Sven Ombudstvedt Reappointed as Chairman of PhosAgro

OJSC PHOSAGRO - Sven Ombudstvedt Reappointed as Chairman of PhosAgro

PR Newswire

London, May 31

Independent Director Sven Ombudstvedt Reappointed as Chairman of PhosAgro

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that its Board of Directors has re-elected Independent Director Sven Ombudstvedt as its Chairman. Andrey G. Guryev, Vice President of the Russian Union of Chemists, was elected Deputy Chairman of the Board.

The Board of Directors also praised the work of CEO Andrey A. Guryev and confirmed his re-appointment in the post, in accordance with the recommendation of the Remuneration and Human Resources Committee.

The Board of Directors appointed the chairmen and members of the Board Committees. The Audit Committee will be chaired once again by Independent Director Marcus Rhodes; Andrey A. Guryev was appointed Chairman of the Strategy Committee; Independent Director James Rogers will lead the Remuneration and Human Resources Committee, while the Environmental, Health and Safety Committee will be chaired by Igor Antoshin.

These decisions were made at the first meeting of the Board of Directors elected at the Annual General Meeting of shareholders (“AGM”) on 31 May 2016. The new Board, more than half of whose members are independent directors, comprises:

Notes to Editors

PhosAgro is one of the leading global vertically integrated phosphate-based fertilizer producers. The Company focuses on the production of phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39%), as well as ammonia and nitrogen-based fertilizers.

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide and the third largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.

PhosAgro’s 2015 IFRS revenue was over USD 3.1 bln and EBITDA was USD 1.4 bln.

For further information on PhosAgro please visit: www.PhosAgro.com