Phosagro S Regulatory News (PHOR)

For Immediate Release 7 April 2015 PhosAgro Board to Consider Dividend Increase Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leadingvertically integrated phosphate-based fertilizer producers, announces that on28 April 2015 its Board of Directors will hear Company management'srecommendations on reducing PhosAgro's debt load and on changes to the dividendpolicy that would increase the amount of profit distributed as dividends. After considering changes to the dividend policy and reviewing PhosAgro's FY2014 IFRS financial statements, the Board of Directors at the 28 April 2015meeting will issue its recommendation to the Annual General Meeting ofShareholders ("AGM") on payment of a final 2014 dividend, and will approve theAGM agenda. The date of the PhosAgro AGM was set at today's Board of Directors meeting as 8June 2015. The record date for the AGM will be 20 April 2015. PhosAgro Board ofDirectors Member and Risk Management Committee Chairman Ivan Rodionov wasappointed to chair 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 OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689 EM Sam VanDerlipvanderlip@em-comms.com+44 7554 993 032+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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