OJSC PHOSAGRO - PhosAgro Shareholding Notice

For Immediate Release

14 April 2016

PhosAgro Shareholding Notice

Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, announces that as a result of transactions completed on 13 April 2016, the companies Adorabella Limited and Choldwig Enterprises Limited have increased their holdings in PhosAgro's share capital to 22.95% and 22.51%, respectively (45.46% in total). As a result of the same transactions, the Companies Fornido Holding Limited, Dubhe Holdings Limited, Miles Ahead Management Limited and Owl Nebula Enterprises Limited are no longer shareholders in the issuer.

Based on information available to PhosAgro, shares of Adorabella Limited and Chlodwig Enterprises Limited, as well as of Fornido Holding Limited, Dubhe Holdings Limited, Miles Ahead Management Limited and Owl Nebula Enterprises Limited are held by trusts, the economic beneficiaries of which are Andrey Guryev and members of his family.

For further information please contact:

OJSC PhosAgro
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
[e-mail]
[phone]

Timur Belov, Press Officer
Anastacia Basos, Deputy Press Secretary
[phone]

EM
Sam VanDerlip
[e-mail]
[phone]
[phone]

Notes to Editors

PhosAgro 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%), as well as ammonia and nitrogen-based fertilizers.

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.

PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore. The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertilizer and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia.

PhosAgro's 2015 IFRS revenue was over USD 3.1 bln and EBITDA was USD 1.4 bln.

For further information on PhosAgro please visit: www.PhosAgro.com