Phosagro S Regulatory News (PHOR)

For Immediate Release 16 June 2014 PhosAgro Board Re-Appoints Chairman and CEO Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global verticallyintegrated phosphate-based fertilizer producer, announces that its Board ofDirectors has re-elected Independent Director Sven Ombudstvedt as its Chairman.Andrey G. Guryev, Vice President of the Russian Union of Chemists, was electedDeputy Chairman of the Board. The Board of Directors also re-appointed Andrey A. Guryev as PhosAgro's CEO, inaccordance with the recommendation of the Remuneration and Human ResourcesCommittee. PhosAgro's Board of Directors appointed members and leadership to the BoardCommittees. The Audit Committee will be chaired once again by IndependentDirector Marcus Rhodes; Andrey A. Guryev was appointed Chairman of the StrategyCommittee; Independent Director Ivan Rodionov will lead the Remuneration andHuman Resources Committee, while the Environmental, Health and Safety Committeewill be chaired by Igor Antoshin. The Board has also called an Extraordinary General Meeting of shareholders("EGM") for 16 September 2014, and set the shareholder register cut-off datefor the EGM as 27 June 2014. The EGM agenda will include items related to theelection of a new Board of Directors and approval of a new version of theCompany charter. It is planned to increase the number of independent directorson the Company's Board of Directors. The new version of the charter willinclude all previous amendments, and contains changes related to ensuringadherence with recent legislative changes. These decisions were made at today's meeting of the Board of Directors at itsfirst meeting after the PhosAgro Annual General Meeting of shareholders("AGM"), which was held on 13 June 2014. The makeup of the Board of Directorsdid not change as a result of the AGM. For further information please contact: OJSC PhosAgro Irina Evstigneeva, Head of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press Officer+7 495 232 9689 EM Sam VanDerlipvanderlip@em-comms.com+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 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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