PhosAgro to up Brazil Exports After DAP Duties Cancel

For Immediate Release 1 October 2014 PhosAgro Plans to Increase Exports to Brazil Following Suspension of DAP ImportDuties Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leadingvertically integrated phosphate-based fertilizer producers, announces it isconsidering increasing exports to Brazil following a decision by the BrazilianForeign Trade Council (CAMEX) to suspend the 6% import duty on high-qualitydiammonium phosphate (DAP). PhosAgro CEO Andrey Guryev said: "The CAMEX decision comes following activeinvolvement by numerous parts of the Russian Federation government to promotethe interests of Russian businesses in a number of countries. In addition tomaking Russian-produced goods more competitive, Brazilian farmers also stand tobenefit from this decision as they will have the ability to buy safe andenvironmentally sound fertilizers." The Latin American fertilizer market, like the Russia and CIS markets, is oneof the most important for PhosAgro. The Company exports more than 1.5 milliontonnes of fertilizers to the region, which represents approximately 25% ofPhosAgro's total annual exports. PhosAgro's sales to Brazil, which is thelargest global producer of agricultural goods, amount to about 800 thousandtonnes of fertilizer annually, including new fertilizer grades that have beendeveloped specifically for Brazilian customers. These include MAP, DAP, urea,stabilised ammonium nitrate as well as various grades of NPS and NPKfertilizers. 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 032t: +7 499 918 3134 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.

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