REG-PJSC PhosAgro: PhosAgro EGM Elects Board and Approves Dividends <Origin Href="QuoteRef">PHOR.MM</Origin>

PhosAgro PAOAnnouncement

02/10/2017 15:45

For Immediate Release   2 October 2017 

PhosAgro EGM Elects Board and Approves Dividends

Moscow – PhosAgro (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”) held today has
approved the payment of a dividend of RUB 3.1 billion, or RUB 24 per ordinary
share (RUB 8 per global depositary receipt) from the Company’s undistributed
net income as of 31 December 2016. The dividend record date has been set as 13
October 2017.

The EGM aslo elected a new Board of Directors, following an EGM decision
earlier this year to increase the number of Board of Directors seats from 8 to
10 people:

 ?    New Board of Directors  Previous Board of Directors  
 1.   Andrey A. Guryev        Andrey A. Guryev             
 2.   Andrey G. Guryev        Andrey G. Guryev             
 3.   Sven Ombudstvedt*       Sven Ombudstvedt*            
 4.   James Rogers*           James Rogers*                
 5.   Ivan Rodionov*          Ivan Rodionov*               
 6.   Marcus Rhodes*          Marcus Rhodes*               
 7.   Mikhail Rybnikov        Mikhail Rybnikov             
 8.   Alexander Sharabaiko    Igor Antoshin                
 9.   Natalia Pashkevich*                                  
 10.  Andrey Sharonov*                                     

* non-executive director

PhosAgro Board of Directors Member, Management Board Chairman and CEO Andrey
A. Guryev said: “I am happy to welcome the new members to the Board of
Directors, and have no doubt that they will strengthen our team. We believe
that increasing the number of seats at the Board of Directors from eight to
ten is important to support the further development of PhosAgro, given the
Company's continued growth, as well as the expanded shareholder base following
the SPO earlier this year. I believe that the new Board of Directors will
bring an even more diverse range of expertise, while also remaining 50%
independent.

“Andrey Sharonov, who has held senior posts in government and in private
sector finance, joins the ranks of our Independent Non-Executive Directors,
helping to ensure that all major shareholder groups are properly represented
at the Board level. Andrey is well known and respected by the investment
community, and I am confident that he will contribute not only to refining
PhosAgro’s strategy and business model, but also to further strengthening
our relations with minority shareholders.

“Natalia Pashkevich is a Professor, PhD in Economics and First Vice-Rector
of the St Petersburg Mining University who is well known in international
academic circles. PhosAgro has a long-standing partnership with the St
Petersburgy Mining University. Around 70% of the management personnel at our
mining and processing subsidiary Apatit are graduates of the university, which
produces some of the best-qualified professionals in the field. I have full
confidence that Natalia’s experience, scientific knowledge and international
expertise in the mineral resources sector and environmental protection will be
put to good use as we develop PhosAgro’s strategy to 2025.”

Today’s EGM also approved remuneration and compensation for the members of
the Board of directors, as well as changes to the Charter and the bylaws
governing general meetings of shareholders.

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 (P(2)O(5) 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



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