Disclaimer

The Sustainability Report should be read as a whole taking into account the content of all sections as well as the notes and the explanations herein, including the information set forth in this section.

The Sustainability Report of PJSC Magnit for 2022 (hereinafter also referred to as Magnit or the Company) was prepared based on the information available to PJSC Magnit and its subsidiaries (also referred to as PJSC Magnit, Magnit or the Company) as at 31 December 2022, unless otherwise implied by the meaning or content of the information provided.

Forward-looking statements are not based on actual circumstances and include all statements concerning the Company’s intentions, opinions, or current expectations regarding its performance and sustainability strategy. By their nature, such forward-looking statements are characterised by risks and uncertainties since they relate to events and depend on circumstances that may not occur in the future.

Such terms as “assume,” “believe”, “expect”, “predict”, “intend”, “plan”, “project”, “consider” and “could” along with other similar expressions as well as those used in the negative usually indicate the predictive nature of the statement. These assumptions contain risks and uncertainties that are foreseen or not foreseen by the Company. Thus, future performance may differ from current expectations, therefore the recipients of the information presented in the Sustainability Report should not base their assumptions solely on it.

The annual General Meeting of Shareholders of PJSC Magnit scheduled for 30 June 2022 was declared inquorate. As a result, all powers of the Board of Directors except for the powers to prepare for, convene and hold an annual General Meeting of Shareholders ended under Article 66 of Federal Law No. 208-FZ On Joint-Stock Companies dated 26 December 1995.

Since February 2022, we are witnessing growing geopolitical tension and certain countries have announced and imposed and subsequently expanded various sanctions against the Russian Federation’s sovereign debt, certain Russian banks, organisations and individuals. The Russian Federation has taken a number of retaliatory measures, including those drastically changing the regulation of Russian business compared to what it was as at 31 December 2021. These events, separately or jointly with other known and unknown circumstances, including those arising after 31 December 2022 in terms of changes in the conditions for the functioning of international businesses in the territory of the Russian Federation, may affect the Company’s strategy, plans, ongoing projects and partnerships in the field of sustainable development.

In addition to official information on the activities of Magnit, this Sustainability Report contains information obtained from third parties and from sources which Magnit finds to be reliable. However, the Company does not guarantee the accuracy of this information, as it may be abridged or incomplete.

Magnit offers no guarantees that the actual results, scope, or indicators of its performance or the industry in which the Company operates will correspond to the results, scope, or performance indicators clearly expressed or implied in any forward-looking statements contained in this Sustainability Report or elsewhere.

Magnit is not liable for any losses that any person may incur due to the fact that the above person relied on forward-looking statements. Except as expressly envisaged by applicable laws, the Company assumes no obligation to distribute or publish any updates or changes to forward-looking statements reflecting any changes in expectations or new information as well as subsequent events, conditions, or circumstances.