Krasnodar, September 21, 2016: Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT) announces the revision of its outlook to stable from negative and the affirmation of its rating at “BB+” level by Standard & Poor’s Rating Services.

Please be informed that on September 21, 2016 Standard & Poor’s Rating Services has revised the outlook on PJSC “Magnit” to stable from negative and affirmed its rating at “BB+” level. The outlook revision follows the same action on the Russian Federation. It reflects S&P’s view that Magnit’s resilient operational performance will continue.

Magnit announces the revision of its outlook to stable and the affirmation of its rating at “BB+” level by S&P