PJSC “Magnit” (“Magnit” or the “Company”; MOEX and LSE ticker: MGNT), one of Russia’s leading retailers, further to the announcement of Launch of Share Sale as of November 14, 2017, informs that its shareholder Lavreno Limited (the “Selling Shareholder”) has entered into an agreement to sell 7,100,000 ordinary shares in the Company (the “Sale”) in the form of local Ruble denominated shares (the “Shares).

The Shares were placed through undocumented accelerated bookbuilt offering at the price of RUB 6,185 per Share. Based on such price the proceeds of the Sale to the Selling Shareholder amount to RUB 43,913,500,000.

Merrill Lynch International and VTB Capital plc (the “Joint Global Coordinators” and the “Joint Bookrunners”) act as joint global coordinators and joint bookrunners in connection with the Sale.

In connection with the Sale, each of the Company, Mr. Sergey N. Galitsky and the Selling Shareholder have agreed to lock-up arrangements on customary terms for 90 days from the date hereof (subject to customary exceptions and prior consent of the Joint Global Coordinators).

Mr. Sergey N. Galitsky has also made clear his intention to remain a long-term strategic investor in the Company.

Details of the Open subscription into which the proceeds of the Sale will be reinvested, will be announced by Magnit in due course in accordance with applicable disclosure requirements.

Magnit announces price of share