REG-PhosAgro PJSC PhosAgro Board of Directors Applauds Company’s Progress on Key Investment Projects under Development Strategy to 2025

PhosAgro PAOAnnouncement

18/08/2022 18:15

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   PhosAgro PJSC (PHOR)
   PhosAgro Board of Directors Applauds Company’s Progress on Key Investment
   Projects under Development Strategy to 2025

   18-Aug-2022 / 20:05 MSK
   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   For Immediate Release 18 August 2022

   PhosAgro Board of Directors Applauds Company’s Progress on Key Investment
   Projects under Development Strategy to 2025

   Moscow — At its meeting today, the Board of Directors of PhosAgro, one of
   the world’s leading vertically integrated phosphate-based fertilizer
   producers, applauded the Company’s progress in implementing key investment
   projects within the framework of its Development Strategy to 2025.

   The Board heard a report from CEO Mikhail Rybnikov on the results of the
   Company’s operations in 1H 2022 and reviewed reports from PhosAgro’s CEO
   and Management Board for 1H 2022.

   “Through our investment programme (about RUB 64 billion will be allocated
   for these purposes in 2022, one third more than last year), we are
   building new capacities and increasing production volumes: we are
   forecasting growth of 3%–4% to 10.8 million tonnes this year. Our
   unchanging strategic priority remains the domestic market, where we plan
   to sell up to 50% of our product in the near future. In addition, we have
   been paying more in taxes, with payments for just the first half of 2022
   comparable to what we paid for the entire previous year (RUB 39 billion),”
   said PhosAgro’s CEO Mikhail Rybnikov in his report.

   The Board of Directors took under advisement information provided by the
   chairs of the Board committees on the work of their respective committees
   and approved their preliminary work plans for the period until 30 June
   2023. In addition, the Board decided to recommend that the Company’s
   Management Board approve a new version of the budget for 2022.

   Information on the Company’s financial results in 1H 2022, including
   interim consolidated IFRS financial statements, was discussed. The Board
   of Directors recommended that an Extraordinary Meeting of Shareholders
   adopt a decision to pay dividends at a rate of RUB 780 per ordinary share.
   The total amount of dividend payments will include final dividends for
   2021 and dividends for 1H 2022. An Extraordinary Meeting of Shareholders
   will be held by absentee voting on 21 September 2022. The Board of
   Directors recommended 3 October 2022 as the dividend record date.

   Information was taken under advisement concerning the results of the
   monitoring of the Company’s key risk management in 1H 2022, as was
   information on the efforts undertaken by PJSC PhosAgro enterprises to
   comply with regulations on occupational health and industrial safety in
   the operation of production facilities, and to observe environmental
   regulations, as well as steps taken to ensure environmental safety
   including with respect to energy efficiency in 2021 and 1H 2022.

   The Board of Directors approved revised versions of the Regulation on the
   Company’s Board of Directors’ Strategy and Sustainable Development
   Committee and the Regulation on the Operation of the PhosAgro Hotline; the
   Board also determined the amount of remuneration for the Company’s RAS
   auditor. The Board proposed that an Extraordinary Meeting of Shareholders
   approve a new version of the Regulation on the Company’s Board of
   Directors.

   The Board of Directors recognised that its independent members met the
   independence criteria set out in the Regulation on the Board of Directors
   of PJSC PhosAgro, the Corporate Governance Code recommended by the Bank of
   Russia for use by joint-stock companies, the Moscow Exchange Listing Rules
   and the UK Corporate Governance Code.

   At the end of the meeting, Andrey Sharonov, Chairman of PhosAgro’s Board
   of Directors, thanked PhosAgro Group’s personnel for their efforts and
   their dedication.

   About Us

   PhosAgro ( 1 www.phosagro.ru) is one of the world’s leading vertically
   integrated phosphate-based fertilizer producers in terms of production
   volumes of phosphate-based fertilizers and high-grade phosphate rock with
   a P 2 O 5  content of 39% and higher. PhosAgro’s environmentally friendly
   fertilizers stand out for their high efficiency, and they do not lead to
   the contamination of soils with heavy metals.

   The Company is the largest phosphate-based fertilizer producer in Europe
   (by total combined capacity for DAP/MAP/NP/NPK/NPS), the largest producer
   of high-grade phosphate rock with a P 2 O 5  content of 39%, a top-three
   producer of MAP/DAP globally, one of the leading producers of feed
   phosphates (MCP) in Europe, and the only producer in Russia, and Russia’s
   only producer of nepheline concentrates (according to the RFPA).

   PhosAgro’s main products include phosphate rock, more than 50 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 are listed on the London Stock Exchange (under
   the ticker PHOR).

   More information about PhosAgro can be found on the website:
    2 www.phosagro.ru.

    

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   ISIN:           US71922G2093
   Category Code:  ROM
   TIDM:           PHOR
   LEI Code:       25340053KRUNNYUWF472
   OAM Categories: 2.2. Inside information
   Sequence No.:   182307
   EQS News ID:    1423629


    
   End of Announcement EQS News Service

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