in 3,718 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS results for FY 2019, Magnit had revenues of RUB 1,369 billion and an EBITDA of RUB 147 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.