PhosAgro Fertilizer Sales up 11% y-o-y for FY 2013

For Immediate Release 10 February 2014 PhosAgro Fertilizer Sales up 11% y-o-y for FY 2013 Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global verticallyintegrated phosphate-based fertilizer producer, announces its productionresults for the twelve months ended 31 December 2013. Total fertilizer production and sales for FY 2013 grew 9.0% and 11.2%year-on-year, respectively. Phosphate-based fertilizer production and sales forFY 2013 increased by 6.5% and 10.1% year-on-year, respectively. PhosAgro's production and sales volumes for FY 2013 are summarized in thetables below. Production Volumes by type (kmt) FY 2013 FY 2012 Change y-o-y Phosphate-based fertilizers 4,620.2 4,340.0 6.5%Nitrogen-based fertilizers 1,309.6 1,098.0 19.3%TOTAL fertilizers 5,929.8 5,438.0 9.0%Apatit mine and beneficiation 8,703.6 8,960.3 (2.9%)plantOther products** 150.3 24.1 523.7% Sales Volumes by type (kmt) FY2013 FY2012 Change y-o-y Phosphate-based fertilizers 4,672.10 4,242.90 10.1%Nitrogen-based fertilizers 1,262.20 1,094.90 15.3%TOTAL fertilizers 5,934.30 5,337.80 11.2%Apatit mine and beneficiation 3,912.00 4,583.10 (14.6%)plantOther products** 313.00 257.30 21.6% Commenting on the FY 2013 production results, PhosAgro CEO Andrey A. Guryevsaid: "We have maintained near 100% capacity utilisation throughout 2013,despite challenging market conditions, thanks to our flexible production andsales, which allowed us to change product mix and sell to the markets wheredemand remained strong and we could achieve the best netback. We wereparticularly successful in increasing sales to our domestic Russian and CISmarkets, as well as to Brazil, Malaysia and Vietnam. "Our position as a low cost producer means that we were able to maintain higherlevels of production and sales throughout 2013, despite other players beingforced to curtail production in the second half of the year. "Looking forward to 2014, we believe that the effects of Uralkali's decision tostop export sales through BPC on the whole market have subsided, and we areseeing prices for key phosphate-based fertilizers normalise as demand, backedby solid farmer economics, returns ahead of planting seasons in key markets." The table below provides a breakdown of production volumes by major product forFY 2013: Production Volumes (kmt) FY2013 FY2012 Change y-o-y Apatit mine and beneficiation plant Phosphate rock 7,713.0 7,903.6 (2.4%)Nepheline concentrate 990.6 1,056.7 (6.3%) Phosphate-based fertilizers DAP/MAP 2,134.1 2,047.3 4.2%NPK 1,628.4 1,644.2 (1.0%)NPS 459.1 346.4 32.5%APP 98.6 60.5 63.0%MCP 247.2 241.6 2.3%SOP 52.8 0.0 - Nitrogen-based fertilizers AN 297.4 314.6 (5.5%)NP 109.1 80.3 35.9%Urea 903.1 703.1 28.4% Other products AlF3 27.1 24.1 12.4%STPP 123.2 0.0 - Feed stock Ammonia 1,048.1 1,095.6 (4.3%)Phosphoric acid (kt P2O5) 1,764.6 1,608.1 9.7%Sulphuric acid (kt 4,338.4 4,437.3 (2.2%)monohydrate) The table below provides a breakdown of sales volumes by major product for FY2013: Sales Volumes (kmt) FY2013 FY 2012 Change y-o-y Apatite mine and beneficiation plant Phosphate rock* 2,920.50 3,541.80 (17.5%)Nepheline concentrate 991.50 1,041.30 (4.8%) Phosphate-based fertilizers DAP/MAP 2,139.00 2,027.10 5.5%NPK 1,666.90 1,619.00 3.0%NPS 486.60 299.10 62.7%APP 79.60 52.00 53.1%MCP 245.20 245.70 (0.2%)SOP 54.80 0.00 - Nitrogen-based fertilizers AN 279.70 297.90 (6.1%)NP 110.00 79.40 38.5%Urea 872.50 717.60 21.6% Other products AlF3 27.10 24.10 12.4%STPP 121.70 0.00 -Ammonia 6.30 72.80 (91.3%)Phosphoric acid 30.50 12.60 142.1%=Sulphuric acid 127.40 147.80 (13.8%) * Excluding intra-group sales** Excluding feed stock On 10 February 2014, PhosAgro will hold a conference call and webcast at 13:00London time (17:00 Moscow; 08:00 New York) to discuss its FY 2013 operatingresults. Following a presentation of the results and an update on current fertilizermarket conditions, PhosAgro CEO Andrey Guryev will answer questions fromconference call participants. The call will be held in English, with simultaneous translation into Russian ona separate line. Participants will be required to tell the operator whichlanguage to connect to when dialling in. Webcast links: English: http://www.media-server.com/m/p/i4nsnwww/lan/enRussian: http://www.media-server.com/m/p/i4nsnwww/lan/ru Conference call dial-ins: +7 499 272 4337 Moscow+1 212 999 6659 New York+44 (0) 20 3003 2666 London Toll Free: 0808 109 0700 UK1 866 966 5335 USA8 10 8002 490 2044 Russia (Moscow only) Conference call password: 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 032t: +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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