PhosAgro Announces AGM Results

For Immediate Release 10 June 2013 PhosAgro Announces AGM Results Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), aleading global vertically integrated phosphate-based fertiliser producer,announces that today the annual general meeting of shareholders ("AGM")approved a final 2012 dividend of RUB 19.90 per share with a nominal value ofRUB 2.50 (RUB 6.63 per GDR). The total sum of the dividend is over RUB 2,577million. The final 2012 dividend payment comes in addition to PhosAgro's interimdividend payments for 1H 2012 and 9M 2012. Including the dividend approved bythe AGM today, the Company's total dividend payments since its IPO in July 2011will amount to more than RUB 17.5 billion, or RUB 140.4 per share (RUB 46.80per GDR). PhosAgro Board of Directors Member and CEO Maxim Volkov said: "Since our IPO,we have consistently exceeded our target dividend level of 20%-40% of IFRSprofit attributable to shareholders, paying out more than 49% of profitavailable for distribution. With a strong financial position and solidoperating cash flows, we plan to maintain our dividend policy while continuingto implement our investment programme and other strategic initiatives aimed atincreasing shareholder value." At today's AGM shareholders also approved PhosAgro's annual report andfinancial accounts, elected the Board of Directors and Review Committee, andapproved the total sum and principles for the remuneration of the Board ofDirectors. Shareholders approved Tax Planning Centre "Korpus Prava" as the Company's RASauditor. KPMG will audit PhosAgro's consolidated IFRS financial statements for2013. For further information please contact: OJSC PhosAgro+7 495 232-96-89Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press Officer M:CommunicationsSam [email protected]+44 (0) 7554 993 032 Notes to Editors PhosAgro is a leading global vertically integrated phosphate-based fertiliserproducer. The Group focuses on the production of phosphate-based fertilisers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilisers. The Group is the largest phosphate-based fertiliser 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 a leading producer of MCP feed phosphates in Europe, and theonly producer in Russia. PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore, representing over 75 years of production. TheGroup also controls substantial Al2O3 resources and has 41% of Russia's rareearth oxides resources according to the G.P. Luzin Institute of EconomicProblems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,2010). The Group's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertiliser and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia. PhosAgro's2012 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.1 bln. The Сompany's net debt/EBITDA ratio was 0.77 at 31 December 2012.

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