ESG REPORT
For People, Animals and the Planet
Published: June 2022

PUTTING A STAKE IN THE GROUND:  
OUR INAUGURAL ESG REPORT
This Environmental, Social and 
Governance (ESG) Report describes 
Phibro Animal Health Corporation’s 
(Nasdaq: PAHC) ESG efforts and 
performance through December 
31, 2021, and reflects consolidated 
company operations, unless otherwise 
noted. Included in this Report are 
disclosures containing relevant, 
industry-specific data and information 
aligned with the Sustainability 
Accounting Standards Board (SASB) 
framework, along with select 
disclosures aligned with the Global 
Reporting Initiative (GRI) framework.
Content within this Report should not 
be considered a substitute for Phibro’s 
SEC filings, including, but not limited to, 
our Annual Reports on Form 10-K and 
Quarterly Reports on Form 10-Q.
This inaugural ESG Report captures 
the myriad ways Phibro empowers  
our people, protects the environment,  
acts with integrity and engages  
with the communities in which we 
operate globally.

A Letter From Our President, CEO and Chairman of the Board............................ 4
We Stand for Health ............................................................................................................ 5
Our ESG Journey Begins: Materiality Assessment and Corporate ESG Policy..... 6
Our Commitment to Sustainable Development Goals (SDGs) ................................... 9
Our Commitment to Customers............................................................................................. 11
Our Commitment to the Agricultural Community.............................................................. 14
Environmental Stewardship.............................................................................................. 17
Risk Management: Climate Change........................................................................................... 20
Key Priorities and Progress............................................................................................................ 21
Social Responsibility and Well-Being.................................................................................. 24
Key Priorities and Progress................................................................................................................ 32
Fair and Transparent Governance............................................................................................ 43
Key Priorities and Progress................................................................................................................... 47
Next Steps on Our ESG Journey............................................................................................................ 51
Appendix........................................................................................................................................................ 52
      SASB Index ................................................................................................................................................ 53
       GRI Index ..................................................................................................................................................... 54
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CONTENTS

We at Phibro are proud to serve livestock 
producers, veterinarians, nutritionists and 
advisors around the world who are committed 
to animal care and producing healthy food. 
They face new challenges every day, yet they 
persevere with hard work, humility and deep 
respect through their roles as animal care 
providers and stewards of our earth.
It’s in the face of adversity that we can choose 
to rise to the occasion or stand on the sidelines. 
At Phibro, we rise to the challenge. 
What our world has experienced in the past 
two years is unprecedented in my lifetime 
– a global pandemic, political polarization, 
economic upheaval, soaring food and fuel 
prices, and the recent Russian invasion 
of Ukraine. The backdrop to this evolving 
landscape is an urgent call to action by 
the United Nations to achieve aggressive 
Sustainable Development Goals (SDGs) by 
2030 – addressing pressing needs to tackle 
hunger, poverty, education disparities, gender 
inequality, climate change and more.
Healthy animals play a pivotal role. That is not 
lost on us.
We’re proud to contribute to making our world 
a better place, and with the publication of our 
inaugural Environmental, Social and Governance 
(ESG) Report, we are putting more emphasis 
than ever before on benchmarking and sharing 
our progress against meaningful environmental 
and social outcomes.
We have a broad portfolio of safe and 
effective animal health products – 
encompassing vaccines, medicated feed 
additives and science-based nutritional 
products. We provide a range of effective 
technologies and solutions that protect 
cattle, poultry, swine, aquaculture and 
companion animals. From our state-of-the-art 
manufacturing facilities to our local in-field 
experts, we bring research-based, proven 
solutions supported by a “roll-up-your-
sleeves” team of exceptional problem  
solvers dedicated to animal health and 
customer success.
We’re boldly branching off into other important 
sectors too: consumer, plant nutrition and 
renewable energy – all with an eye toward being 
better stewards of our earth, each and every day. 
Our first ESG Report highlights our 
accomplishments and demonstrates the 
commitment of the entire Phibro team.
Throughout history, raising healthy animals 
has been foundational to a healthy, affordable 
food supply and ultimately, to our survival as 
a civilization. As the world population grows 
and challenges mount, we at Phibro have a 
responsibility to meet the demand for safe, 
affordable protein and do it more sustainably. 
We’re all in.
Our compass is our commitment to do the 
right thing for our customers and the animals 
in their care, our employees, the public and 
the planet. Always.
 
JACK BENDHEIM  
President, CEO  
and Chairman  
of the Board
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A LETTER FROM OUR PRESIDENT, CEO 
AND CHAIRMAN OF THE BOARD
HEALTHY ANIMALS. HEALTHY FOOD. HEALTHY WORLD.® 
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WE STAND FOR HEALTH
Our story begins  
simply – with an authentic 
commitment to contribute to a 
healthy, affordable food supply 
by helping farmers, ranchers 
and veterinarians responsibly 
care for their animals.
For years, Phibro (Nasdaq: PAHC)  
has delivered an ever-expanding 
portfolio of innovative animal health 
solutions and exceptional support to 
our customers in the United States 
and around the world.
We’re proud of a visionary research 
and development team that continually 
works on new technologies to improve 
the health and welfare of animals. It’s 
because of their dedication to finding 
solutions that we offer a range of proven 
products: vaccines, medicated feed 
additives and nutritional and  
mineral products.
Our broad portfolio, backed by in-house 
manufacturing, continues to evolve with 
a focus on natural, sustainably produced 
products.
With determination and integrity, we have 
grown into a global company, serving 
customers in more than 80 countries and 
expanding beyond food animal health to the 
companion animal, plant nutrition, consumer 
and energy sectors. Now over 1,700 
employees strong, our team doesn’t take 
lightly the trust placed in our products and the 
trust of our customers as we stand together  
as partners.
PURPOSE
MISSION
Optimize animal health  
and nutrition for better  
lives and a more  
sustainable world. 
Provide safe and  
effective solutions  
for our customers’  
unique challenges.  
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155 million people in 55 countries 
experienced acute hunger requiring  
urgent food assistance in 2020.
Source: World Food Programme

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OUR ESG JOURNEY BEGINS: MATERIALITY 
ASSESSMENT AND CORPORATE ESG POLICY
A FAMILY COMPANY  
AT OUR CORE 
Phibro is serious about ESG because the 
principles of ESG align with how we’ve 
done business since the very beginning. We 
care about our employees, our customers, 
our impact on communities, and the 
natural resources entrusted to our care. We 
understand that providing animals with 
quality nutrition and treating them with 
respect and compassion leads to healthy 
animals. And healthy animals drive a more 
abundant supply of quality protein for 
consumers around the world.  
OUR ESG JOURNEY BEGINS
Phibro’s success depends on understanding 
and responding to the changing world. In 
2021, we conducted our first Materiality 
Assessment to identify the ESG topics that 
are perceived to be most important to our 
customers, employees and stakeholders 
and are most relevant to our business. With 
the assistance of a third party, we initially 
completed the Materiality Assessment  
using this process:
•  Looked to peers in animal health and 
life sciences to understand the ESG 
frameworks most relevant to Phibro.
•  Sourced materiality topics specific  
to the industry from applicable 
frameworks, starting with the 
Sustainability Accounting Standards 
Board (SASB) to identify initial 
metrics, and leveraging Global 
Reporting Initiative (GRI), MSCI  
and S&P Global to develop a  
more holistic list.
•  Surveyed key stakeholders 
including employees, executives, 
investors, sell side analysts, 
creditors and trade associations, 
and calibrated the content 
of this Report to ensure it 
responds to our stakeholders’ 
needs and expectations.
 
KEEPING ANIMALS HEALTHY
Keeping animals healthy helps keep families  
healthy and helps feed a growing world 
DOING THE RIGHT THING
Doing the right thing for our customers  
builds meaningful relationships
FOCUSING ON OUR CUSTOMERS
Focusing on our customers’ needs inspires our  
most inventive solutions
CONTINUOUS INVESTMENT IN OUR PEOPLE
Continuous investment in our people, our company  
and our industry is essential for future growth
SUCCESS IS BUILT ON A PASSION FOR EXCELLENCE
Success is built on a passion for excellence and the willingness of 
every team member to roll up their sleeves - we’re in this together
INDIVIDUALS MAKE AN IMPACT
Maintaining our flexibility, urgency and an environment where 
individuals make an impact is essential no matter how large we grow
 
BELIEFS
At Phibro Animal Health  
Corporation we believe in:

