Uralkali appoints Senior Independent Director and launches CSR Board Committee

Uralkali appoints Senior Independent Director and launches CSR Board Committee

Uralkali (LSE: URKA), one of the world’s largest potash producers, announces the decisions made by the Board of Directors at a meeting on 21 December 2011.

The Board resolved to appoint Sir Robert John Margetts, who has been serving on the Board since June 2011, as Senior Independent Director of Uralkali. In addition, the Board appointed independent directors to all committees and approved new editions of the Regulations on the Appointments and Remuneration Committee, the Regulations on the Investment and Development Committee, and the Regulations on the Audit Committee.

The Board also resolved to create a Committee on Corporate Social Responsibility (CSR) and approved the Regulations on this Committee. This new Board Committee is responsible for considering the Company’s policies and activities relating to health and safety, environment protection and social responsibility. The CSR Committee is headed by Sir Robert John Margetts, the senior independent director.

The Board of Directors approved the Company’s annual budget for 2012.

The Board also approved the execution of deeds of indemnity for the independent directors of the Board.

Vladislav Baumgertner, Uralkali CEO:

“We reaffirm our commitment to best practice international corporate governance standards and we continue to work to further improve our corporate governance and accountability. That is why we have appointed a senior independent director and included independent directors in all committees. We believe that the expertise and experience of our independent directors will make a significant contribution to the efficiency the work of the Board committees. Moreover, we have increased the control over our activities in the field of corporate social responsibility and have established a dedicated committee. The work of the CSR committee will allow us to take a more systematic approach to our CSR activities.”

Uralkali (www.uralkali.com) is one of the world’s largest potash producers with a market share of about 20%. The Company’s assets consist of 5 mines and 8 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs over 23,000 people. Uralkali’s shares and GDRs are traded on the LSE, RTS and MICEX.

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