Magnit announces EGM results

Magnit announces EGM results

Krasnodar, Russia (September 13, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the results of the Extraordinary General Shareholders Meeting.

At the Extraordinary General Shareholders Meeting (EGM) held on September 9, 2021, shareholders approved the decision to terminate powers of the Board of Directors consisted of nine members. Reflecting the decision of the AGM held on June 10, 2021 to extend the Board the following eleven members were elected to the Board of Directors of the Company at the EGM:

1.             Naira Adamyan;
2.             Pierre-Laurent Wetli;
3.             Alexander Vinokurov;
4.             Timothy Demchenko;
5.             Jan Dunning;
6.             Sergey Zakharov;
7.             Walter Koch;
8.             Alexey Makhnev;
9.             Charles Ryan;
10.        Vsevolod Rozanov;
11.        James Simmons.

The composition of the Board reflects great continuity as seven out of eleven members served on the Board for the last Board cycle.

Extension of the Board and an increase in the number of independent directors strengthens its composition with new members, who have had numerous leadership roles in the past, broad experience in the wide range of consumer-related industries and can provide considerable insights to support the Company in implementing its retail and digital strategy.

The expanded Board and its composition also reflect Company's continuous development of a strong corporate governance system in order to comply with the best practice in Russia and internationally, including gender diversity principles.

Information on the new members of the Board:

Naira Adamyan physician by training with PhD in immunology, began her business career in 1997 at Janssen Russia & CIS (pharmaceutical division of Johnson and Johnson). Over the following 18 years she held various leadership positions with increased responsibilities, including Managing Director Janssen Russia & CIS, General Manager Johnson & Johnson LLC and Board member of EMEA region of Janssen. In 2015 Naira joined Sanofi, a global biopharmaceutical company, as Country Chair of Russia and the General Manager of Eurasia. In 2018 she has been promoted to Sanofi Headquarters (Paris) to the position of Head of Eurasia, Middle East region. In 2020 she was appointed to the Global position in HQ - Head of Strategy and Innovation. Naira Chaired Board of Director of AIPM (Association of more than 60 Pharma companies) and co-Chaired InPharma (association of 14 research-based global Pharma companies). She was also a Board Member of the American Chamber of Commerce. Naira received the EY Business Women Russia 2015 award in Corporate Business nomination, listed in RBC top 25-CEO women of Russian Business.

Naira's key competences are General Management and Strategy & Innovation.

Pierre-Laurent Wetli has spent the last 20 years of his career working at Bain & Company, one of the Big-3 management consulting firms. Pierre worked at its Moscow office from 2008 until recently, leading projects for Bain's retail and consumer goods clients in Russia and the CIS. Pierre has a strong understanding of the food value chain in Russia and its transformation in the last 15-20 years and brings relevant expertise/competences in regard to strategy development, post-merger integration and commercial activities in the retail space. Currently also chairing the advisory committee of a leading Russian consumer goods company.

Sergey Zakharov during 8 years since 2004 worked with M&A and capital markets in Moscow and London in the international law firm Clifford Chance, where he advanced to a councilor. In 2012 appointed Vice-President at Summa Group. In 2014 as Executive Director he joined A1, the investment arm of Alfa Group, which he left to cofound Marathon Group in 2017. Currently Partner, Chairman of the Management Board at Marathon Group. Sergey's key competences are Investment, M&A, Governance and Strategy.

Vsevolod Rozanov has joined Bain & Company in 1993. In 2002 he moved on to join the leading Russian public investment company Sistema, holding CFO roles consecutively at the MTU-Inform, Comstar UTS and MTS JSC. In 2008 he became CEO of Sistema's Indian greenfield telecom venture, SSTL (under MTS India brand). In 2013 Vsevolod moved back to Moscow to become Sistema's Group CFO. From 2018 to 2021 he was Managing Partner in charge of Sistema's financial assets as well as South Asian businesses. Served as a member of the Board at the different companies of the Sistema Group (telecom, banking, pulp&paper etc.) Vsevolod's key competences are General Management, Finance, Capital Markets, Governance, Telecom and Digital. He currently serves as the Chairman of the Board of Sistema Capital and Sistema Asia Capital, member of the Board of MTS Bank and Fortenova Grupa.

For further information on the resolutions adopted by the EGM and the EGM poll results, please follow the link below:

• https://e-disclosure.ru/portal/company.aspx?id=7671 (Russian);
• https://www.magnit.com/ru/disclosure/regulatory-news/ (Russian);
• https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (English);
• https://data.fca.org.uk/#/nsm/nationalstoragemechanism (English).