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OUR ESG JOURNEY  
BEGINS (CONTINUED) 
As part of our journey, we identified SASB 
metrics most applicable to our unique 
business. This Report contains select metrics 
from the Meat, Poultry & Dairy and Food 
Retailers & Distributors industries. 
At Phibro, a global, cross-functional team 
is working diligently to design, develop and 
institutionalize our ESG initiatives. As a 
next step, we will develop key performance 
indicators (KPIs), targets and actions for the 
material topics that ranked as high impact 
for Phibro and of high importance to our 
stakeholders, in order to qualitatively and 
quantitatively measure our progress.
We‘re committed to ESG. It’s simply an 
extension of our long-held commitment to 
do the right thing and ensure the health and 
welfare of animals, which yields a heathier 
and more sustainable food supply.
CONTINUITY AND COMMITMENT 
The company traces our roots to 1914 when Siegfried Bendheim 
launched Philipp Brothers, Inc. upon immigrating to New York City. 
Siegfried and his son Charles formed Philipp Brothers Chemicals, Inc. 
in 1946. We changed our name to Phibro Animal Health Corporation 
(PAHC) in 2003 to reflect our focus on keeping animals healthy. 
PAHC became a publicly held company in 2014.
Siegfried’s grandson, Jack Bendheim, is celebrating his 53-year 
anniversary with the company. 
“I have had the privilege to work here since 1969. In my 50+ years 
with the company, I have seen a lot of change, but nothing compares 
to the global challenges we have faced most recently. What hasn’t 
changed are the values foundational to this company, including our 
commitment to our people, our industry, our shareholders and to 
protecting the planet.”
President, CEO and Chairman of the Board
“

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True to our legacy as a dynamic, family-run 
company that takes care of our employees, 
their families and the communities in which we 
operate, Phibro is committed to the health of 
animals and support for the people who care for 
them. Healthier animals will help create a healthier 
future for people and our planet.
ESG is embedded in our operations through our 
strategic decision-making and business processes 
as we continue to work with our customers and 
communities to reach common goals. Phibro has a 
proven track record of evolving with the changing 
times, and it is our sincere intent to accelerate our 
ESG journey. 
Leadership at Phibro starts with our Board of 
Directors, CEO and senior management and 
cascades across the company. 
We are committed to investing in our ESG 
program, including gathering input from 
stakeholders. While developing our first ESG 
Report, we surveyed key stakeholders to 
understand their perspective on priority areas. We 
were pleased to see strong alignment between 
their interests and ours, thus forming the basis of 
the content of our Report.
The animal health community plays a key role in 
feeding the world. Despite continuous efforts of  
all in food and agriculture, there is more work 
to do. According to the United Nations, nearly 
690 million people, or 8.9 percent of the world 
population, are hungry. That’s why ESG is more 
than a scorecard to us, it’s our commitment – a 
commitment that’s integral to our company: 
Healthy Animals. Healthy Food. Healthy World.®
OUR CORPORATE ESG POLICY
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OUR COMMITMENT  
TO SDGs
Healthy animals play a vital role in the United 
Nations’ ambitious Sustainable Development 
Goals (SDGs). The SDGs are a call-to-action 
by developed and developing countries to 
address global challenges by 2030.
In many parts of the world, hunger, 
malnutrition and starvation are daily realities. 
While animal protein provides sustenance, 
the contribution of healthy animals goes 
beyond food.
Healthy animals give families in 
underdeveloped and developing countries 
a way to make a living – raising them out of 
poverty, providing access to well-rounded  
diets, giving women more opportunity 
to farm, providing better healthcare and 
education and improving local economies.
The nutritional and societal contributions 
of healthy animals around the world are 
truly transformative. Phibro intends to work 
toward contributing to five of the seventeen 
SDGs we believe are core to our industry, as 
outlined on the following page.

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NO POVERTY
In certain parts of the world, animals 
raised for food are an essential driver of 
economic growth. Consider that more 
than 1 billion people, 1 in 6 people 
worldwide, are employed in livestock 
production. Their livelihood depends on 
animal health.
ZERO HUNGER
In developing regions, a single, healthy 
animal can provide food for a family, 
manure for their plants and labor to 
help till the field. It can also provide an 
income that allows them to buy more 
fruits, vegetables and grains for improved 
nutrition and a well-rounded diet. 
DECENT WORK AND 
ECONOMIC GROWTH 
Healthy animals support sustainable, 
inclusive economic growth. Consider 
that women reinvest up to 90% of their 
earnings back into their households.
Increased income means affording 
education opportunities and better 
quality food for improved health. 
CLIMATE ACTION
Even though the carbon footprint of 
animal agriculture is relatively small, we 
can do better. The industry continues to 
improve management practices through 
efforts that include using animal health 
products to reduce stress and disease, 
improve genetics and increase animal 
productivity. 
RESPONSIBLE CONSUMPTION 
AND PRODUCTION 
Farmers take great care of their natural 
resources to assure a sustainable food 
supply. Consider the circular nature of the 
farm. Many livestock farmers also grow 
crops that are used to feed the animals, 
whose manure is used to fertilize the 
crops in a continuous, sustainable cycle. 
DIRECT CONTRIBUTIONS  
OF HEALTHY ANIMALS  
TO SDGs
For more information, visit: HealthForAnimals

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OUR COMMITMENT TO CUSTOMERS
In light of the importance of animals in global 
efforts to achieve SDGs, improving animal 
health can accelerate efforts to achieve 
success. Phibro delivers a comprehensive 
portfolio of solutions for animal and plant 
health and the fuel industry.
Our research and development teams 
continually work on new technologies, 
developing and manufacturing safe, 
innovative and effective products and 
delivery systems to ensure the success of  
our customers, globally.
FOR LIVESTOCK & 
AQUACULTURE
Phibro provides a broad range of proven 
products for beef cattle, swine, poultry, dairy 
cattle and aquaculture. We have top-of-the-
line products, backed by experts dedicated to 
serving farmers, ranchers, nutritionists  
and veterinarians.
MEDICATED FEED ADDITIVES. Giving 
animals a healthy start is vital to solving 
global challenges including hunger, poverty, 
public health and climate change. The reality 
is, 20 percent of livestock worldwide is 
lost to disease every year – 1 in 5 animals, 
according to the World Organisation for 
Animal Health (OIE). That’s why medicated 
feed additives are so important. Our products 
prevent and treat disease, which leads to an 
improvement in overall animal health.
VACCINES. Our vaccines provide effective 
protection against disease, prevent animal 
suffering and help farmers meet the highest 
standards of animal care. Outside the U.S., 
we offer a broad portfolio of innovative 
vaccines for poultry, backed with on-farm 
technical support and continual innovation. In 
the U.S., we develop, manufacture and supply 
autogenous,* or custom-made, vaccines that 
protect against bacterial and viral diseases 
for poultry, swine and cattle. 
 *Potency and efficacy of autogenous biologics have  
not been established by the USDA.
 
PRECISION IN 
PREVENTIVE 
MEDICINE
While some companies rely solely on 
“off-the-shelf” vaccines, Phibro can 
tailor vaccines to specific diseases on 
the farm – giving veterinarians and 
farmers a valuable tool to keep animals 
healthy. Known as autogenous 
vaccines, these precisely calibrated 
products are important for protection 
against emerging strains of bacteria 
and viruses.

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NUTRITIONAL SPECIALTY PRODUCTS. 
We set ourselves apart as a leading provider 
of nutritional specialty products, based on 
extensive research and proven results. Our 
innovative, science-based solutions help our 
customers achieve optimal animal health. 
We offer proprietary nutritional specialty 
products that have been developed in 
cooperation with private research companies 
and leading university partners. We go the 
extra mile, conducting field trials to confirm 
our products are effective and help achieve 
the animal health and production goals of  
our customers. 
MINERAL NUTRITION.  
We develop and manufacture custom 
trace mineral pre-mix blends that fortify 
and maintain an optimal balance of 
minerals in the diet. Our diverse mineral 
portfolio includes a wide array of trace and 
macro mineral products including copper, 
zinc, cobalt, iron, selenium, manganese, 
magnesium, iodine and others. We have 
expanded our offering to include the 
GemStone® line of organic trace minerals, 
selenium yeast and chromium tripicolinate.
Our production facilities include Quincy 
and Chillicothe, Illinois, USA and Omaha, 
Nebraska, USA. Our extensive sourcing 
capabilities combined with the Quincy plant 
located near the Mississippi River allow us to 
bring in bulk micronutrient elements by eco-
friendly barge.  
In today’s environment, understanding 
and managing the source of minerals and 
ensuring their quality is essential. Our 
rigorous Dynamic Quality Assurance® 
(DQA®) program provides added security 
and inspires confidence that our products 
are safe and effective so they can help 
contribute to healthy animals and a healthy 
food supply. DQA® brings together Phibro’s 
experts in Material Science and Biological 
Research to source ingredients for, 
formulate and deliver trace mineral pre-mix 
blends of the highest quality.  
Many Phibro products are customized for 
individual customers to deliver optimal 
mineral nutritional balance in animal diets. 
Good nutrition is as important for animals as 
it is for people.
OUR COMMITMENT TO CUSTOMERS
OUR COMMITMENT TO CUSTOMERS

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FOR PLANTS
Global population growth combined with 
limited land and water resources makes it 
more important than ever to maximize crop 
yields. Phibro’s plant nutrition products are 
used primarily in the production of grains, 
forages, fruits and vegetables and include 
microbials and macro and trace elements. 
Microbials are used in seed treatment or foliar 
application to protect plants against harmful 
organisms and pests. Macro and trace element 
products provide a supplemental source of 
nutrients required for optimal plant health  
and production.
FOR FUEL, DISTILLERS GRAIN & 
DISTILLERS CORN OIL
Phibro Ethanol is dedicated to providing a 
process that creates cleaner fuels, cleaner air 
and better co-products to serve the animal 
feed and biofuel industry. Our growing line 
of products helps control bacteria, treat 
fermentation infections and enhance cleaning to 
improve the performance of ethanol producers. 
Ultimately, Phibro Ethanol provides cost 
effective treatment to optimize plant operations.
FOR INDUSTRY
Through our legacy chemical business, 
Performance Products, we manufacture and 
market several specialty ingredients for use 
in the personal care, industrial chemical and 
chemical catalyst industries.
Performance Products include PhibroChem  
(a division of Phibro Animal Health 
Corporation), Ferro Metal & Chemical 
Corporation Limited and Phibro-Tech, Inc.
PhibroChem and Ferro Metal & Chemical 
Corporation supply specialty chemicals to the 
U.S. and European markets for use in coatings, 
personal care, metal finishing and a range of 
industrial applications. 
Phibro-Tech, Inc. is a metal-based industrial 
recycler and a manufacturer of copper-based 
products.

