Krasnodar, July 2, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces the change in the Company management.

Please be informed that Mr. Vyacheclav Bocharov has resigned from his position as the Head of the “Magnit” Convenience Store format. Mr. Bocharov has joined the Russian Post (Почта России) and will serve as the First Deputy CEO for the company.

Mr. Sergey Rubtsov has been appointed the new Head of the “Magnit” Convenience Store format. Mr. Rubtsov previously worked as the District Director of the “Magnit” Convenience Store format. This change is effective from July 1, 2015.

PJSC “Magnit” announces the change in the Company management