Update on PhosAgro’s depositary receipts programme

Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces today that it has been made aware by AO Citibank, the custodian under PhosAgro’s depositary receipts programme ("Programme") which maintains the depositary receipts programme custody account relating to the Programme ("DR Programme Custody Account"), that 170,500 ordinary shares in PhosAgro, which had previously been arrested in the context of criminal proceedings relating to Mr. Volkov’s former stake in PhosAgro, have been debited from the DR Programme Custody Account for onward crediting to Mr. Volkov. The relevant debit was made in accordance with the enforcement order, which entered into force.

About PhosAgro

PhosAgro (www.phosagro.com) 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, more than 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 listed on the Moscow Exchange, and global depositary receipts (GDRs) for shares are listed on the London Stock Exchange (under the ticker PHOR).