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Corporate Governance

Principles of Corporate Governance

The Company believes that adherence to high corporate standards is a key condition for ensuring transparent, responsible and trustworthy governance that contributes to the successful development of the Company and the achievement of consistently high financial performance.

The principles of corporate governance of the Company, the structure of governing bodies, governance practices and procedures are set in the Company’s Charter and the Corporate Governance Code . The current version of PJSC PhosAgro Corporate Governance Code has been developed in accordance with Russian legislation, the Charter and other internal documents of the Company, with due account for security market operators’ requirements and recommendations set by the Corporate Governance Code approved by the Board of Directors of the Bank of Russia. The provisions of the Corporate Governance Code of the Company are consistent with the Corporate Governance Code approved by the Board of Directors of the Bank of Russia and the UK Corporate Governance Code.

The core principles of the Corporate Governance Code of the Company:

Accountability

The Board of Directors is accountable to the shareholders for the development and successful implementation of the long-term development strategy of the Company, as well as for the establishment of milestones for evaluating the management performance efficiency and, ultimately, for evaluating this efficiency. The executive bodies of the Company are accountable to the Board of Directors and the General Meeting of Shareholders of the Company.

Equality

The corporate governance system protects the rights of shareholders and ensures their equal treatment. The Board of Directors provides all shareholders with the opportunity to receive timely protection in the event of a breach of their rights. Moreover, the Company does not allow discrimination based on gender, skin colour, or religion. We strive to ensure equality within the Company, and our dedication is manifested in the fact that expertise, consistently high performance and displaying adherence to the Company’s values are a necessary and sufficient condition, as well as the only guarantee of career growth and promotion within the Company.

Transparency

The Company ensures proper disclosure and free access for all interested parties to reliable information on the Company’s operations, including data on its financial position, social and environmental indicators, ownership and governance structure.

Responsibility

All material decisions made by the Company affect a large number of people: employees and their families, residents of the cities of operation, shareholders and investors, governmental and non-governmental organizations. We fully recognize the importance of the rights and interests of our employees and their family members, residents of the cities of operation, shareholders and investors, governmental and non-governmental organizations; we strive to respect these rights and interests to the fullest extent; we look for and develop ways of communication and cooperation with interested parties.