For Immediate Release                                         16 January 2017

    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") held today has approved
    the payment of dividends in the amount of RUB 5,050.5 million, or RUB 39 per
    share (RUB 13 per Global Depositary Receipt) from unallocated net profit as of
    31 December 2015.  The record date for shareholders eligible to receive
    dividends has been set as 27 January 2017.

    PhosAgro CEO and Member of the Board of Directors Andrey Guryev said: "This
    year PhosAgro intends to maintain is policy of paying out between 30% and 50%
    of its IFRS net profit as dividends, and in line with existing practice we aim
    to pay dividends just as regularly as in previous years.

    "The completion of two major investment projects due in 2017 - the high-tech
    ammonia and urea lines - is expected to increase production output and income
    from sales, with the resulting growth in free cash flows likely to have a
    positive impact on future dividend payments.

    "We plan to invest RUB 25 billion into the development of our mining,
    beneficiation, and downstream production plans in the year ahead."

    The EGM also approved changes to the PJSC PhosAgro charter as it relates to new
    standards in the federal law on joint-stock companies governing large and
    related-party transactions, which came into effect on 1 January 2017.  In
    addition, the EGM approved several related party transactions that are also
    large transactions.


    Notes to Editors

    PhosAgro (www.phosagro.ru) is one of the leading global vertically integrated
    phosphate-based fertilizer producers. The Company focuses on the production of
    phosphate-based fertilizers, feed phosphate and high-grade phosphate rock (P2O5
    content of not less than 39%).

    The Company is the largest phosphate-based fertilizer producer in Europe, the
    largest producer of high-grade phosphate rock worldwide and the third largest
    MAP/DAP producer in the world (excluding China), according to Fertecon.
    PhosAgro is also one of the leading producers of feed phosphates (MCP) in
    Europe, and the only producer in Russia. It is Russia's only producer of
    nepheline concentrate.

    PhosAgro's main products include phosphate rock, 33 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.