PhosAgro BoD Re-elects Sven Ombudstved as Chairman

For Immediate Release 19 February 2014 PhosAgro Board Re-elects Sven Ombudstved as Chairman Moscow - PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), one of theworld's leading vertically integrated phosphate-based fertilizer producers,announces that the Board of Directors at a meeting on 18 February 2014re-elected Sven Ombudstved (an independent non-executive director) as itsChairman. Russian Federation Union of Chemists Vice President Andrey G. Guryevwas appointed as the Deputy Chairman of the Board. These decisions were made atthe Board's meeting following its election by an Extraordinary General Meetingof Shareholders ("EGM") on 12 February 2014. The list of candidates for the Board of Directors to be elected at PhosAgro'snext Annual General Meeting of Shareholders ("AGM") includes all the members ofthe current Board of Directors, as well as: * Evgeniy Ivin - former OJSC Apatit Independent Director, Deputy Chairman of the Department of Econometrics and Mathematic Methods of Economics of the Lomonosov Moscow State University School of Economics * Mikhail Rybnikov - Chief Operating Officer of OJSC PhosAgro * Alexander Semyonov - former OJSC Apatit Independent Director, Editor in Chief of Joint Stock Companies: Corporate Governance Issues magazine * Alexander Sharabaiko - Chief Financial Officer of PhosAgro The Board yesterday also appointed the members and leadership of itscommittees. The Chairman of the Audit Committee will be Independent DirectorMarcus Rhodes, PhosAgro CEO and Board Member Andrey A. Guryev was appointedChairman of the Strategy Committee, Independent Director Ivan Rodionov willchair the Remuneration and Human Resources Committee, Board Member and Advisorto the CEO of PhosAgro Igor Antoshin was appointed as Chairman of the Committeefor Environmental, Health and Safety Committee. In addition, the Board ofDirectors approved 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 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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