PhosAgro Subsidiaries Merger Update

OJSC PHOSAGRO - PhosAgro Subsidiaries Merger Update

PR Newswire

London, July 1

PhosAgro Subsidiaries Merger Update

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that it has completed the merger of its wholly-owned subsidiaries Agro-Cherepovets, PhosAgro AG and Nordic Rus Holding into PhosAgro-Cherepovets.

The termination of operations of Agro-Cherepovets, PhosAgro AG and Nordic Rus Holding was recorded in the Unified State Register of Legal Entities today, 1 June 2015. All rights and obligations of these entities have been transferred to PhosAgro-Cherepovets.

The Board of Directors of PhosAgro-Cherepovets named PhosAgro COO Mikhail Rybnikov (previously also CEO of PhosAgro AG) General Director of the plant.

PhosAgro CEO Andrey Guryev said: “I believe that this merger will help to further improve efficiency by removing duplicate functions, while also strengthening the advantages of our vertically-integrated phosphate-based fertilizer business model.”

For further information please contact: OJSC PhosAgroIrina 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 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 2014 IFRS revenue was over USD 3.2 bln and EBITDA was USD 979 mln.

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