Krasnodar, January 11, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”, “Issuer”; MOEX and LSE: MGNT), is pleased to announce the results of the BOD meeting held on January 11, 2016.

Please be informed that on January 11, 2016 the BOD meeting was held (minutes of the BOD meeting of PJSC “Magnit” are w/o No. of January 11, 2016).

The meeting agenda:

Determination of the position of the PJSC “Magnit” representative at the exercise of the voting right on the JSC “Tander” shares owned by the Company.

The following BOD members were present: S. Galitskiy, A. Arutyunyan, K. Pombukhchan and A. Shkhachemukov.

A. Aleksandrov, A. Zayonts and A. Pshenichniy provided their written opinions on the items of the agenda of the BOD meeting of PJSC “Magnit”.

The number of the BOD members participating in the meeting, including written opinions of A. Aleksandrov, A. Zayonts and A. Pshenichniy, amounts to not less than half of the number of the BOD members determined by the Charter of the Company.

Quorum to hold the BOD meeting with this agenda is present.

Content of the decision and voting results:

Item on the agenda:

“To recommend the sole executive body of PJSC “Magnit”, which is the sole shareholder of JSC “Tander”, to make the following decisions at the exercise of the voting right on the JSC “Tander” shares owned by the Company:

“To terminate in advance the authorities of Vladimir Gordeychuk, the General director for JSC ‘Tander’, to consider January 11, 2016 as the date of termination of his authorities.
To elect Alexander Barsukov as the General director for JSC ‘Tander’ for the term of 3 (three) years (passport details: information is not disclosed in accordance with the Federal Law ‘On personal data’), to consider January 12, 2016 as the date of assumption of the office.
To execute the Employment agreement with Alexander Barsukov, to authorize Sergey Galitskiy, the CEO of PJSC ‘Magnit’, which is the sole shareholder of JSC ‘Tander’, to sign the Employment agreement with the sole executive body (General director) of JSC ‘Tander’ on behalf of JSC ‘Tander’.
To authorize Alexander Barsukov, the General director for JSC ‘Tander’, to execute necessary operations related to the state registration of amendments to the Unified State Register of Legal Entities”.

Votes were cast as follows:

A. Arutyunyan — “for”, S. Galitskiy — “for”, A. Zayonts — “for”, A. Aleksandrov — “for”, K. Pombukhchan — “for”, A. Shkhachemukov — “for”, A. Pshenichniy — “for”.

The decision was made.

PJSC «Magnit» announces the results of the BoD meeting