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Global challenges require collective effort. 
That’s why Phibro participates in the following 
organizations with meaningful missions that 
share our commitment to ESG.
HEALTH FOR ANIMALS
Phibro is a proud member of HealthforAnimals. 
Based in Brussels, Belgium, the not-for 
profit organization represents animal health 
companies and industry associations globally, 
including manufacturers of veterinary 
pharmaceuticals, vaccines and other animal 
health products throughout the world.
People, animals and the planet share “One 
Health.” What affects one may directly affect 
the others. An outbreak of a livestock disease 
can reduce production of meat, milk or eggs. 
Meanwhile, pathogens in wildlife can cross 
over into vulnerable populations of people and 
domestic animals, as we saw with COVID-19. 
It’s why improving the health of animals can 
strengthen efforts to achieve SDGs by 2030.
The role of HealthforAnimals is to foster a 
greater understanding of the interconnected 
nature of animal health, human health and the 
environment. Additionally, the organization 
promotes the predictable, science-based 
regulatory environment that facilitates the 
supply into the marketplace of innovative, 
quality products that contribute to the supply 
of safe, healthy food and to high standards  
of health and welfare for animals and people. 
Phibro serves in various leadership roles, 
directly contributing to HealthforAnimals 
resources leveraged by the broader animal 
health sector and amplifying the  
organization’s important messages.
INSTITUTE FOR FEED  
EDUCATION & RESEARCH
The mission of the Institute of Feed Education 
& Research (IFEEDER) is to advance 
understanding and trust in a sustainable 
animal feed and pet food supply chain through 
timely research and education. Founded 
in 2009 by the American Feed Industry 
Association (AFIA), the non-profit seeks 
to earn public trust through transparency 
and collaboration that engages diverse 
perspectives.
OUR COMMITMENT TO THE  
AGRICULTURAL COMMUNITY 
PRINCIPLE 1: 
STRENGTHEN GLOBAL COOPERATION
PRINCIPLE 2: 
DATA-DRIVEN DECISION MAKING
PRINCIPLE 3:  
MINIMIZE OUR FOOTPRINT
PRINCIPLE 4:  
INNOVATE FOR A BETTER WORLD
PRINCIPLE 5:  
SUPPORT ANIMAL CARETAKERS
PRINCIPLE 6:  
PRIORITIZE ANIMAL HEALTH & WELFARE
For more information, visit HealthforAnimals
ANIMAL HEALTH SECTOR’S 
PRINCIPLES OF SUSTAINABILITY

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Specifically, IFEEDER:
• Funds critical animal feed and pet food research 
to support AFIA legislative and regulatory 
positions
• Develops messaging to policymakers, consumer 
influencers and stakeholders highlighting the 
industry’s positive contributions to the availability 
of safe, wholesome and affordable food, and 
preservation of our natural resources 
Current and future initiatives include supporting 
the Clarity and Leadership for Environmental 
Awareness and Research (CLEAR) Center at 
University of California Davis. Led by Dr. Frank 
Mitloehner and based in the Department of 
Animal Science in the College of Agricultural and 
Natural Resources, CLEAR uses research and 
communication to help animal agriculture operate 
more efficiently in order to meet demands of a 
growing population and lesson its impact on the 
environment and climate. Research includes the 
important work of quantifying and mitigating 
greenhouse gas emissions from livestock.
In addition, IFEEDER continues work on a 
Sustainability Roadmap, a pivotal component of its 
efforts to lower animal agriculture’s environmental
footprint and advance industry solutions. The 
roadmap is designed to provide life cycle data up 
and down the production chain and explore the 
scope of sustainability guidance and resources 
needed by the animal food industry for  
continuous improvement.
IFEEDER supports the North American Meat 
Institute (NAMI) and AFIA’s involvement in 
several like-minded organizations such as the U.S. 
Roundtable for Sustainable Beef, U.S. Farmers & 
Ranchers in Action (USFRA) and others. Working 
with these groups not only helps expand the reach 
of the feed industry’s message through consumer 
influencers, but also allows IFEEDER to amplify 
the messages of others.
Phibro is a member of AFIA and a contributor 
to IFEEDER, providing ongoing sponsorship and 
amplifying the good work of IFEEDER. Phibro 
representatives have served on the organization’s 
board of directors in the past and continue to do 
so today.

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ANIMAL AGRICULTURE ALLIANCE:  
AAA brings together farmers, ranchers, veterinarians, 
animal feed companies, animal health companies, 
processors, allied associations and others involved in the 
agri-food value chain.
DAIRY SUSTAINABILITY ALLIANCE:  
This multi-stakeholder group includes companies and 
organizations across the dairy community dedicated to 
contributing to dairy’s social responsibility journey. 
DISTILLERS GRAINS TECHNOLOGY 
COUNCIL:
DGTC is a non-profit organization that provides 
educational and technical services to improve the quality, 
value and utilization of distillers grains in the fuel ethanol, 
beverage alcohol and livestock industries.
INTERNATIONAL POULTRY COUNCIL:  
IPC is the voice of the global poultry meat industry, 
comprised of national sector associations, poultry 
businesses and other key industry stakeholders like Phibro.
NATIONAL CHICKEN COUNCIL:  
NCC is a trade association in the U.S. that advocates for 
companies raising and processing chickens for meat  
(called broilers).
PHIBRO ALSO  
PARTICIPATES IN…
OUR DAIRY VALUES™  
AND VITAL INSIGHT™ 
The Phibro Our Dairy Values program is just one way our 
commitment to farmer success is illustrated. Businesses and 
organizations function better when there’s clarity around identity 
– clearly defining who they are and what they stand for. Our 
Dairy Values is an interactive and comprehensive process that 
helps dairies define their unique purpose and values, instill that 
foundation in farm work culture and publicly communicate the 
dairy practices and work that brings their values to life.
A companion initiative, Vital Insight, is a comprehensive  
and anonymous employee assessment survey for dairies. Phibro 
works in partnership with Purdue University Center for Food and 
Agricultural Business to bring this program to our customers and 
partners. Vital Insight is an important step in helping dairy leaders 
identify what’s working and what can be improved on their farms. 
The desired outcome is creating an attractive workplace for both 
current and prospective employees.
(FB-FR-430a.3)

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ENVIRONMENTAL STEWARDSHIP
The pursuit of more efficient, sustainable 
operations and customer solutions is core to 
Phibro’s DNA. Our R&D and manufacturing 
facilities strive to uphold the highest 
standards, and our raw materials have long 
been sourced in a responsible manner. 
Employee-led sustainability committees at 
our manufacturing facilities spearhead efforts 
to recycle and reduce waste and energy 
consumption. Companywide, this inaugural 
ESG Report establishes our intention 
from this point forward to benchmark and 
report our progress against meaningful 
environmental sustainability milestones. 
As global demand for protein increases and 
Earth’s natural resources remain constrained, 
the need for efficient food production has 
never been more urgent. Our animal health 
products can be used to help prevent and 
manage disease outbreaks and enhance 
nutrition to support natural defenses against 
diseases. Animal health interventions beget 
more productive animals, enabling farmers 
and ranchers to demonstrably lower emissions 
and use less land, crops for feed and water.
Phibro’s product portfolio features innovative 
solutions for climate-smart agriculture and 
renewable energy. For example: 
SPREADING SUSTAINABLE PRACTICES: 
“PECUÁRIA DO CONHECIMENTO” 
With a mix of classroom and field-based trainings on genetics, nutrition and 
pasture management, this program fosters efficient, profitable and sustainable 
cattle ranching.
Phibro, in conjunction with the Secretary of Agriculture and Supply of the State  
of São Paulo, has hosted more than 100 training sessions in Brazil since 2012.
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BIOAUGMENTATION: NATURE’S 
POLLUTION SOLUTION
Bioaugmentation, or the use of beneficial 
microbes to drive complex chemistry, is a 
powerful tool for neutralizing environmental 
pollutants through natural biological digestion. 
Its practical applications span industrial 
manufacturing, municipal wastewater 
treatment, manure storage facilities on  
farms and the waste we generate at home. 
The bioaugmentation solutions made by 
Phibro’s Osprey Biotechnics unit are safe 
to handle and non-pathogenic to humans. 
Osprey screens large libraries of microbes to 
select for activity against a target compound 
and produces specific formulations via 
fermentation technology. Companies that 
specialize in the sales and service of these 
products distribute them under their own 
brand names to the industrial, environmental 
management and remediation markets and 
household consumer markets. 
Osprey’s products have earned Safer Choice 
recognition from the U.S. Environmental 
Protection Agency since 2003. We acquired 
the business in 2019.
 
