PhosAgro Board of Directors Meeting Results

For Immediate Release 20 November 2013 PhosAgro Board of Directors Meeting Results Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leadingvertically integrated phosphate-based fertilizer producers, reports that itsBoard of Directors met today and reviewed the Company's condensed consolidatedIFRS financial results for the nine months ended 30 September 2013. The resultswill be disclosed on 21 November 2013, followed by a conference call the sameday. The Board of Directors has also called an extraordinary general meeting ofshareholders (EGM) for 12 February 2014 in order to re-elect a new Board. Theshareholder register cutoff date for the EGM is 20 November 2013. At today's meeting, the Board approved a corporate anti-corruption policy,appointed PhosAgro Human Resources Director Siroj Loikov to the ManagementBoard and approved several interested party transactions. In addition, theBoard decided to close the Company's representative office in China inconnection with the fact that its new Asian trading arm PhosAgro-Asia will nowbe responsible for the Chinese market. For further information please contact: OJSC PhosAgro Irina Evstigneeva, Head of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press Officer+7 495 232 9689 EM Sam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 916 306 6112 Notes to Editors PhosAgro is a leading global vertically integrated phosphate-based fertilizerproducer. The Group focuses on the production of phosphate-based fertilizers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilizers. The Group 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 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 fertilizer 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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