Krasnodar, May 16, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT), is pleased to announce the opening of new “Magnit Family” stores.

Please be informed that on May 12, 2016 the Company has opened its 162^nd “Magnit Family” store.

The 162^nd “Magnit Family” store is located at 2 Oktyabrskiy prospekt (“Almaz” shopping center), Velikie Luki, Pskov oblast, North-Western federal region. Assortment of the store consists of about 9,700 SKUs, out of which about 87% are food items. There are 17 cash desks installed in the sales area. The outlet is leased by the Company. The store is open 7 days a week from 8 am to 11 pm.

On May 13, 2016 the Company has opened its 163^rd “Magnit Family” store.

The 163^rd “Magnit Family” store is located at 142 Moskovskaya street, Krasnodar, South federal region. Assortment of the store consists of more than 10,200 SKUs, out of which about 84% are food items. There are 12 cash desks installed in the sales area. The outlet is leased by the Company. The outlet is open 7 days a week from 9 am to 11 pm.

PJSC “Magnit” announces the opening of new “Magnit Family” stores