PHIBRO STRIVES TO REDUCE WASTE 
AND CREATE PRODUCTS THROUGH 
RECYCLING
Over the last 10 years, one of our sites in Brazil has significantly reduced production 
waste consisting of ammonium sulfate, methanol and ammonium hydroxide.
By redesigning the process flow and investing in equipment, the facility now 
separates and purifies the methanol and ammonium sulfate. The recovered  
methanol is approximately 95 percent pure and is reused in the process. The 
recovered ammonium hydroxide is used by fertilizer 
manufacturers and other industries as a raw  
material. The facility reduced its ammonium  
hydroxide waste by 81 percent with a  
cost reduction of 90 percent. Methanol  
losses were reduced by about  
70 percent, with a savings of nearly  
$155,000 annually since 2020.

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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REALIZING ETHANOL’S POTENTIAL:  
A CLEANER PROCESS FOR FUEL, AIR  
& AGRICULTURE CO-PRODUCTS
Ethanol is a renewable biofuel typically made 
from grains and crops with high starch and 
sugar content such as corn, sorghum, barley, 
sugar cane and sugar beets. Phibro has a 
growing product line designed to help treat 
fermentation infections and enhance cleaning 
to improve the performance of ethanol 
producers. This enhances the generation of 
renewable energy for myriad industries and 
the production of animal feed ingredients, such 
as distillers grains and distillers corn oil, that 
help farmers and ranchers adopt climate-smart 
agricultural practices.
Phibro Ethanol’s portfolio includes 
antimicrobials, yeast, process cleaning 
products and corn oil recovery products that 
deliver value to a plant’s bottom line and  
result in a cleaner plant that produces more 
ethanol, better animal nutrition co-products 
and less air pollution.
IN CLOSING: IT’S OUR RESPONSIBILITY 
Phibro is committed to operating and growing 
our business in a way that helps our customers 
thrive and that balances our current and future 
needs while being responsible  
environmental stewards.
 
REDUCING THE  
NEED TO MINE METALS
Phibro-Tech, Inc. (PTI) recycles and manufacturers copper and iron-based 
products and recycles permitted waste, with and without metals, primarily 
from the electronics industry. It has an inherently circular business model, 
annually receiving approximately 60 million pounds of industrial waste 
streams and recovering copper and other metals from within those streams. 
By eliminating our customers’ need to extract new materials and avoiding 
the need to dispose of waste that contains recoverable metals, this process is 
more environmentally friendly and cost-efficient versus traditional methods. 
PTI earned bronze-level recognition for its business sustainability efforts as 
determined through an audit by Ecovadis.

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RISK MANAGEMENT: CLIMATE CHANGE 
Phibro and our Board of Directors are 
committed to sound and transparent corporate 
governance principles that strengthen 
accountability, oversight and alignment with 
key stakeholders. The company’s intent is 
to work toward aligning our metrics and 
reporting to the framework developed by 
the Task Force on Climate-Related Financial 
Disclosures (TCFD).
Our principles, which focus on effectively 
managing risk and preserving long-term, 
sustainable value for the benefit of our 
shareholders, our employees and the broader 
ecosystem in which we operate, are outlined in 
the Fair and Transparent Governance section 
of this Report. 
In the fiscal year ending June 30, 2021, Phibro 
performed our first global Strategic Risk 
Assessment. Each risk was assigned to an 
owner, our strategy to monitor and mitigate 
the risk was defined and agreed upon, and 
the results were shared with the Board of 
Directors with further actions taken where 
necessary. We plan to refresh this process 
annually. In addition to the information set 
forth in this ESG Report, we acknowledge 
the risks set forth in the “Risk Factors” section 
of the Annual Report, and in our subsequent 
reports filed with the SEC, could materially 
affect our business, including those risks 
related to climate change. 
For details, see our 2021 Annual Report on Form 10-K. 
 
Phibro recognizes climate change could have  
a material adverse impact on our operations and our 
customers’ businesses. Our companywide ESG initiative,  
in part, will address this risk on a go-forward basis.
CAPITAL 
INVESTMENT 
TARGETS AIR 
EMISSIONS
Six years ago, Phibro’s facility in Neot Hovav, 
Israel, invested more than $6.5 million to 
install a Regenerative Thermal Oxidation 
(RTO) system that connects to every piece 
of equipment and process in the plant. The 
system was designed to treat 20,000 cubic 
meters of air flow per hour. According to our 
estimates, the RTO annually incinerates more 
than 20 tons of organic materials emissions, 
on a total carbon (TOC) basis, that otherwise 
would be emitted into the air.

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KEY PRIORITIES AND PROGRESS
Based on Phibro’s Materiality Assessment, we plan to track and report our progress against the following Environmental Stewardship topics on 
a go-forward basis: Greenhouse Gas Emissions, Energy Management, Water Management and Waste & Hazardous Substance Management. 
Relevant SASB and GRI metrics, along with our baseline data, follow:
GREENHOUSE GAS (GHG) EMISSIONS
The below GHG emissions figures include global, companywide manufacturing and R&D facilities and exclude administrative offices.
For context, we are providing company wide site Scope 1, Scope 2 and 
Total GHG emissions as a factor of Phibro’s total revenue, for a year-on-
year comparison that accounts for the company’s growth trajectory (the 
“Intensity Score”). As a company that manufactures the majority of our 
own products, Phibro management believes the Intensity Score is the 
best measure of our relative metrics and is a preferred metric among 
some in our peer group in the context of our GHG, energy management, 
water management and waste management. While the absolute 
measurements in these categories may go up or down year to year, 
we believe that when divided by our annual revenue, these scores will 
help make annual comparisons more meaningful, and better reflect the 
results of our efforts in these areas. 
CODE
TOPIC
DATA
SASB FB-MP-110a. 1
Greenhouse Gas Emissions:  
Gross global Scope 1 
emissions
2021         2020      2019
                  25,387     23,341   23,253 Metric Tons CO2
2021
2020
2019
Revenue in Millions
$879
$798
$813
GHG Scope 1 (MT CO2)
 25,387
23,341
23,253
GHG Scope 2 (MT CO2)
14,999
14,420
13,885
Total GHG (MT CO2)
40,386
37,760
37,138
Intensity Score per  
$1 Million in Revenue
46
47
46
Note: Revenue in the tables above reflects calendar year 
revenues, in millions of U.S. dollars.
Phibro uses an “intensity score” based on the “intensity ratio” concept defined by Global Reporting Initiative (GRI) Guidelines. The intensity scores shown here are intended to normalize environmental impact 
data by defining the metric in the context of Phibro’s annual revenue. The intensity score is calculated by dividing the absolute environmental metric (the numerator) by annual revenue (the denominator). In 
combination with Phibro’s absolute environmental impact data, the intensity scores helps to contextualize the organization’s efficiency and track progress by improving year to year comparability.

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ENERGY MANAGEMENT
CODE
TOPIC
DATA
SASB FB-MP-130a. 1
Energy Management:  
1 Total energy consumed, 
2 percentage grid electricity,
3 percentage renewable
   2021               2020            2019
885,179         857,611       857,836   Total energy consumed
  49.4%             50.1%          48.9%     Percentage grid electricity
    .5%                  N/A              .N/A         Percentage renewable
2021
2020
2019
Revenue in Millions
$879
$798
$813
Energy in Gigajoules (GJ)
885,179
857,611
857,836
Intensity Score per  
$1 Million in Revenue
1,007
1,097
1,055
For context, we are providing companywide  
Total Energy Consumed as a factor of  
Phibro’s total revenue, the Intensity Score.  
The below figures include global, 
companywide manufacturing and R&D 
facilities and exclude administrative offices.
ENERGY SOURCING 
Sources of Purchased Electricity for  
Manufacturing Facilities
2021
2020
2019
Renewable-Solar
0.9%
1.1%
0.8%
Renewable-Wind
7.0%
7.1%
6.7%
Renewable-Hydroelectric
42.0%
43.0%
43.0%
Nuclear
3.0%
4.1%
2.7%
Geothermal
0.1%
0.1%
0.1%
Biomass
5.4%
6.0%
6.0%
Non-renewable
41.6%
38.6%
40.7%
Note: Many of Phibro’s manufacturing facilities are located in areas with strong access to  
renewable-sourced electricity. As a result, greater than 50% of Phibro’s 3rd party sourced  
electricity needs for manufacturing are from green or renewable sources.
WATER MANAGEMENT
2021
2020
2019
Revenue in Millions
$879
$798
$813
Total Water Withdrawn (M3)
1,074,459
862,995
841,698
Intensity Score per  
$1 Million in Revenue
1,222
1,081
1,035
Total Water Discharge (M3)
435,283
513,019
496,173
Intensity Score per  
$1 Million in Revenue
495
665
610
For context, we are providing companywide Total Water Withdrawn 
in cubic meters (M3) and Total Water Discharged in cubic meters 
as a factor of Phibro’s total revenue, the Intensity Score. The below 
figures include global, companywide manufacturing and R&D 
facilities and exclude administrative offices.

