Krasnodar, Russia (21 August, 2018): PJSC "Magnit“(MOEX and LSE: MGNT, “Group”, “Company”) Board of Directors, one of Russia’s leading retailers, approved the terms and the period of a share buy-back programme in the amount of up to 16.5 billion Rubles (the “Programme”).

Ordinary shares of PJSC “Magnit” will be repurchased on the Moscow Exchange by JSC “Tander” — operational subsidiary of PJSC “Magnit” in order to finance the Long-Term Incentive Program for top management of PJSC “Magnit” Group of Companies.

In the nearest time in accordance with the Board of Directors decision the Company will sign the agreement with a stock broker to execute envisioned share purchase transactions in the open market on behalf of the Joint-Stock company “Tander”.

The Programme will be carried out during 6 months after signing of a contract with broker. The precise amount to be bought back will depend on the share price performance and market conditions over the duration of the Programme. The maximum repurchase price amounts to 4,930 Rubles per one ordinary share and has been determined as a closing price on the Moscow Exchange as of August 20, 2018 plus 20%.

Information on the executed transactions will be disclosed on a regular basis in accordance with the applicable law.

Magnit Board of Directors approves share buy-back programme up to 16.5 billion rubles