PhosAgro Announces Results of Extraordinary General Meeting of Shareholders 2023

PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, announces the results of its Extraordinary General Meeting of Shareholders (EGM) held on 14 December 2023 in accordance with a decision of the Company’ Board of Directors, which, at a meeting on 9 November 2023, recognised the ongoing successful implementation of the Company’s development strategy to 2025.

The Board meeting noted that PhosAgro’s investment projects to construct new production facilities and modernise existing ones are being carried out in full compliance with the Company’s long-term development strategy. These projects – notably, the construction of a new production facility in Volkhov with a design capacity of 1 million tonnes – advance the production of mineral fertilizers and other products.

At the EGM, PhosAgro’s shareholders approved a decision to pay out dividends in the amount of RUB 291 per ordinary share. The EGM set 25 December 2023 as the dividend record date. Dividend payments will be made on or before 6 February 2024.

“PhosAgro continues to consistently implement its long-term development strategy, invest in production capacities and increase its production of eco-efficient products while maintaining its commitment to ESG principles. Our achievements in the successful implementation of our operational activities and investment programmes have been recognised by the business and investment community. We were ranked among Russia’s 10 largest companies by net profit according to Forbes, and among Russia’s 10 largest companies by revenue according to the Fortune 500 Europe 2023 list. Our excellent production performance enables us to fulfil all our obligations to stakeholders and to expand our support for social and charitable programmes. Over 10 years, our funding for these programmes has increased sevenfold, from RUB 1.9 billion to RUB 12.9 billion,” said Viktor Cherepov, Chairman of PhosAgro’s Board of Directors, commenting on the results of the EGM.