PhosAgro EGM to Vote on Dividends and Articles

OJSC PHOSAGRO - PhosAgro EGM to Vote on Dividends and Articles

PR Newswire

London, June 27

PhosAgro EGM to Vote on Dividends and New Articles of Association

Moscow – PhosAgro (“the Company”, Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that an Extraordinary General Meeting of Shareholders (“EGM”) on 29 July 2016 will vote on the distribution of dividends and a new edition of the Company’s Articles of Association. The agenda for the EGM was approved by PhosAgro’s Board of Directors at its meeting today.

The EGM will be held by absentee ballot, with a record date for shareholders eligible to participate of 24 June 2016. The Board has recommended a record date for shareholders eligible to receive dividends of 10 August 2016.

At its meeting on 24 May 2016, the Board of Directors recommended that shareholders approve dividends of RUB 8,158.5 million, or RUB 63 per share (RUB 21 per Global Depositary Receipt), from the Company’s unallocated net profit as of 31 March 2016.

The new edition of PhosAgro’s Articles of Association bring the document in line with current legislation and contains changes aimed at ensuring the Company is compliant with the recommendations contained in the Central Bank of Russia’s Codex of Corporate Governance.

This includes a change in the Company’s name and legal form, in line with Russian legislation. Open Joint Stock Company PhosAgro is due to become Public Joint Stock Company PhosAgro. July 2016 will mark five years since the Company held its IPO. PhosAgro’s shares trade on the Moscow Exchange, while Global Depositary Receipts for shares trade on the London Stock Exchange and are included in the MSCI Russia index.

The Board of Directors also approved Andrey Guryev holding the position of PhosAgro CEO while also serving as President of the Russian Association of Fertilizer Producers.

In addition, several related party transactions were approved at today’s Board meeting.

For further information please contact: OJSC PhosAgroIrina Evstigneeva, Director of Corporate Finance and Investor Relationsir@phosagro.ru+7 495 231 3115 Timur Belov, Press OfficerAnastacia Basos, Deputy Press Secretary+7 495 232 9689EMSam VanDerlipvanderlip@em-comms.com+44 7554 993 032+7 499 918 3134Notes 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 2015 IFRS revenue was over USD 3.1 bln and EBITDA was USD 1.4 bln.

For further information on PhosAgro please visit: http://www.phosagro.com/