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WASTE AND HAZARDOUS SUBSTANCE  
MANAGEMENT
CODE
TOPIC
DATA
GRI 306-2
Waste: 
a) Actions, including circularity measures, 
taken to prevent waste generation in 
the organization’s own activities and 
upstream and downstream in its value 
chain, and to manage significant impacts 
from waste generated. b) If the waste 
generated by the organization in its 
own activities is managed by a third 
party, a description of the processes 
used to determine whether the third 
party manages the waste in line with 
contractual or legislative obligations.
c) The processes used to collect and 
monitor waste-related data.
In accordance with Phibro’s Waste 
Management Policy, minimizing waste is an 
ongoing practice at all our facilities driven 
by cost and/or sustainability. Most of our 
facilities have recycling best practices in place 
for pallets, plastics, cardboard, etc. Certain 
facilities reuse yield from dust collectors 
into new batches. Certain facilities that 
have hazardous waste practice substitution 
of hazardous chemicals, as well as waste 
minimization. Certain facilities work on larger 
scale projects. For example, Phibro Brazil’s 
Braganca Paulista location eliminated 90% of 
its methanol and ammonium sulfate waste.
For context, we are providing companywide 
total amounts of Hazardous Waste,  
Non-Hazardous Waste and Recycling in 
metric tons (MT) as a factor of Phibro’s 
total revenue, the Intensity Score. The 
below figures include global, companywide 
manufacturing and R&D facilities and exclude 
administrative offices.
2021
2020
2019
Revenue in Millions
$879
$798
$813
Hazardous Waste (MT)
9,852
12,333
13,137
Intensity Score per  
$1 Million in Revenue
11.2
14.5
16.1
Non-Hazardous Waste (MT)
13,459
15,575
17,505
Intensity Score per  
$1 Million in Revenue
15.3
19.5
21.5
Recycling Quantities (MT)
22,924
20,562
21,012
Intensity Score per  
$1 Million in Revenue
26
26
26

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4.0 
SOCIAL RESPONSIBILITY  
AND WELL-BEING
Phibro employees are our greatest strength 
and most valuable asset. When we equip 
team members to apply their skills, talent and 
passions to contribute and make a positive 
impact, everyone succeeds. When we thrive 
as individuals and teams, Phibro thrives.
Working closely together, our human resource 
team has recently implemented a global  
cloud-based HR Information System (HRIS). 
We are standardizing and advancing our 
Diversity, Equity and Inclusion (DEI) and 
training and development initiatives. Fiscal 
year 2022 is a significant year for strategic 
planning to enhance our approach to DEI, and 
we look forward to rolling out new programs 
in the coming year.
As of December 31, 2021, we employed more 
than 1,700 people in 55 locations spanning 
26 countries. To attract and retain the highest-
caliber employees, we provide competitive 
compensation and benefit programs, 
comprehensive training and development 
programs, health and safety 
initiatives, and work environments  
conducive to success. Employee safety  
is paramount. We have and will continue  
to take the necessary daily precautions  
that comply with Phibro’s global safety 
guidelines and standards recommended  
by local government authorities to keep our 
employees safe.
CULTIVATING  
ONE LEADER AT A TIME
Phibro’s proprietary Leadership Model guides how our people plan and  
act to advance company priorities. Each executive/manager/employee:
• Sees what needs to be done (Strategy, Vision, Growth)
• Gets it done (Execution)
• Gets it done the right way (How you do it)
Recognizing that leadership is exhibited differently by an individual 
contributor versus a first-line manager versus an upper-level manager,  
all Phibro employees are consistently expected to demonstrate 
leadership behaviors.
VISIONARY
INNOVATIVE
ADAPTABLE
DRIVEN
ACCOUNTABLE
COMMITTED
TALENT
BUILDER
LEADER
COLLABORATIVE
TRUSTWORTHY
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 t
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24

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OUR PEOPLE: 
Talent development is a strategic priority 
at Phibro, and we offer opportunities for 
growth at all levels of the company. Our goal 
is to ensure we have the right colleagues 
with the right skills in the right roles with 
the appropriate support to build leadership 
capabilities and drive organizational results.
As business priorities evolve and we seek to 
innovate, we work to nurture and develop 
current talent to best serve future needs. We 
take a programmatic and focused approach to 
developing our people, which includes annual 
performance reviews and regular coaching 
and feedback rooted in our Leadership Model. 
The Leadership Model provides the framework 
for all of our processes to attract, retain and 
motivate employees. It outlines a shared 
vision of aspirations as leaders and provides a 
common way to talk about leadership.
A relatively new addition to our retention 
arsenal is a “talent profile” in our HRIS that 
employees complete to provide visibility 
into professional background, education, 
skills, certifications, interests and desire to 
travel or relocate. This supports succession 
planning and career path discussions between 
managers and employees.
In addition to traditional professional 
development, we offer a robust, cloud-based 
online training curriculum from Precipio™, 
one of the leading providers of development 
material for learning-focused organizations. 
In 2021, our employees engaged the platform 
over 1,400 times to access various media, 
including e-courses, book recommendations, 
job aids and videos.
A new mentoring program helps colleagues 
succeed and advance through enhanced 
business acumen, heightened self-awareness 
and constructive feedback. Our pilot program 
consisted of participants from all of Phibro’s 
global regions. 
ROAD  
TO ZERO — 
EMPLOYEE-DRIVEN 
IMPROVEMENT IN 
SAFETY, QUALITY  
& PERFORMANCE 
Launched in 2017, Road to  
Zero utilizes teaming concepts to  
elevate employee involvement in  
project-based improvement activities.
Participation drives a strong culture 
of safety and quality. Road to 
Zero provides a formal system for 
engagement, shared responsibility, 
leadership opportunities,  
meaningful contributions and 
accountability.
LIVING PHIBRO’S MISSION, PURPOSE & BELIEFS

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OUR CULTURE: 
SURVEY SAYS, HIGH 
PERFORMING ORGANIZATION
We nurture a strong culture where team 
members are empowered and have 
opportunities for growth and development. 
The Denison Organizational Culture survey 
was administered to all employees globally in 
2017 and 2021, with a 75 percent response 
rate each time. The survey assessed: 
• Mission (Do we know and communicate 
where we are going?)
• Consistency (Do our systems create 
leverage?)
• Involvement (Are our employees aligned  
and engaged?)
• Adaptability (Are we listening to the 
marketplace?)
FINDINGS SHOW:
• Employees are committed to the 
organization, feel a strong personal 
connection to Phibro and recommend  
it as a good place to work.
• Employees feel they are appropriately 
involved in ongoing business planning and 
decision-making and feel they can have a 
positive impact.
• We have strong values that guide how we do 
business.
• People across the business share a common 
perspective, and there is a clear sense of the 
right way to do things.
• There is a high level of trust in leadership to 
make sound business decisions.
Phibro employee engagement and commitment 
scores remained consistent in 2017 and 2021 
at 82 percent favorable for engagement and 
76 percent favorable for commitment. We are 
intently focused on maintaining these results 
across the organization.
EMPLOYEE 
RETIREMENT 
READINESS, BY  
THE NUMBERS
We are proud to offer competitive and 
comprehensive healthcare and retirement 
savings benefits to our  U.S. and international 
colleagues. In the U.S., according to Phibro’s 
401k plan administrator, our employees are 
well-situated regarding plan participation 
rates and overall retirement readiness as of 
December 31, 2021:
• Of the 690 employees eligible to participate 
in the 401K plan representing 38 percent of 
our global employee population, we have a 
94 percent active participation rate versus 
a same-size peer company average of 78 
percent.
Of those who chose to participate in  
the 401k plan:
• 90 percent of the participants are achieving 
a 10 percent saving rate, which includes 
both employee and employer contributions, 
versus a same-size peer company average 
of 48 percent. 
• Participants are achieving an annual 
average employee dollar contribution 
amount of $9,166 versus a same-size peer 
company average of $7,183.
OUTSIDE OF THE U.S., 
WE OFFER:
•  Our 437 employees in Israel, representing  
25 percent of our global employee population, 
retirement bonus programs, as well as 
financial assistance in planning for retirement.
•  Our 406 employees in Brazil, representing  
23 percent of our global employee population, 
social security contributions of 20 percent 
equivalent to 20 percent of an employee’s 
annual salary, as well as a pension plan to 
participate in, to which the company makes 
additional contributions.
• Other international employees retirement 
benefits at the local level, based on legal  
and market requirement practices.

