RESULTS OF TOGLIATTIAZOT 2016 ANNUAL GENERAL SHAREHOLDERS MEETING

Togliattiazot, Russia's largest ammonia producer, held its Annual General Shareholders’ Meeting. Participants in the AGM, including shareholders and their representatives, control over 80% of the Company’s voting shares.

In accordance with the agenda, the AGM approved the following in the new edition:

· PJSC Togliattiazot Charter;

· Regulation on the Board of Directors of PJSC Togliattiazot;

· Regulation on the General Meeting of the Shareholders of PJSC Togliattiazot;

· Regulation on the Audit Commission of PJSC Togliattiazot.

· Regulation on remuneration and compensation of the members of the Board of PJSC Togliattiazot.

The AGM approved the annual report and financial statement for the fiscal year of 2016.

On the matter of profit distribution (including payment of dividends and remuneration of the Audit Commission members for 2016) it was decided not to pay dividends.

The shareholders elected the Board of Directors of OJSC Togliattiazot consisting of 5 persons:

· Alexander Makarov

· Nikolay Neplyuev

· Petr Ordzhonikidze

· Vyacheslav Suslov

· Christopher Baker

The AGM further elected the Board of Internal Auditors consisting of three persons (Karkovskaya Marina, Usachev Oleg, Severov Mikhail). CJSC Soft Audit was appointed as the Company’s auditor.

Christopher Baker's CV

Expert in corporate law, M&A and operations of restructuring with over 35 years of expertise in almost all major jurisdictions including Russia and CIS countries.

In 1989 he became a founding partner of Skadden, Arps, Slate, Meagher & Flom in Paris, leading it for over 20 years. Prior to that Christopher Baker was involved in setting up the very first office of a major international law firm, Coudert Brothers, in Russia.

Mr Baker has been an associate professor of Law School at Sciences Po (Paris) since 2009. He is also a co-founder and member of the board at School of Advanced Studies of Applied Law (HEAD, Paris).

Mr Baker is a lawyer at the New York and Paris Bars. He is fluent in French, English, German and Russian. He is a graduate of Law Schools of New York and Chicago universities, and holds a BA in Russian history and literature from Harvard.