PJSC PHOSAGRO - PhosAgro Placing USD500m 4.5-yr Eurobond at 3.95%

“Upon completion of this deal, we will use the proceeds to refinance our existing debt portfolio on better terms while maintaining net debt/EBITDA at a comfortable level, and for general corporate purposes.

“I would like to thank the investors from around the world who participated in this placement, who appreciate the qualitative improvements we have worked hard to deliver, and who believe in our Company’s prospects.”

Oversubscription reached 4x (demand exceeded USD 2 billion), with participation from a broad range of institutional investors, banks, asset management companies and funds from Russia, Europe, the United States and Asia.

The credit ratings assigned to PhosAgro’s planned Eurobond issue are BBB- from Standard & Poor’s, Ba1 from Moody’s, and a preliminary rating of BB+(EXP) from Fitch Ratings, which are in line with the Company’s corporate credit ratings.

Citi, Sberbank CIB and VTB Capital acted as Joint Global Coordinators and Bookrunners, and BofAML, SG CIB, UBS Investment Bank and UniCredit acted as Joint Bookrunners on this transaction.

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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%).

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.