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OUR 
COMMUNITIES:  
MAKING AN IMPACT
We are proud of the long tenure of many of 
our employees, reflecting that Phibro takes 
care of its employees, their families and the 
communities in which we operate.  
For example, Phibro-Brazil employees are 
highly involved in Making a Difference, a  
local initiative. Annual events include the  
Warm Campaign, which generates  
donations of blankets, clothes, food, toys 
and sporting equipment for underprivileged 
children, as well as entrepreneurship 
workshops (crafts, cooking) to develop income 
sources for low-income families. 
They also support a community 
garden, donate company 
computers to teenagers 
and host a literary picnic 
where employees read 
books to children.
WEATHERING A PANDEMIC:  
IT TAKES A VILLAGE
As Phibro was classified a critical business during the COVID-19 pandemic, 
we kept our plants operating on a regular basis. To maintain a safe work 
environment, multiple initiatives were implemented such as: distribution 
of masks, implementation of mask use requirements, temperature check 
at entry gates, reduction in cafeteria operations to 50 percent of capacity 
and installation of physical barriers for the tables, improved communication 
regarding social distancing and other public health measures, and additional 
hand sanitizer stations.
In Brazil, Phibro provided thermometers, sanitizing solutions, masks and 
oximeters to local hospitals through a Phibro corporate donation of $20,000 
USD to each plant in Brazil, Guarulhos and Bragança Paulista. The level of 
poverty in Brazil increased significantly due to the pandemic, and the  
Making a Difference project responded with more than 500 baskets  
of food donated to local communities.
In other communities globally where our plants are located, Phibro  
donated both cash and material contributions to provide general  
crisis support to community hospitals, food pantries and schools.

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OUR PRODUCTS: 
 
One Health is an integrated, unifying approach 
that aims to sustainably balance and optimize 
the health of people, animals and ecosystems.
Improving animal health through optimal 
nutrition, vaccines and medication accelerates 
the journey toward more sustainable food 
systems. Poor health and welfare in animals 
limit their potential, representing a missed 
opportunity to produce more food and 
build a more resilient livelihood for farmers. 
Farmers with healthy herds use less feed, 
water, medicine and land. Healthy animals 
that receive proper nutrition are better able 
to digest feed and use resources efficiently. 
Protecting animals against infection reduces 
the need for antibiotics and the risk of cross-
species illness.
Growth on both sides of the equality divide 
places unprecedented pressure on animal 
agriculture to provide more safe, nutritious and 
affordable meat, milk, fish and eggs. 
More than one billion people worldwide earn 
a living through raising and selling livestock, 
while billions more depend on the protein and 
nutrients provided by animal-sourced foods. 
Rising populations in developing regions 
indicate demand for animal proteins will grow 
in the next decade, even if consumption falls in 
some developed nations.
In many parts of the world, livestock are 
healthier and more productive than ever 
before, but we believe the global loss of one 
in every five animals to disease is too high a 
price for society to bear. This is what drives  
Phibro’s scientists on multiple continents  
to continue to explore new 
preventive medicine 
approaches, more 
economical and 
practical vaccine 
formats, and 
advanced disease 
remediation 
strategies.
STEPPING  
UP FOR OUR 
INTERNATIONAL 
NEIGHBORS  
IN CRISIS
Humanitarian aid has been in high demand 
as Ukraine faces mounting casualties, 
property destruction and economic 
hardship, in light of the Russain military 
invasion. We encouraged employees to 
help provide assistance to those in need, 
consistent with our corporate values and in 
recognition of the employees with relatives 
in Ukraine. Phibro matched $50,000 USD in 
donations made by employees around the 
world to designated relief organizations. In 
addition, an outside resource was hired 
to work with employees who have 
family in the conflict zone to facilitate 
access to agencies that can provide 
on-the-ground support.
THE “ONE HEALTH” APPROACH IN ACTION

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OUR RESEARCH:  
TAKING THE 3Rs TO HEART
At Phibro, we deliver innovation that we 
believe improves the health of animals, the 
livelihood of people who care for animals and 
the planet we inhabit together. Our animal 
welfare policy describes the responsibilities, 
guiding principles and philosophy associated 
with research conducted by Phibro. The 
guiding philosophy is our commitment to the 
3Rs – refining, reducing and replacing animals 
in research where possible. Our goal is to
maintain the highest moral and ethical 
standards for the care and treatment of
animals to minimize discomfort and pain. 
(FB-FR-430a.3) 
BREAKTHROUGH  
IN VACCINE DELIVERY
Phibro’s pHi-Tech® poultry vaccination management system is a safer,  
more accurate and efficient way to administer vaccines as compared to 
other traditional methods. pHi-Tech empowers farm owners and animal 
caretakers to control the vaccination process through cloud-and app-based 
tracking that supports state-of-the-art precision livestock farming.
This hand-held device is currently available for poultry and will soon be 
available for aquaculture. 
STRENGTH THROUGH 
DIVERSITY
Phibro creates a positive and supportive work 
environment for our employees. Our approach 
enables opportunity for inclusion and 
encourages diverse perspectives and thinking 
to maximize the achievement of innovative 
and successful outcomes. We aim to protect 
employees from being discriminated against 
because of gender, sexual orientation, age, 
marital status, race, religion, political beliefs, 
ethnic background, country of origin, language 
or non-job-related disabilities, and we follow 
these same principles when recruiting new 
talent to our organization.
We recognize our success in the marketplace 
is directly related to the trust that we place in 
and receive from our employees. We promote 
from within wherever possible, safeguard the 
confidentiality of employee records and keep 
employees informed of issues affecting them.
In response to the findings of our recent 
culture survey, Phibro implemented a new 
DEI training program to foster awareness and 
acceptance across our administration, R&D 
and manufacturing facilities in 2022.

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The potential for increased bacterial resistance 
to certain antibiotics used in some  
food-producing animals is the subject of 
worldwide discussions. In certain instances, 
resistance concerns have led to government 
restrictions on the use of antibiotics in these 
food-producing animals.  
Phibro works closely with regulators and 
veterinarians to ensure antibiotics are 
used responsibly and in compliance with 
all applicable regulations and regulatory 
guidance, to minimize the risk of resistance 
development.
As a company dedicated to the health and 
welfare of animals, we believe healthy animals 
are key to solving some of the world’s most 
pressing issues. We are focused on best 
animal welfare practices around the world, and 
we believe the responsible use of antibiotics 
is one important component to prevent and/or 
relieve animal suffering.
Phibro provides innovative solutions to help 
reduce the need for antibiotics by providing 
other medications, vaccines and nutritional 
specialty products, which improve intestinal 
integrity and support immune function.  
These products help improve overall animal 
health and aid in controlling bacterial 
infections, viruses and other organisms that 
can cause sickness.
(FB-FR-430a.3)
ASK DR. DORMAN: 
INSIGHT FROM A 
VETERINARIAN & MOM
Dr. Leah Dorman is a respected veterinarian, 
farmer and mother of three children, 
committed to an honest dialogue about 
animal health issues. She takes seriously her 
oath to protect animal health and promote 
human health, which she does every day 
as Phibro’s Director of Communication 
and Consumer Engagement. Dr. Dorman 
describes herself as a “tell it like it is” type 
of person who advocates for transparency 
and open communications throughout the 
agricultural sector and food system. She 
welcomes questions from the public 
at AskDrDorman@pahc.com, and 
her responses are published on the 
ExploreAnimalHealth.org website 
where visitors can explore how farm 
animal care connects to a healthy 
food supply and environment.
OUR RESPONSIBILITY 
ANTIBIOTIC STEWARDSHIP

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ELEVATING THE 
CUSTOMER EXPERIENCE  
PHIBRO EMPLOYEES DELIVER 
EXPERTISE ALONG WITH PRODUCT 
PORTFOLIO  
Within Phibro’s Animal Health and Mineral Nutrition 
segments, more than 400 employees in sales,  
marketing and technical support roles deliver our 
portfolio of more than 1,600 products to livestock 
producers and veterinarians in more than 80 countries. 
We interact with customers at the corporate level where 
applicable, and on-premises at farms, ranches and 
aquaculture sites, fostering an in-depth understanding 
of their needs.  
Our technical support and research personnel are also 
important contributors to our customers’ success. 
We have a total of approximately 220 technical, field 
service and quality control/quality assurance personnel 
throughout the world. Among our field team, many have 
more than 20 years of experience in animal health, and 
many have been with Phibro for more than 10 years. 
These professionals interface directly with customers 
to provide practical solutions and ensure they achieve 
optimum benefits from our products.
PHIBRO PROUD:  
OSHA REPORTABLE INCIDENT RATE  
AVERAGES 60% LOWER THAN PEERS IN  
GENERAL MANUFACTURING SECTOR 
We are committed to manufacturing safe products and achieving a 
safe workplace. Our Environmental Health and Safety (EHS) Global 
Director, along with regional and site-based EHS professionals, manage 
environmental, health and safety matters throughout Phibro. The 
site managers are responsible for implementing the established EHS 
controls. To protect employees, we have established health and safety 
policies, programs and processes at all manufacturing sites. External 
EHS audits are performed as needed.

