REG-PJSC PhosAgro: PhosAgro EGM Approves Dividend Payment

PhosAgro PAOAnnouncement

01/10/2018 15:50

For Immediate Release   1 October 2018 

PhosAgro EGM Approves Dividend Payment

Moscow – PhosAgro ("PhosAgro" or "the Company") (Moscow Exchange, LSE:
PHOR), one of the world’s leading vertically integrated phosphate-based
fertilizer producers, announces that today an Extraordinary General Meeting of
Shareholders (“EGM”) approved the payment dividends in the amount of RUB
5.83 billion, or RUB 45 per common share (RUB 15 per global depositary
receipt), from undistributed net income. The EGM set 12 October 2018 as the
record date for the receipt of dividends.

PhosAgro CEO Andrey Guryev said:"successful implementation of investment
projects has enabled the Company to generate stable cash flows, 50-60% of
which is directed annually to finance projects under our new investment cycle.
At the same time, we continue to make dividend payments and implement social
and charity programmes.

“In particular, in the first six months of this year, RUB 15 billion was
allocated to capital expenditure, and we forecast a total of RUB 32-33 billion
for the full year. Among the main projects that are underway are the
construction of new advanced sulphuric and nitric acid plants, as well as new
ammonium sulfate production and mondernisaation of existing sulphuric acid
lines at our Cherepovets site, while in Kirovsk we are focussed on the
construction of a conveyor system for transportation of overburden and
modernisation of the apatite-nepheline enrichment facilities in order to start
processing off-balance ores. Recently, we commissioned an ammonia pipeline and
an upgraded sulphuric acid plant in Balakovo, and we are analysing prospects
for the further development of production in Volkhov."

For further information please contact:

PhosAgro

Alexander Seleznev, Head of Investor Relations Department
+7 495 232 9689 ext 2187
ir@phosagro.ru
Timur Belov, Press Officer
+7 495 232 9689

EM
Sam VanDerlip
vanderlip@em-comms.com
+44 7554 993 032
+7 499 918 3134

About the Company

PhosAgro 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 P2O5 content of 39% and
higher.

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 P2O5 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 concentrate (according to the RAFP).

PhosAgro’s main products include phosphate rock, 39 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.

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



Copyright (c) 2018 PR Newswire Association,LLC. All Rights Reserved