PhosAgro EGM Approves Dividends

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces that yesterday an Extraordinary General Meeting of shareholders ("EGM") held by absentee voting has approved the payment of dividends in the amount of RUB 4.2735 billion, or RUB 33 per share.

Dividends will be paid from the Company's undistributed net profit as of 30 June 2020. The dividend record date has been set as 15 October 2020.

Commenting on the EGM's decision, PhosAgro CEO and member of the Board of Directors Andrey Guryev said: "Stable dividends are the result of large-scale investments made by PhosAgro in line with its strategy to 2020. Over the past 5 years, PhosAgro has invested over RUB 190 billion into expanding and modernization of its production capacities using the best available technologies. Even under the challenging conditions brought on by the pandemic, PhosAgro has not only avoided suspending its production and investment programmes, which are proceeding according to plan, but it has already created 200 additional jobs since the beginning of the year.

"Most of these jobs were created in Volkhov, where the flagship project of PhosAgro's new development strategy to 2025 is being implemented. Between the end of this year and the middle of next year, the construction of a completely new plant at our Volkhov site will create additional production capacity, enabling PhosAgro to produce up to 800,000 additional tonnes of fertilizers in 2022. At the same time, we will continue to implement social and charity programmes, for which PhosAgro earmarks over RUB 2.5 billion annually."

About PhosAgro

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. PhosAgro's environmentally friendly fertilizers stand out for their high efficiency, and they do not lead to the contamination of soils with heavy metals.

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, over 50 grades of fertilizers, feed phosphates, ammonia, and sodium tripolyphosphate, which are used by customers in 102 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: .