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KEY PRIORITIES  
AND PROGRESS
Based on Phibro’s Materiality Assessment, we 
plan to track and report our progress against the 
following Social Responsibility & Well-Being topics 
on a go-forward basis: Employee Recruitment, 
Development & Retention, Diversity, Equity & 
Inclusion (DEI), Employee Health & Safety, Labor 
Practices, Cybersecurity & Privacy and Customer 
Engagement & Welfare. Relevant SASB and GRI 
metrics along with our baseline data follow:
CODE
TOPIC
DATA
Phibro metric
Employee Training:  
Number of training hours completed per employee
2021 Avg Hours: 40
SASB HC-BP-330a.1
Employee Recruitment, Development, & Retention: 
Discussion of talent recruitment and retention efforts for 
scientists and research and development personnel
Phibro recruiting efforts for specialized roles in R&D utilizes search 
firms that focus on relevant scientific areas. In addition, we rely on 
professional and university networks of existing scientific personnel to 
identify candidates. When qualified candidates are identified, we provide 
relocation assistance, immigration assistance if necessary and/or other 
support.
EMPLOYEE RECRUITMENT, DEVELOPMENT & RETENTION

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EMPLOYEE RECRUITMENT, DEVELOPMENT & RETENTION
CODE
TOPIC
DATA
SASB HC-BP-330a.2
Employee Recruitment, 
Development, & Retention:  
1) Voluntary and  
2) involuntary turnover rate for: 
   a) executives/senior managers, 
   b) mid-level managers, 
   c) professionals, and 
   d) all others
SASB: HC-BP-330A.2
2020 TURNOVER
Voluntary
Rate
Involuntary
Rate
Executive
2
0.1%
2
0.1%
Sr. Dir/Dir
4
0.2%
8
0.5%
Mid-level Mgr
16
0.9%
11
0.6%
Supervisor/Prof
49
2.8%
15
0.8%
Entry/intermediate
88
5.0%
50
2.8%
Total
159
9.0%
86
4.9%
SASB: HC-BP-330A.2
2021 TURNOVER
Voluntary
Rate
Involuntary
Rate
Executive
4
0.2%
2
0.1%
Sr. Dir/Dir
8
0.5%
3
0.2%
Mid-level Mgr
21
1.2%
7
0.4%
Supervisor/Prof
49
2.8%
21
1.2%
Entry/intermediate
120
6.8%
61
3.4%
Total
202
11.4%
94
5.3%

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EMPLOYEE RECRUITMENT, DEVELOPMENT & RETENTION
CODE
TOPIC
DATA
GRI 201-3
Economic Performance: 
a) If the plan’s liabilities are met by the organization’s general 
resources, the estimated value of those liabilities. b) If a 
separate fund exists to pay the plan’s pension liabilities: i) 
the extent to which the scheme’s liabilities are estimated to 
be covered by the assets that have been set aside to meet 
them; ii) the basis on which that estimate has been arrived at; 
iii) when that estimate was made. c) If a fund set up to pay 
the plan’s pension liabilities is not fully covered, explain the 
strategy, if any, adopted by the employer to work towards full 
coverage, and the timescale, if any, by which the employer 
hopes to achieve full coverage. d) Percentage of salary 
contributed by employee or employer. e) Level of participation 
in retirement plans, such as participation in mandatory or 
voluntary schemes, regional, or country-based schemes, or 
those with financial impact.
In the U.S.: 
a) As of June 30, 2021, the U.S. pension plan was 103% funded.
b) We have assets managed by a third-party advisor (New England 
Pension Consultants or NEPC for short) that invests in multiple funds, 
but it is generally one overall portfolio. The assets are measured at 
Fair Value. The liability is measured by our actuary (AON) with the 
difference being recorded on the balance sheet. Currently our plan is 
103% funded, so we have an asset on our books for the overfunding. 
The asset or liability is calculated on an annual basis (June 30). There 
are several factors that go in the estimate of the liability (mortality rate, 
return on assets, etc.). In order to pay plan participants, our advisor 
(NEPC) sells investments to generate the cash on an as needed basis.
c) N/A
d) Employer contribution percentage is under the Company’s 401(k) 
plan is 100% of up to the first 6% of employees’ contributions. That 
contribution amount is for the 401K Plan, not the pension plan. For the 
Pension Plan, the company makes the required contributions based on 
the actuarial analysis. 
e) The pension plan is currently frozen. No new employees have been 
eligible for the pension plan since January 1, 2014 (as disclosed 
in our Annual Report). There are currently 626 active and inactive 
participants. Under the 401K plan offered to U.S. employees, we have 
a 93% active participation rate.
Outside the U.S., Phibro offers retirement benefits at the local level, based 
on legal and market requirement practices. 
GRI 202-2
Market Presence:  
Proportion of senior management hired from the local 
community. a) Percentage of senior management at 
significant locations of operation that are hired from the local 
community. b) The definition used for ‘senior management’. 
c) The organization’s geographical definition of ‘local’. d) The 
definition used for ‘significant locations of operation’
All (100%) from local community. Recruiting for all positions utilizes a mix 
of platforms to include posting vacancies on corporate careers webpage, 
recruiting platforms such as Indeed and LinkedIn as well as professional 
networking career sites. For executive level positions we utilize retained 
search firms to assist with candidate identification. Our recruitment 
geography for roles is focused on the local communities near our site 
locations. It is not our practice to relocate employees globally.
GRI 401-2
Employment:  
a) Benefits which are standard for full-time employees of the 
organization but are not provided to temporary or part-time 
employees, by significant locations of operation. These include, 
as a minimum: i) life insurance; ii) health care; iii) disability and 
invalidity coverage; iv) parental leave; v) retirement provision; 
vi) stock ownership; vii)  others. b) The definition used for 
‘significant locations of operation’
Significant area of operation: U.S.
Benefits are provided to employees who work at least 30 hours each 
week. These benefits include life insurance, health care (including dental, 
and vision), short- and long-term disability insurance, accidental death 
and dismemberment insurance, travel assistance, retirement savings and 
pension plans and paid time off.

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2021
NONPRODUCTION 
GENDER GROUP 
BY LEVEL
PHIBRO VALUES DIVERSITY,  
EQUITY AND INCLUSION (DEI) 
5+8+14+30+43
3% Mid-Level Manager
22% Professionals
16% Other colleagues
2+3+22+16+57
n = 1,075
*Note: Production line item shown here includes
 manufacturing, warehousing, and maintenance.
57+43
4
3
%
 
W
O
M
E
N
	
	
	
 
 
 
 
 
 
 
 
 
 
 
 
5
7
%
 
M
E
N
FEMALE 
GENDER BY 
POSITION
2% Exec/Sr. Manager
MALE  
GENDER BY 
POSITION
8% Mid-Level Manager
5% Exec/Sr. Manager
30% Professionals
14% Other colleagues
Female
Male
Production
10%
90%
Nonproduction
43%
57%
Grand Total
30%
70%

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18% Latin America & Canada
2021 
NONPRODUCTION  
GENDER GROUP 
BY REGION
n = 1,075  
57+43
4
3
%
 
W
O
M
E
N
	
	
	
 
 
 
 
 
 
 
 
 
 
 
 
5
7
%
 
M
E
N
4+11+18+24+43
11% Europe, Middle East & Africa
4% Asia Pacific 
MALE  
GENDER BY 
REGION
24% United States
2+11+15+15+57
PHIBRO VALUES DIVERSITY,  
EQUITY AND INCLUSION (DEI) 
FEMALE 
GENDER BY 
REGION
2% Asia Pacific
11% Latin America & Canada 
15% Europe, Middle East & Africa
15% United States

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PHIBRO VALUES DIVERSITY,  
EQUITY AND INCLUSION (DEI) 
2021
ETHNIC GROUP USA 
REPRESENTATION
U.S. All Levels by Ethnicity
Count
% of Total
White
499
75%
Hispanic or Latinx
94
14%
Black or African American
31
5%
Asian
25
4%
Two or More Races
15
2%
American Indian or Alaska Native
4
1%
Total
668
100%
U.S. Management Level by Ethnicity
Count
% of Total
White
159
83%
Hispanic or Latinx
16
8%
Black or African American
3
2%
Asian
13
7%
Two or More Races
1
1%
American Indian or Alaska Native
0
0%
Total
192
100%
n = 668

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EMPLOYEE HEALTH & SAFETY
CODE
TOPIC
DATA
GRI 403-1
Occupational Health & Safety:  
a) A statement of whether an occupational health and safety 
management system has been implemented, including 
whether: i) the system has been implemented because of 
legal requirements and, if so, a list of the requirements; ii) 
the system has been implemented based on recognized 
risk management and/or management system standards/
guidelines and, if so, a list of the standards/guidelines. b) A 
description of the scope of workers, activities, and workplaces 
covered by the occupational health and safety management 
system, and an explanation of whether and, if so, why any 
workers, activities, or workplaces are not covered
There are no specific legal EH&S System requirements for Phibro or 
requirements by any specific industry other than requirements by OSHA, EPA, 
DOT and other federal and local laws. However, Phibro has a management 
system in place which includes over 30 EH&S policies that integrate all of our 
facilities despite their location internationally. Phibro Corporate policies serve as 
an umbrella for all our sites, but each site has site specific adjustments based 
on their local laws. List of EH&S Programs and Policies that are maintained 
and updated periodically (they are also available on our intranet site). These 
documents drive our EH&S Management system and cover all our employees: 
factory, offices, sales, fleet, labs as well as employees working remotely.
Phibro Corporate Programs
• EH&S Management System
• Management of Safety Data Sheets  
& Formulations
• Internal and External Audits
• Employee Participation
• Hazardous Communication
• Waste Management
• Job Hazard Analysis
• Fleet Safety
• Sustainability
• Industrial Hygiene
• Hazardous Materials  
Transportation 
• Ergonomics
• Biosafety Program
• Armed Intruder Policy
 
