Krasnodar, Russia (24 March, 2020): Magnit PJSC (MOEX and LSE: MGNT; the Company, the Group), one of Russia’s leading retailers, announces the change of stake of ordinary shares in the charter capital of PJSC Magnit owned by Jan Gezinus Dunning, CEO, President, Chairman of the Management Board of PJSC Magnit, and the change of share by JSC Tander (a subsidiary of the Company)

On March 24, 2020 the Company was notified on the following change of share of Jan Gezinus Dunning, CEO and President (Chairman of the Management Board) of PJSC Magnit, in the charter capital.

Date of change	Share in the charter capital before change	Ordinary shares stake before change	Share in the charter capital after change	Ordinary shares stake after change
March 23, 2020	0,103775%	0,103775%	0,144180%	0,144180%

According to the terms of the employment contract dated January 18, 2019, concluded with Jan Dunning, he is entitled to the Group’s shares provided that he continues to work in the Group on the exercise date of the share transfer. The number of shares of the Group to which the rights will be transferred is fixed and amounts to 164,710 ordinary shares of the Group. Share-based payment is deferred and involves the transfer of shares during 3 years, including: 50% of fixed number of shares no later than 31 May 2019, 25% no later than 31 March 2020, 25% no later than 31 March 2021, subject to continued work in the Group.

In April 2019 JSC Tander (a subsidiary of the Company) purchased 164,710 ordinary shares of PJSC Magnit on the Moscow Exchange for the purposes of share award remuneration to the Chief Executive Officer and the President of the Company, Jan Dunning, in accordance with the terms of his employment contract.

In May 2019 as part of the fulfillment of obligations under the employment contract, concluded with Jan Dunning, JSC Tander made the first payment and transferred 50% of the fixed number of shares — 82,355 ordinary shares of PJSC Magnit — to Jan Dunning. His share in the charter capital of PJSC Magnit amounted to 0.080810%.

In June 2019 for the purposes of implementing the long-term incentive program for key management personnel, the Group granted 23,404 ordinary shares to Jan Dunning. As a result, his share in the charter capital of PJSC Magnit increased to 0.103775%.

On March 23, 2020 as part of the fulfillment of obligations under the employment contract dated January 18, 2019, JSC Tander made the second payment and transferred 25% of the fixed number of shares — 41,177 ordinary shares of PJSC Magnit — to Jan Dunning. His share in the charter capital of PJSC Magnit increased to 0.144180% (146,936 ordinary shares).

Full information on the share-based payments under the employment contract dated January 18, 2019, concluded with Jan Dunning, the Chief Executive Officer and the President of the Group, is available in Note 31 of the Audited Consolidated Financial Statements of PJSC Magnit for 2019.

Magnit notifies on the transactions by persons discharging managerial responsibilities and persons clearly associated with them (PDMR/PCA)