Phosagro S Regulatory News (PHOR)

PJSC PHOSAGRO - PhosAgro Board Elects Sven Ombudstvedt as Chairman

PR Newswire

London, May 31

PhosAgro Board Elects Sven Ombudstvedt as Chairman

Moscow - PhosAgro ("PhosAgro" or "the Company") (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. The Board of Directors also re-elected as its Deputy Chairman Andrey G. Guryev, Vice President of the Russian Union of Chemists.

At today’s meeting the Board of Directors also appointed the leadership and members of the Board Committees. The Audit Committee will be chaired once again by Independent Director and PhosAgro Board of Directors Member Marcus Rhodes; PhosAgro CEO and Board of Directors Member Andrey A. Guryev was re-appointed Chairman of the Strategy Committee; Independent Director and PhosAgro Board of Directors Member James Rogers will lead the Remuneration and Human Resources Committee; the Environmental, Health and Safety Committee will be chaired by PhosAgro Board of Directors Member, PhosAgro Executive Director and CEO of Apatit Mikhail Rybnikov; the Risk Management Committee will be chaired by Independent Director, PhosAgro Board of Directors Member Xavier Rolet.

At the meeting the Board of Directors also approved a preliminary workplan effective through 30 June 2019.

These decisions were made at the first meeting of the Board of Directors that was elected by an annual general meeting of shareholders on 30 May 2018. The number of members of the Board of Directors remains 10 people, with the new composition comprising an absolute majority of independent directors:

* non-executive director

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* PhosAgro (www.phosagro.ru) is one of the world’s leading vertically integrated phosphate-based fertilizer producers in terms of production volumes of phosphate-based fertilizers and high-grade phosphate rock with a P2O5 content of not less than 39% (according to IFA, Fertecon and CRU).

The Company is the largest phosphate-based fertilizer producer in Europe, the largest producer of high-grade phosphate rock worldwide, and one of the top-three MAP/DAP producers in the world (by production volumes, according to IFA). PhosAgro is also one of the leading producers of feed phosphates (MCP) in Europe, and the only producer in Russia (according to CRU and RAFP). PhosAgro is Russia’s only producer of nepheline concentrate (according to RAFP).

PhosAgro’s main products include phosphate rock, over 35 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.