PhosAgro Board Recommends 9M 2014 Interim Dividend

For Immediate Release 18 November 2014 PhosAgro Board Recommends 9M 2014 Interim Dividend Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR),one of the world's leading vertically integrated phosphate-based fertilizerproducers, announces that its Board of Directors at a meeting today reviewedthe Company's interim consolidated IFRS financial statements for the first ninemonths of 2014, and recommended an interim dividend for the period of RUB 2.59billion, which represents RUB 20 per share (RUB 6.67 per global depositaryreceipt). The Board has called an EGM to vote in absentia on the dividend recommendationon 31 December 2014. The recommended dividend record date is 11 January 2015. PhosAgro CEO Andrey Guryev said: "PhosAgro's sustainable stable cash flowsenabled us to recommend another interim dividend, in keeping with the promiseswe have made to investors." Including the 6M 2014 interim dividends already paid, the Company's totalinterim dividend payouts for 2014 could amount to RUB 5.83 billion. The Board of Directors approved changes to the Management Board, which now hasthe following makeup: * CEO and Chairman of the Management Board - Andrey Guryev * Director of Human Resources - Sirojiddin Loikov * Deputy CEO for Corporate and Legal Affairs - Alexey Sirotenko * Chief Operating Officer - Mikhail Rybnikov * Chief Financial Officer - Alexander Sharabaiko The Board approved a number of corporate documents, including a salesmanagement strategy and a risk management policy. In addition, the Board of Directors approved the Risk Management Committee'sgoverning provisions and several related party transactions. 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 993 032+7 916 306 6112 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.

For further information on PhosAgro please visit: www.PhosAgro.com