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PhosAgro PAOAnnouncement

26/02/2018 15:35

For Immediate Release   26 February 2018 

PhosAgro EGM Elects Former UNESCO Director-General as Independent Director and
Approves Dividends

Moscow – PhosAgro ("PhosAgro" or "the Company") (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”) today approved a decision to pay dividends of RUB
2.72 billion, which represents RUB 21 per ordinary share (RUB 7 per global
depositary receipt), from the Company’s undistributed net profit as of 31
December 2016. The record data for shareholders eligible to receive dividends
was set as 12 March 2018.

The EGM also elected PhosAgro’s new Board of Directors, including former
UNESCO Director-General Irina Bokova, who will join as an independent
director.

       Name of candidate   
 1.   Andrey A. Guryev     
 2.   Andrey G. Guryev*    
 3.   Sven Ombudstvedt*    
 4.   James Rogers*        
 5.   Ivan Rodionov*       
 6.   Marcus Rhodes*       
 7.   Mikhail Rybnikov     
 8.   Irina Bokova*        
 9.   Natalia Pashkevich*  
 10.  Andrey Sharonov*     

* non-executive director

Irina Bokova was the Director-General of UNESCO for two four-year terms (2009
- 2017). She was the first woman and the first Eastern European leader of the
Organisation. Her long and successful career has included positions such as
Bulgaria's first Secretary of State for European Integration, Foreign Minister
of Bulgaria, twice an MP, Ambassador of Bulgaria to France and Monaco, and the
Permanent Representative of the Republic of Belarus to UNESCO. Irina Bokova
also contributed to the development of the new Constitution of Bulgaria in
1991. She received a diploma from the Moscow State Institute of International
Relations, continued her education at the University of Maryland (USA) and
completed courses in management at the John F. Kennedy School of Public
Administration at Harvard University.

PhosAgro CEO and Board of Directors member Andrey Guryev said: “In addition
to the the positive news that PhosAgro’s Board of Directors now has a
majority of independent directors, we are pleased to welcome Irina Bokova to
our team. Ms. Bokova spent a long time as the Director-General of UNESCO and
was responsible for coordinating international cooperation on sustainable
development at the United Nations.

“Ms. Bokova’s experience in this sphere, her ties with leading global
research institutes and her international expertise in areas like
environmental protection and scientific research will undoubtedly be useful as
we consider PhosAgro’s new development strategy to 2025.”

Today’s EGM also approved the renumeration and compensation for members of
the Board of Directors.

Notes to Editors

PhosAgro (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 not less than 39% (according to IFA, Fertecon and CRU).

The Company is the largest phosphate-based fertilizer producer in Europe, the
largest producer of high-grade phosphate rock (with a P(2)O(5) content of not
less than 37%) worldwide and the third largest MAP/DAP producer in the world
(excluding China), according to IFA. PhosAgro is also one of the leading
producers of feed phosphates (MCP) in Europe, and the only producer in Russia.
PhosAgro is Russia’s only producer of nepheline concentrate.

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.



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