Magnit : starts making ready-to-eat products for convenience stores

MAGNIT PJSC (MGNT) Magnit starts making ready-to-eat products for convenience stores 30-Jul-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 STARTS MAKING READY-TO-EAT PRODUCTS FOR CONVENIeNCE STORES   Krasnodar, Russia (July 30, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, started making ready-to-eat products for its convenience format in Magnit Family supermarkets. The pilot project was launched in Krasnodar and Murmansk, where customers can already buy a wide range of ready-to-eat meals. The production utilizes existing capacities of Magnit Family supermarkets; the Company only added special packaging equipment. Magnit has carefully selected products for the range to cover the main consumer scenarios (breakfast, lunch, dinner, quick meals). The assortment includes around 40 items: first and second courses, salads, breakfast and to-go meals, as well as various drinks, including morses and fresh juices. The range also includes vegetarian dishes. The Company plans to launch a separate brand for its own ready-to-eat line of products in the nearest future. Today, Magnit's ready-to-eat products are delivered to almost 50 stores in Krasnodar and Murmansk. The Company reports high demand for the range, with ham sandwiches along with Russian salad, vinegret and crab sticks being the most popular with customers. Based on the results of the pilot, Magnit will decide on scaling the project and expanding it to more stores over a wider geography. « Ruslan Ismailov Magnit's Deputy CEO and Director for Retail Chain Management »     "Products made in our Magnit Family supermarkets are delivered to our convenience stores chilled and packed into individual containers. We maintain the required temperature during the entire delivery process. All products have short shelf lives. This project enables us to respond to one of the dominant global trends - the rapid rise in popularity of ready-to-eat and ready-to-cook. We plan to improve our ready-to-cook offering for the ?onvenience format and ramp up our production capacities. We're also looking for alternative ways to develop the project, including, among other things, via construction of our own 'kitchen factories'."               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 June 30, 2021, Magnit operated 39 distribution centers and 22,344 stores (15,348 convenience, 469 supermarkets and 6,527 drogerie stores) in 3,802 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS 16 management accounts results for 1H 2021, Magnit had revenues of RUB 822.2 billion and an EBITDA of RUB 94.4 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 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.:	118819
EQS News ID:	1222917

End of Announcement	EQS News Service