Krasnodar, Russia (July 21, 2017): Magnit PJSC, one of Russia’s leading retailers (MOEX and LSE: MGNT), updates guidance for 2017.

Based on the analysis of sales of the first six months this year the management of the Company updates guidance for 2017:

	2017 (Previous)	2017 (New)
Sales Growth in RUR:	9-13%	9-11%
Number of Store Openings, net
— Convenience stores	1,700	2,000+
— Hypermarkets	15+	13
— “Magnit Family”	25+	15
— Drogerie stores	1,000	1,000

Please note that the new guidance for hypermarket and “Magnit Family” openings is net of closings. The store closings of hypermarkets and “Magnit Family” in the 1H 2017 are part of the ongoing campaign to close unprofitable stores. Gross number of openings will be consistent with the previous guidance of 15 hypermarkets and 25 “Magnit Family”.

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

PJSC “Magnit” updates guidance for 2017