Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), one of the world's leading vertically integrated phosphate-based fertilizer producers, further to its notice of 29 April 2022, hereby announces that, on 19 May 2022, it received a formal permission from the Government Commission on Control for Effectuation of Foreign Investments dated 18 May 2022 authorising PhosAgro to maintain its depositary receipts programme effective and the depositary receipts issued thereunder (ISINs: US71922G3083; US71922G4073; US71922G1004) (the "DRs") to remain in circulation (the "Permission"). The Permission is not expressed to be limited in time.
The issue of the Permission means that the provisions of Federal Law No. 114-FZ "On Amendments to Federal Law "On Joint-Stock Companies" and Certain Legislative Acts of the Russian Federation" dated 16 April 2022 requiring Russian issuers to terminate their depositary receipts programmes, which came into force on 27 April 2022, do not apply to PhosAgro.