Phosagro S Regulatory News (PHOR)

PJSC PHOSAGRO - PhosAgro opens new trading office in the Balkans

PR Newswire

London, October 19

PhosAgro opens new trading office in the Balkans

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces the opening of a new trading company called PhosAgro Balkans (PhosAgro Balkans D.o.o.).

PhosAgro Balkans will operate out of Belgrade, Serbia, and will focus on the sale of PhosAgro products in Southeast Europe, namely, Hungary, Romania, Serbia, Bulgaria, Greece, Croatia, Slovakia, Macedonia, Slovenia, Bosnia and Herzegovina, Albania and Cyprus, countries to which PhosAgro mineral fertilizers had previously been sold via intermediaries.

PhosAgro CEO Andrey Guryev said: “PhosAgro’s seventh trading office is being established as part of our export strategy, which aims to move to direct international sales. We have already set up trading offices in Brazil, Switzerland, Germany, Poland, France and Singapore to facilitate the Company’s presence in all of its priority export markets, allowing us to quickly react to demand trends and customer needs. Curently, 80% of our fertilizers are sold directly to customers, without using intermediaries, and with the help of our new trading office we plan to double sales to Southeastern Europe by 2020, to over 250 kilotonnes.”

PhosAgro Deputy CEO for Sales and Marketing Sergey Pronin said: “PhosAgro Balkans will focus on meeting this region’s demand for fertilizers that are free from potentially harmful contaminants. By the end of this year we plan to increase total fertilizer shipments by 35 kilotonnes. In addition to traditional DAP/MAP, we will be shipping complex NPK and NPS fertilizers, which are widely used here, and eventually granulated urea, which will soon be produced at PhosAgro Cherepovets.”

Konstantin Filimonov has been appointed to head the PhosAgro Balkans business. Mr Filimonov has held top positions in the sphere of agrochemical sales since 1997.

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 2016 IFRS revenue was over USD 2.8 bln and EBITDA was USD 1.08 bln.

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