Jim Rogers to join PhosAgro Board of Directors

For Immediate Release 16 September 2014 Well-Known Investor Jim Rogers to join PhosAgro Board of Directors Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leadingvertically integrated phosphate-based fertilizer producers, announces that anEGM on 16 September 2014 elected a new Board of Directors. When re-electing the Board of Directors, the EGM has voted in Jim Rogers, theco-founder of Quantum Fund and owner of Rogers Holdings, as an independentnon-executive director ("INED") of PhosAgro. Quantum Fund co-founder, Rogers Holdings investments owner and PhosAgro Boardof Directors member Jim Rogers said: "PhosAgro is an excellent company thatoffers investors excellent value due to the high-quality fertilizers itproduces, its vertical integration and low production costs. I have watched thecompany successfully develop as a global player over the last few years, withflexible sales and production models that have helped it reach new markets,while investments in its Russian production assets have enabled PhosAgro toexpand and improve its product portfolio. "While Russian stocks have been under pressure through most of 2014, I thinkthat PhosAgro's share performance, which is among the best for Russiancompanies in 2014, shows that investors understand the Company has world-classassets and holds significant potential for sustainable growth. "I am excited to be joining PhosAgro's Board today, and look forward to workingwith the rest of the Directors and management to build value for shareholders." PhosAgro CEO Andrey Guryev said: "I am thrilled that Jim Rogers joined theBoard, and PhosAgro is the first Russian company with which Mr. Rogers hasagreed to work in this capacity. Jim's reputation precedes him as an investor,and his knowledge of the global commodities markets, including fertilizers, isexceptional." Following the EGM, PhosAgro's New Board of Directors will now include thefollowing members: * Igor Antoshin - Member of the PhosAgro Board of Directors, Advisor to the CEO of PhosAgro * Andrey A. Guryev - Member of the PhosAgro Board of Directors, CEO of PhosAgro * Andrey G. Guryev - Member of the PhosAgro Board of Directors, Vice President of the Russian Union of Chemists * Sven Ombudstvedt - Member of the PhosAgro Board of Directors, CEO of Norske Skog * Roman Osipov - Member of the PhosAgro Board of Directors, Director for Business Development of PhosAgro * Marcus Rhodes - Member of the PhosAgro Board of Directors * Ivan Rodionov - Member of the PhosAgro Board of Directors * Jim Rogers - Member of the PhosAgro Board of Directors, owner of Rogers Holdings investment company Short biographical information Jim Rogers, a native of Demopolis, Alabama, is an author, financialcommentator, adventurer, and successful international investor. After attendingYale and Oxford University, Rogers co-founded the Quantum Fund, aglobal-investment partnership. During the next 10 years, the portfolio gained4200%, while the S&P rose less than 50%. Rogers then decided to retire - at age37. Continuing to manage his own portfolio, Rogers kept busy serving as a fullprofessor of finance at the Columbia University Graduate School of Business,and, in 1989 and 1990, as the moderator of WCBS's `The Dreyfus Roundtable' andFNN's `The Profit Motive with Jim Rogers'. In 1998, Rogers founded the RogersInternational Commodity Index, which was designed to meet the need forconsistent investing in commodities through a broad-based internationalvehicle. The index tracks 38 commodity futures contracts from 13 internationalexchanges. In addition to serving on the PhosAgro Board of Directors, Jim Rogers alsoholds the following positions: * Independent Director - FAB Universal Corp * Non-Executive Director - Geo Energy Resources Ltd * Non-Executive Director - Shenzhen Qianhai First China Precious Metals Exchange Centre Ltd * Director - Spanish Mountain Gold Ltd * Director - The Zweig Fund, Inc. * Director - The Zweig Total Return Fund, Inc. * Adviser - CQS * Adviser - Forbes & Manhattan * Adviser - Genagro Ltd * Adviser - Laguna Bay Pastoral Company * Adviser - Santiago Gold Fund, LP For further information please contact: OJSC PhosAgro Irina Evstigneeva, Head of Corporate Finance and Investor [email protected]+7 495 231 3115 Timur Belov, Press Officer+7 495 232 9689 EM Sam [email protected]: +44 7554 993 032t: +7 499 918 3134 Notes to Editors PhosAgro is one of the leading global vertically integrated phosphate-basedfertilizer producers. The Company focuses on the production of phosphate-basedfertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of notless than 39%), as well as ammonia and nitrogen-based fertilizers. The Company is the largest phosphate-based fertilizer producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also one of the leading producers of feed phosphates (MCP) inEurope, and the only producer in Russia. PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore. The Company's mines and phosphate rockproduction facilities are located in the mountainous areas of the KolaPeninsula in the Murmansk region of northwest Russia, whereas its fertilizerand feed phosphate production assets are located near the city of Cherepovetsin the Vologda region and near the city of Balakovo in the Saratov region ofsouthwest part of European Russia. PhosAgro's 2013 IFRS revenue was over USD 3.3 bln and EBITDA was USD 752 mln.The Сompany's net debt/EBITDA ratio was 1.8 at 31 December 2013.

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