US Removes Anti-Dumping Duty on PhosAgro Urea

OJSC PHOSAGRO - US Removes Anti-Dumping Duty on PhosAgro Urea

PR Newswire

London, November 21

US Removes Anti-Dumping Duty on PhosAgro Urea

PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces that the United States of America has removed its anti-dumping import duty on the Company’s urea fertilizer.

PhosAgro CEO Andrey Guryev said: “The US Department of Commerce made this decision following a major effort to prove that PhosAgro sells its high-quality fertilizers in full compliance with anti-dumping regulations.”

In 2017 PhosAgro plans to launch a new, high-tech granulated urea line with a capacity of 500 kt per year. Production output from this line that is not consumed by PhosAgro’s domestic Russian market will be sold to export markets, including possibly the US.

Last year, the United States was one of the world’s largest urea importers, buying over 8 million tonnes. Only India imported more during the same period, at 9.4 million tonnes. Granulated urea is among the most popular and suitable nitrogen fertilizers in the United States.

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%).

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. It is Russia’s only producer of nepheline concentrate.

PhosAgro’s main products include phosphate rock, 33 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 100 countries spanning all of the world’s inhabited continents. The Company’s priority markets outside of Russia and the CIS are Latin America, Europe and Asia.

PhosAgro’s shares are traded on the Moscow Exchange, and global depositary receipts (“GDRs”) for shares trade on the London Stock Exchange (under the ticker PHOR). Since 1 June 2016, the Company’s GDRs have been included in the MSCI Russia and MSCI Emerging Markets indexes.