PhosAgro EGM Approves Dividends

PhosAgro EGM Approves Dividends

Moscow - PhosAgro (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") has approved the payment of dividends in the amount of RUB 9,324 million, or RUB 72 per share.

The payment will be made from the Company's undistributed net profit as of 31 March 2019. The dividend record date has been set as 10 July 2019.

PhosAgro CEO and Board of Directors member Andrey Guryev said: "PhosAgro's recently-completed large-scale investment programme under the Company's Strategy to 2020, which was completed ahead of schedule last year, has enabled the Company to generate consistent cash flows that can support considerable dividend payments, finance new investment projects and pay for social responsibility programmes.

"Under the Company's strategy to 2025, approved in March 2019, PhosAgro will continue to modernise existing facilities and build new capacities using BATs, as well as innovative and digital solutions.

"We are confident that implementation of this strategy will strengthen PhosAgro's position among global industry leaders as a producer of pure phosphate-based fertilizers, as well as a socially responsible employer that builds corporate housing and takes part in the implementation of a number of major social programmes in the fields of education, healthcare, youth policy, support for sport and environmental initiatives."

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

Dmitriy Zhadan

zhadan@em-comms.com

+7 495 363 2849

+7 916 770 89 09

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.