PhosAgro CEO Andrey Guryev Visits Ultramar Terminal Being Built at the Port of Ust-Luga for the Transhipment of Mineral Fertilizers

Once construction is completed in 2021, the terminal will be the largest in Europe; in the future, it will be able to tranship up to 25 million tonnes of product per year.

"We showed our support for this project at the St. Petersburg International Economic Forum in 2019, when PhosAgro and Ultramar signed a long-term agreement for transhipment through the Ultramar Terminal," said PhosAgro's CEO following his visit to the terminal. "Today, we are pleased to note that the project has reached an advanced stage. The new terminal may handle the transhipment of more than 3 million tonnes of PhosAgro fertilizers per year, which will make it a crucial facility for the Company.

"As part of PhosAgro's development strategy to 2025, we plan to increase the export of fertilizers by 25 per cent, which is why we are already analysing the logistics involved in delivering additional volumes of product, as well as options for optimising current costs and diversifying the transhipment channels now being used. We are closely following the construction of the terminal in Ust-Luga, and I am confident that, once complete, it will enable us to ship steadily increasing volumes of our fertilizers in the long term."

"The Ultramar Terminal is a unique transhipment facility, the launch of which will eliminate the shortage of capacities needed to ship fertilizers through ports in the north-west [of Russia]", said Mr Bonch-Bruevich. "One of the features that will set it apart is the rate at which it can offload rail freight and load vessels. In addition, it will also provide the flexibility that mineral fertilizer producers and their customers require: the ability to store and quickly load the widest-possible range of products on individual vessels.

"The trust of our partners, and of PhosAgro first and foremost, is helping us to overcome the difficulties associated with the implementation of such a large-scale project. As of now, construction is ahead of schedule, and we expect the transhipment of PhosAgro fertilizers through the Ultramar Terminal to begin this November."

About us

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 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: www.phosagro.com.