MAGNIT PJSC: Magnit announces the results of the Board meeting

MAGNIT PJSC (MGNT) MAGNIT PJSC: Magnit announces the results of the Board meeting 09-Sep-2021 / 09:59 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.  Magnit announces results of the board meeting   Krasnodar, Russia (September 9, 2021):Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, today announces the results of the Board of Directors meeting held on September 8, 2021.   On September 8, 2021, the Board of Directors made a decision to exclude Maria Dei, Supply Chain Director, from the Management Board.   Among other decisions, the Board approved changes to the total remuneration of the auditor's services under IFRS for the audit of the consolidated financial statements of PJSC Magnit and its subsidiaries for the year of 2021, as well as other services that may be provided by PJSC Magnit's auditor in 2021, including the statements review, up to Rub 85 million (inclusive). This decision reflects an increase in the scope of the audit services due to the acquisition of the DIXY retail business.     The Audit Committee approved Policy for approval of external auditor's services (the Audit Fees Policy). The Audit Fees Policy oversees the approval process for services provided to Magnit Group by Company's external auditors and assures auditors' independence. According to the Audit Fees Policy, Magnit will limit the total fees for non-audit services in a calendar year to an amount not exceeding 50% of the total fees for the audit and audit-related services in the relevant year with the effect from January 1, 2022.     Please follow the links below to view more details of the BOD decisions: http://www.e-disclosure.ru/portal/company.aspx?id=7671 (in Russian); https://www.magnit.com/ru/disclosure/regulatory-news/ (in Russian); https://www.magnit.com/en/disclosure/regulatory-news/#tabs-Disclosure (in English).   Please follow the links below for the text of the Policy: https://www.magnit.com/ru/disclosure/internal-regulations/ (in Russian); https://www.magnit.com/en/disclosure/internal-regulations/(in English).           For further information, please contact:     Dina Chistyak Director for Investor Relations  [e-mail] Office: [phone] x 15101   Media Inquiries                    Twitter [e-mail]                    @MagnitIR               Note to editors   Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2021, Magnit operated 39 distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) in 3,770 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB.       Forward-looking statements   This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected completion of the transaction, sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.

ISIN:	US55953Q2021
Category Code:	MSCU
TIDM:	MGNT
LEI Code:	2534009KKPTVL99W2Y12
OAM Categories:	3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:	121786
EQS News ID:	1232232

End of Announcement	EQS News Service