PhosAgro Board of Directors Recommends Dividends

OJSC PHOSAGRO - PhosAgro Board of Directors Recommends Dividends

PR Newswire

London, August 16

PhosAgro Board of Directors Recommends Dividends

The Board of Directors of PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, at its meeting today recommended that the Extraordinary General Meeting of Shareholders (“EGM”) approve a dividend payment of RUB 4,273.5 million, or RUB 33 per share (RUB 11 per Global Depositary Receipt), from the Company’s unallocated net profit as of 31 December 2016.

The Board’s recommendation was made after reviewing PhosAgro’s financial and operating performance for the first six months of 2016, including the Company’s consolidated IFRS financial statements, which are due to be disclosed tomorrow, 17 August 2016.

PhosAgro CEO Andrey Guryev said: “Our our carefully considered long-term development strategy has enabled PhosAgro once again to deliver strong operating and financial results that set us apart from many of our peers in a positive way.

“The strong financial results and fast pace of production growth have enabled us to ask shareholders to approve a dividend payment, while we continue to implement our large-scale investment projects and sustainability programmes.”

The EGM, which will take place by absentee ballot, has been scheduled for 3 October 2016, and the record date for shareholders eligible to participate in the EGM is 8 September 2016. The Board has recommended that the record date for shareholders eligible to receive dividends be set as 14 October 2016. The EGM will consider new bylaws on General Meetings of Shareholders and on the Board of Directors, as well as approval of several related party transactions.

The Board of Directors reviewed a report on the monitoring of the management of key risks in Q2 2016, and decided to continue hearing such reports on a quarterly basis.

In addition, the Board took note of reports by the Committee Chairs on the results of their work during Q2 2016, approved bylaws governing internal audit and the corporate secretary, and approved several related party transactions.

For further information please contact: OJSC PhosAgroIrina Evstigneeva, Director of Corporate Finance and Investor Relations[email protected]+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlip[email protected]+44 7554 993 032+7 499 918 3134Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%).

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia. It is Russia’s only producer of nepheline concentrate.

PhosAgro’s main products include phosphate rock, 33 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.