REG-PhosAgro PJSC PhosAgro PJSC: PhosAgro’s Board of Directors Approves Next Year’s Budget

PhosAgro PAOAnnouncement

21/12/2022 14:15

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   PhosAgro PJSC (PHOR)
   PhosAgro PJSC: PhosAgro’s Board of Directors Approves Next Year’s Budget

   21-Dec-2022 / 17:05 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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           PhosAgro’s Board of Directors Approves Next Year’s Budget

   Moscow – The Board of Directors of PhosAgro (Moscow Exchange, LSE:  PHOR),
   one  of  the   world’s  leading   vertically  integrated   phosphate-based
   fertilizer producers, has  approved the  Company’s draft  budget for  next
   year.

   The Board also took under advisement the results of the implementation  of
   key investment projects at PhosAgro Group production sites in 2022 and the
   status of areas for the Company’s development to 2030.

   According to PhosAgro CEO Mikhail Rybnikov, “the Company’s adopted  budget
   maintains a commitment  to the long-term  plan for to  further expand  and
   modernise production facilities and deepen their vertical integration.  In
   the outgoing year, we have allocated almost RUB 64 billion for  investment
   in development – a third more than last year. The 2023 budget provides for
   a further increase in the total amount of investment, to more than RUB  66
   billion. Key projects include  bringing our state-of-the-art facility  for
   the  production  of  phosphate-based  fertilizers  in  Volkhov  to  design
   capacity, and implementing  projects for  the development of  our ore  and
   feedstock resources  in  Kirovsk  and facilities  for  the  production  of
   high-tech products in Cherepovets and Balakovo.”

   Mr Rybnikov thanked the Company’s workers for their concerted efforts,  as
   a result of  which PhosAgro expects  to set a  new production record  this
   year, despite external volatility.

   During the meeting, the Board heard  a report on occupational injuries  at
   PhosAgro subsidiaries. The Board noted a decrease in the Company’s  injury
   rate as a  result of PhosAgro’s  safety culture and  compliance with  high
   standards for occupational health and industrial safety.

   The Board of Directors approved the work plan and budget for the Company’s
   Internal Audit  Department for  2023, as  well  as a  new version  of  the
   Statement on Transparency concerning  the United Kingdom’s Modern  Slavery
   Act. A report on the Company’s work in the area of information  technology
   for 2022 was taken under advisement.

   About the Company

   PhosAgro ( 1 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  NAP/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, and the only producer in Russia of nepheline concentrate.

   The company’s  main  products,  including  phosphite,  over  50  types  of
   fertilizer, phosphate  feed, ammonium,  and sodium  tripolyphosphate,  are
   used in  over 102  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:
    2 www.phosagro.ru 

    

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   ISIN:           US71922G2093
   Category Code:  MSCM
   TIDM:           PHOR
   LEI Code:       25340053KRUNNYUWF472
   OAM Categories: 2.2. Inside information
   Sequence No.:   210403
   EQS News ID:    1519161


    
   End of Announcement EQS News Service

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