PhosAgro CEO Maxim Volkov Submits Resignation to Board

For Immediate Release 19 July 2013 PhosAgro CEO Maxim Volkov Submits Resignation to Board of Directors Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), aleading global vertically integrated phosphate-based fertilizer producer,announces that Maxim Volkov has submitted to the Company's Board of Directorshis resignation from the position of CEO. Maxim Volkov has worked at PhosAgro since 2001. From 2006 to 2012 he headedmanagement company CJSC PhosAgro AG, and from 2009 to present he also served asCEO of OJSC PhosAgro. He is a member of the PhosAgro Board of Directors, wherehe chairs the Strategy Committee. The Board of Directors plans to consider Maxim Volkov's resignation and theappointment of a new CEO by the end of July. The exact date will be announcedin due course. PhosAgro CEO Maxim Volkov said: "Our employees have always shown determinationand have always achieved the goals set before them; I am confident in theCompany's long term potential and have no doubt that our team will continue toachieve sustainable growth for PhosAgro, which is why I intend to remain ashareholder of the Company. However, I currently intend to focus my efforts onthe modernization of the Pikalevo production complex and the acquisition ofPikalevskaya Soda shares." For further information please contact: OJSC PhosAgro +7 495 232-96-89Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press Officer M:Communications Sam [email protected]+7 916 306 6112 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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