REG-PhosAgro PJSC PhosAgro PJSC: PhosAgro Group to Index Wages of All Employees by Another 15%

PhosAgro PAOAnnouncement

24/03/2023 05:00

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   PhosAgro PJSC (PHOR)
   PhosAgro PJSC: PhosAgro Group to Index Wages of All Employees by Another
   15%

   24-March-2023 / 08:00 MSK
   The issuer is solely responsible for the content of this announcement.

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         PhosAgro Group to Index Wages of All Employees by Another 15%
                                        

   Moscow – PhosAgro Group plans  to index the salaries  of the staff of  all
   its production sites by 15%, starting in April.

   This decision, made  by PhosAgro’s  Management Board  at a  meeting on  24
   March, was  driven  by  the  Company’s  excellent  operating  performance,
   increased labour productivity and agrochemical production, as well as  the
   improved efficiency of business processes.

   Besides wages, the Company’s production sites have a flexible bonus system
   in place that is tied to the fulfilment and over-fulfilment of  production
   targets. In addition,  annual bonuses  are paid out  to mark  professional
   holidays – Chemist’s Day and Miner’s Day.

   All PhosAgro production  sites have  collective agreements  with a  common
   list of benefits and incentives  for personnel. All employees have  access
   to healthcare through private medical insurance. In addition, wellness and
   summer holiday  programmes are  in place,  including for  the children  of
   employees, and the corporate housing programme is very popular.

   Mikhail Rybnikov, PhosAgro CEO and Chairman of the Management Board, said:
   “More than  22 thousand  people work  at PhosAgro  Group enterprises.  And
   every one  of  them  makes  an  important  contribution  to  our  steadily
   improving production results  and to national  food security. We  consider
   our employees to be the Company’s main asset, which is why we have created
   safe,  comfortable  working  conditions,  and  why  we  guarantee  decent,
   competitive wages.”

   The average salary of PhosAgro employees  increased by 11% in 2021 and  by
   another 22% in 2022.

   About the Company

   PhosAgro (www.phosagro.ru) is a vertically integrated Russian company  and
   one of the  world’s leading producers  of mineral phosphorous  fertilizers
   and of  high-grade  apatite  concentrate  grading  39%  P2O5  and  higher.
   PhosAgro’s fertilizers are highly effective, ensuring the improved quality
   of agricultural produce.

   PhosAgro Group is the largest manufacturer of phosphate-based  fertilisers
   in Europe  (by  total  capacity  of  DAP/MAP/NP/NPK/NPS  production),  the
   largest producer of phosphite grading 39% P2O5 in the world and one of the
   leading global  producers of  ammonium and  diammonium phosphate,  one  of
   Europe’s leading and the only producer in Russia of monocalcium  phosphate
   feed (MCP), and the only producer in Russia of nepheline concentrate.

   The company’s main products, including phosphite, 57 grades of fertilizer,
   phosphate feed, ammonium, and sodium tripolyphosphate, are used in  around
   100 countries on all inhabited  continents. Our priority markets,  besides
   Russia and the CIS, are Latin America, Europe, and Asia.

   The company's shares  are listed  on the  Moscow Exchange  and its  Global
   Depositary Receipts (GDRs) are listed  on the London Stock Exchange  (MOEX
   and LSE ticker: PHOR).   

   More  information  about  PhosAgro  PJSC   can  be  found  on  our   site:
    1 www.phosagro.ru  

    

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EquityStory RS.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          US71922G2093
   Category Code: MSCH
   TIDM:          PHOR
   LEI Code:      25340053KRUNNYUWF472
   Sequence No.:  232219
   News ID:       1591129


    
   End of Announcement EquityStory RS News Service

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