Cancellation of the listing and admission to trading of the GDRs representing PJSC Magnit shares from the London Stock Exchange

Cancellation of the listing and admission to trading of the GDRs representing PJSC MAGNIT shares from the London Stock Exchange

Krasnodar, Russia (August 30, 2022): Magnit PJSC (MOEX: MGNT; Magnit, the Company), one of Russias leading retailers, in addition to the notice published by the Company on July 13, 2022, announces that earlier today:

1. The Financial Conduct Authority (UK) canceled the listing of the Global Depositary Receipts ((i) Regulation S global depositary receipts with ISIN US55953Q2021 and (ii) Rule 144A global depositary receipts with ISIN US55953Q1031) representing the Companys ordinary shares (the GDRs) from the Official List, and
2. The London Stock Exchange canceled the admission of the GDRs to trading on the Main Market.

The Company also announces that the deposit agreement it entered into with JPMorgan Chase Bank, N.A. on February 20, 2008 (the Deposit Agreement) pursuant to which the GDRs were issued, was terminated with effect from August 26, 2022. Please contact JPMorgan Chase Bank, N.A. if you have any questions concerning further actions to be taken by holders of GDRs in connection with the termination of the Deposit Agreement, including the possibility to convert the GDRs into the Companys shares in accordance with the procedures set forth by JPMorgan Chase Bank, N.A.

The Company also reminds that in accordance with the Federal law No 319-FZ On Amendment of Certain Legislative Acts of the Russian Federation that came into force on July 14, 2022:

• the procedure for receiving the corresponding number of the Companys shares by holders of GDRs deposited with Russian depositaries (Automatic Conversion) is currently being conducted;
• holders of GDRs deposited with foreign depositaries who are unable to convert such GDRs into shares of the Company, including due to sanctions, may apply to CB JP Morgan International LLC (the Custodian) with a request for compulsory conversion of such GDRs (Compulsory Conversion). Such application accompanied by relevant documents shall be submitted no later than
  October 11, 2022.

For further information on Automatic Conversion and Compulsory Conversion please contact the Custodian (contact information is available at: https://www.jpmorgan.ru/ru/contact-us).

For further information and clarification, please contact magnitGDR@magnit.ru.

This statement does not constitute individual investment, financial or legal advice. This statement is for information purposes only and PJSC Magnit shall not be liable if the interpretation of applicable laws and regulations by the relevant state authorities differs from the interpretation given in this statement. Holders of depositary receipts should make an independent decision on how to act in connection with the published statement and, if necessary, contact their investment, legal and other advisors.