Phosagro S Regulatory News (PHOR)

For Immediate Release 02 June 2014 PhosAgro Reports that Apatit Plant Operations Continue Uninterrupted Moscow - PhosAgro ("the Company") (Moscow Exchange, LSE: PHOR), one of theworld's leading vertically integrated phosphate-based fertilizer producers,reports that operations at its subsidiary OJSC Apatit are continuinguninterrupted, despite the crash on 31 May 2014 of a Mi-8 helicopter withmanagement of OJSC Apatit on board. Vladimir Davydenko has been appointed as acting director of the Kirov branch ofCJSC PhosAgro AG and acting CEO of OJSC Apatit. Mr. Davydenko has worked inPhosAgro companies for over 10 years and is well acquainted with both OJSCApatit and PhosAgro as a whole. Prior to this appointment, Vladimir Davydenkoserved as first deputy director of the Kirov branch of CJSC PhosAgro AG anddeputy CEO of OJSC Apatit. The purpose of the flight had been to review progress being made on a jointproject with the regional government to develop the Murmansk region tourismcluster, including eco-tourism sites. According to the latest information available to PhosAgro, it is believed thatthere were 18 people on board the Mi-8 AMT RA helicopter (operated bySparkavia) when it crashed, including employees of OJSC Apatit and itssubsidiaries, as well as employees of the regional government and four crewmembers. The Russian Ministry of Emergency Situations is providing regularupdates on the status of the on-going search and rescue operation. PhosAgro CEO Andrey Guryev said: "This is a horrible tragedy and I express mydeepest condolences for the families of the victims of this accident, many ofwhom I know personally and as colleagues." He added that the Company isgrateful to the employees of OJSC Apatit, who have enabled the plant tocontinue its normal operations. 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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