Internal Audit Department

The Internal Audit Department is an independent department within PhosAgro that is responsible for conducting internal audits to provide independent and objective assessment of internal controls and risk management of PhosAgro and its subsidiaries. The Department assists the Company's Board of Directors and the management team to achieve PhosAgro's strategic objectives, increase the Company's value and improve its performance.

The Director of Internal Audit provides regular reports to the Audit Committee and to the CEO on the results of internal audits. The Audit Committee recommends a nominee for the position of the Director of Internal Audit for approval by the resolution of the Board of Directors.