Krasnodar, Russia (28 November, 2018): Magnit PJSC (MOEX and LSE: MGNT; “Company”, “Issuer”), one of Russia’s leading retailers announces the results of the Board of Directors meeting held on November 26, 2018.

Please be informed that on November 26, 2018 the BOD meeting was held (minutes of the BOD meeting of PJSC “Magnit” are w/o No. of November 27, 2018).

The meeting agenda:

Approval of the Regulations on LTI program for key employees of JSC “Tander”.
Approval of the additional agreement to the agreement with a sole executive body of PJSC “Magnit”.

7 (seven) of the 7 (seven) BOD members participating in the BOD meeting were present. Quorum to hold the BOD meeting with this agenda is present.

Voting Results:

Item 1-2

Mowat Gregor William — “for”, Demchenko Timothy — “for”, Simmons James Pat — “for”, Makhnev Alexey Petrovich — “for”, Foley Paul Michael — “for”, Prysyazhnyuk Alexander Mikhailovich — “for”, Ryan Charles Emmitt — “for”.

The decisions were made.

Content of the decisions:

The decision made on the Item 1 on the agenda:

“To approve the Regulation on LTI program for key employees of JSC ‘Tander’, including draft of the share purchase agreement with key JSC ‘Tander’ employees which is the annex to the Regulations”.

The decision made on the Item 2 on the agenda:

“To approve the additional agreement to the agreement with the person exercising the power of the sole executive body of PJSC ‘Magnit’, including the draft of the share purchase agreement shares with the person exercising the power of the sole executive body of PJSC ‘Magnit’, which is the annex to the additional agreement”.

PJSC “Magnit” Announces the Results of the BOD Meeting