PhosAgro Completes Consolidation of 100% of Apatit

For Immediate Release 27 August 2013 PhosAgro Completes Consolidation of 100% of Apatit Moscow - PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE: PHOR), aleading global vertically integrated phosphate-based fertilizer producer,announces that it has consolidated 100% of OJSC Apatit shares. PhosAgro has now completed all procedures related to the squeeze-out, which waslaunched on 17 April 2013, at a total cost of RUB 1.99 billion. In addition to the squeeze-out, PhosAgro purchased 76% of Nordic Rus Holding,which owns 7.4% of Apatit (617,430 ordinary shares), for USD 141.92 million,which is equivalent to the price offered under the squeeze-out plus the valueof other assets held by Nordic Rus Holding (over USD 50 million). PhosAgro hadearlier purchased 24% of Nordic Rus Holding in 2012. PhosAgro CEO Andrey A. Guryev said: "The consolidation of our core mining assetis an important step towards achieving PhosAgro's strategy of organic growth.It should make our Company more attractive to investors and support shareholdervalue, as well as increase profits and dividend payments attributable to theshareholders of PhosAgro." For further information please contact: OJSC PhosAgroIrina Evstigneeva, Head of Corporate Finance and Investor [email protected]+7 495 231 3115 Timur Belov, Press Officer+7 495 232 9689 EMSam [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 Companyis the largest phosphate-based fertilizer producer in Europe, the largestproducer of high-grade phosphate rock worldwide and the second largest MAP/DAPproducer in the world (excluding China), according to Fertecon. PhosAgro has 2.1 billion tonnes of resources (according to JORC as of 1 June2011) of high quality apatite-nepheline ore, representing over 75 years ofproduction (at current production levels). The Company also controlssubstantial Al2O3 resources, and has more than 41% of Russia's rare earthoxides resources. The Company'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. For further information on PhosAgro please visit: www.PhosAgro.com

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