This announcement is not for publication or distribution, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction in which offers or sales would be prohibited by law.  The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction.  Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not contain or constitute an offer of, or the solicitation of an offer to purchase or subscribe for, the shares to any person in the United States, Australia, Canada or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful.  The shares may not be offered or sold in the United States unless registered under the US Securities Act or offered in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act.  The offer and sale of the shares referred to herein has not been and will not be registered under the US Securities Act or under the applicable securities laws of Australia, Canada or Japan.  Subject to certain exceptions, the shares referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.  There will be no public offer of the shares in the United States, Australia, Canada or Japan or elsewhere.

Members of the general public are not eligible to take part in the sale. In member states of the European Economic Area ("EEA") (each, a "Relevant Member State"), this announcement and any offer if made subsequently is sent and addressed to and directed only at persons who are "qualified investors" within the meaning of the Prospectus Regulation (Regulation 2017/1129/EU, as amended or superseded). In the United Kingdom this announcement is sent and distributed to and directed exclusively at Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) who fall within Article 49(2)(A) to (D) of the Order, or (iii) to whom it may otherwise lawfully be communicated, and the shares will only be available to, and any investment activity to which this announcement relates will only be engaged in with, such persons and it should not be relied on by anyone other than such persons.

THIS ANNOUNCEMENT AND MATERIALS CONTAINED IN IT ARE PROVIDED EXCLUSIVELY FOR INFORMATION AND ARE NOT AN OFFER OR A PART OF AN OFFER OR AN INVITATION TO ACQUIRE OR DISPOSE SECURITIES IN ANY JURISDICTION INCLUDING THE USA, AUSTRALIA, CANADA AND JAPAN.

Magnit announces the registration of amendments to the bonds program

Krasnodar, Russia (December 3, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, announces the registration of the amendments to the Exchange-traded bonds program.

On November 9, 2021 the Board of Directors made the decision to approve the amendments to the Program of the PJSC Magnit exchange-traded bonds of the 004P series with the registration number 4-60525-P-004P-02E of 26.10.2020 (hereinafter "the Program"). Amendments to the Program were registered by the Moscow Exchange (Public Joint-Stock Company Moscow Exchange MICEX-RTS) on December 3, 2021.

The following information has been added to the Program:

• provisions on the possibility of placement of certain issues of the exchange-traded bonds to be further identified using the words "green bonds" and (or) "social bonds" and (or) "infrastructure bonds";
• information on the possibility of placement of the exchange-traded bonds via book-building and its procedure, including the procedure and terms of disclosure of information on the placement price, interest rate for the first coupon period;
• procedure of concluding preliminary agreements;
• information on the possibility of involvement of the Underwriter for the placement of the exchange-traded bonds;
• information that details of organizations, which can render services to the Issuer on organization of the exchange-traded bonds placement will be specified in the Terms and Conditions of the exchange-traded bonds placement (in case of their involvement);
• information that the possibility or lack of possibility of early redemption of the exchange-traded bonds, cost, procedure and conditions of early redemption, procedure of disclosure by the Issuer of information on conditions and results of early redemption, as well as other conditions of early redemption of the exchange-traded bonds will be determined in the relevant Resolution on the issue of Exchange-traded bonds.

Please follow the link below for more information:

• http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian language);
• https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian language);
• https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (in English)