Phosagro S Regulatory News (PHOR)

For Immediate Release 15 April 2014 PhosAgro Board of Directors Recommends Final 2013 Dividend Moscow - PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), one of theworld's leading vertically integrated phosphate-based fertilizer producers,announces that its Board of Directors has recommended a final 2013 dividend ofRUB 19.3 per share (RUB 6.4 per depositary receipt), or RUB 2,499,350,000 intotal. If approved by the Annual General Meeting of Shareholders (the "AGM"),the final 2013 dividend would come in addition to the RUB 2,000,775,000, or RUB15.45 per share (RUB 5.15 per depositary receipt) already paid during 2013. PhosAgro Board Member and CEO Andrey Guryev said: "With today's recommendeddividend we are once again demonstrating our commitment to PhosAgro's dividendpolicy and to upholding the promises made to shareholders during the IPO andSPO. The Company's sustainable financial position, combined with strategicinitiatives we are implementing to build shareholder value and maintainPhosAgro's leading positions in the global fertilizer market, have ensuredstable cash flows for dividend payments." The AGM date has been set for 13 June 2014, and the shareholder register cutoffdate for AGM participation is 26 April 2014. The Board has recommended 24 June2014 as the ex-dividend date. The AGM agenda will include approval of the annual report and statutoryfinancial statements for 2013, distribution of profit, including payment ofdividends, election of the Board of Directors and the Review Committee,approval of the Company's auditor, and approval of related party transactions.Independent Director Ivan Rodionov has been appointed to chair the AGM. The Board of Directors today reviewed PhosAgro's consolidated IFRS financialstatements, the statutory financial statements for 2013, and approved severalinternal corporate documents, including a code of ethics and a charity policy. 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 a leading global vertically integrated phosphate-based fertilizerproducer. The Group focuses on the production of phosphate-based fertilizers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilizers. The Group 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 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 fertilizer 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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