Phibro Corporate Policies
• Incident Communication
• Forklift 
• Ladder Safety
• Hot Work 
• Lock Out and Tag Out
• Bloodborne Pathogens
• Emergency Response
• Laboratory Safety
• Contractor Safety
• Fire Extinguisher 
• Fall Protection
• Machine Guarding
• Confined Space
• Compressed Gas Cylinders 
• Automated External Defibrillators
• General Safe Work Practices
• Respiratory Protection 
• Personal Protective Equipment
• Incident Reporting
• Hearing Conservation 
• Electrical Safety Procedures
• Slips, Trips, and Falls
• First Aid
• Safety Showers & Eye Wash
• Workers Compensation
• Cold Stress Prevention Program
• Heat Stress Prevention Program
• Pathogen Positive Test Result  
Response Plan
Phibro Corporate Forms
• Phibro Incident Communication  
Policy Checklist
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EMPLOYEE HEALTH & SAFETY
CODE
TOPIC
DATA
FB-MP-320a.1
Workforce Health & Safety:  
1) Total recordable incident rate (TRIR) and  
2) fatality rate
1) 2021: 1.14, 2020: 0.57, 2019: 1.66
2) 0
FB-MP-320a.2
Workforce Health & Safety:  
Description of efforts to assess, monitor, and mitigate acute 
and chronic respiratory health conditions
Phibro takes the respiratory health condition of its employees and air 
quality of all its facilities very seriously. To ensure the respiratory safety of 
our employees we have developed and implemented two main policies 
(Industrial Hygiene and Respiratory Protection). These policies help 
drive a program that supports periodic evaluations, training, engineering 
controls, PPE and administrative support all in an effort to mitigate acute 
and chronic respiratory health conditions.
GRI 403-3
Occupational Health & Safety:  
A description of the occupational health services’ functions 
that contribute to the identification and elimination of 
hazards and minimization of risks, and an explanation of how 
the organization ensures the quality of these services and 
facilitates workers’ access to them.
We have a number of policies to ensure that employees have the health 
service function needed to support them in their daily work. We have 
policies that provide EH&S Training. Programs that provide participation 
and incentives. We have agreements with local occupational doctors and 
therapy centers to prevent small injuries from becoming bigger issues. 
Our site EH&S Managers along with the Global Director of EH&S meet 
monthly to discuss an evaluate the over EH&S program. We look at the 
data such as OSHA Incident Rate, workers’ compensation claims, fleet 
safety claims, types of injuries. Depending on our evaluation we adjust 
our program or target initiatives to improve the program. We have a clear 
EH&S Goal to maintain every year and we work to meet that goal.
GRI 403-4
Occupational Health & Safety:  
a) A description of the processes for worker participation 
and consultation in the development, implementation, and 
evaluation of the occupational health and safety management 
system, and for providing access to and communicating 
relevant information on occupational health and safety 
to workers. b) Where formal joint management–worker 
health and safety committees exist, a description of their 
responsibilities, meeting frequency, decision-making authority, 
and whether and, if so, why any workers are not represented 
by these committees
Employee engagement, involvement and participation in occupational 
health and safety is a priority for Phibro. We understand that without 
employee buy in for a good safety culture it would be impossible to run 
a healthy EH&S program. Therefore, we have a specific policy that was 
implemented over a decade ago. Where all facilities are asked to include 
employees in their EH&S programs by participation in EH&S Committees, 
First Aid Teams, regular safety programs and other community type 
safety outreach programs like training with the local fire departments. 
There are incentives programs as well and suggestion boxes for safety 
program improvements.

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LABOR PRACTICES
CODE
TOPIC
DATA
SASB FB-FR-310a.1
Labor Practices: 
1) Average hourly wage and 
2) percentage of in-store and distribution center employees 
earning minimum wage, by region
Hourly Wage of production employees:
Brazil: Not meaningful; only apprentices paid hourly 
Israel: 62.43 ILS
US: $21.47
Note: Part 2 does not apply to Phibro employees.
SASB FB-FR-310a.2
Labor Practices:  
Percentage of active workforce covered under collective 
bargaining agreements
Argentina: 28%
Brazil: 100%
EU: 11%
Israel: 63%
US: 0%
SASB FB-FR-310a.3
Labor Practices:  
1) Number of work stoppages and  
2) total days idle
1) 0
2) 0
SASB FB-FR-310a.4
Labor Practices:  
Total amount of monetary losses as a result of legal 
proceedings associated with:  
1) labor law violations and 
2) employment discrimination
1) None
2) None

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CYBERSECURITY & PRIVACY
CODE
TOPIC
DATA
SASB FB-FR-230a.2 
Data Security:  
Description of approach to identifying and addressing data 
security risks
Phibro has documented policies as it relates to IT and Cybersecurity, 
developed in collaboration with HR and Legal. Data security and privacy 
are significant priorities and tools are in place to ensure the safety and 
well-being of client, employee and company information. Encryption 
and the latest zero-trust network protection technology inspects each 
electronic transaction for corruption and/or cyberattacks. 
Phibro employees are continuously trained and tested for cybersecurity 
awareness. Multi-factor authentication and active threat protection 
software further protect company devices and email from cyberattacks 
such as malware, phishing and ransomware. Quality compliance software 
allows Phibro to electronically sign, protect and store key documents, 
manage corporate policy and regulatory documents, standardize change 
control processes, track deviations and Corrective and Preventive Actions 
(CAPA) and ensure appropriate approval before changes are activated.
Phibro actively uses established processes for backup and recovery of all 
on-premises and cloud-based systems and data. A global disaster and 
recovery program focused on our plants will be tested and completed in 
2022. Phibro strives to demonstrate an effective, risk-based approach to 
assure cybersecurity and protect confidential information.

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CUSTOMER ENGAGEMENT & WELFARE
CODE
TOPIC
DATA
SASB FB-FR-260a.1
Product Health & Nutrition:  
Revenue from products labeled and/or marketed to promote 
health and nutrition attributes
 2021            2020
$809M        $738M 
SASB FB-FR-260a.2
Product Health & Nutrition:  
Discussion of the process to identify and manage products 
and ingredients related to nutritional and health concerns 
among consumers
Our food animal products must be safe not only for the animals 
themselves but must also be safe for people who consume meat,  
milk, seafood and eggs that come from those animals.

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5.0 
FAIR AND TRANSPARENT GOVERNANCE
Our Mission, Purpose and Beliefs guide the 
way we work at every level. A strong system 
of corporate governance and an ethical 
compass that cascades from the Phibro 
Board of Directors to every level of Phibro are 
critical to delivering long-term value for our 
shareholders, customers and society. 
Phibro Animal Health Corporation and 
our Board of Directors are committed 
to implementing sound and transparent 
corporate governance principles that 
strengthen accountability, oversight and 
alignment with our key stakeholders. 
Phibro is a “controlled company” under the 
Nasdaq stock market (“Nasdaq”) corporate 
governance standards. For details on 
this designation and other aspects of our 
governance, see our 2021 Proxy Statement, 
filed with the SEC.
Among its primary responsibilities, the Board 
oversees our strategic and business planning 
processes, monitors corporate performance, 
and assesses the integrity and effectiveness of 
our internal controls, legal procedures, ethics 
and compliance programs. Beyond these 
core responsibilities, the Board is responsible 
for establishing and maintaining an effective 
leadership structure for the Company, as well 
as overseeing the executive management team.
BUSINESS  
ETHICS IN ACTION  
Phibro’s Code of Business Conduct and Ethics (Code of Conduct), which contains 
guidelines for conducting business with the highest standards of ethics, is available 
publicly and translated into the eight languages our employees most commonly speak. 
Every employee is expected to review and acknowledge the Code of Conduct annually 
moving forward. Code of Conduct training is provided annually with an 85 percent 
compliance rate. In addition to the Code of Conduct, Phibro has corporate policies 
and procedures across 25 different categories, public company policies across seven 
categories and two categories of privacy policy. 
We are committed to being an organization where open, honest communications are the 
expectation, not the exception. All employees should feel comfortable approaching their 
supervisor or management in instances where they feel violations of policies or standards 
have occurred. In situations where employees prefer to place an anonymous report in 
confidence, they are encouraged to use our ethics hotline, EthicsPoint, hosted by a  
third-party hotline provider.
The ethics hotline is not exclusive to employees as the Board of Directors maintains a 
system for shareholder, customer, supplier or other interested parties to anonymously 
submit concerns via email or postal mail. 
43

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Our Board of Directors has two standing 
committees: an Audit Committee and a 
Compensation Committee. Each of the 
committees reports to the Board of Directors 
as they deem appropriate, and as the Board 
of Directors may request. In the future, 
our Board of Directors may establish other 
committees, as it deems appropriate, to assist 
with its responsibilities. Each committee 
has adopted formal charters that detail their 
purpose, organizational structure and key 
responsibilities. 
Diversity and inclusion are priorities for the 
Company and are believed to be important 
aspects of an effective Board. We recognize 
the benefits of racial, gender, ethnic and 
experience-based diversity, and value the 
healthy debate that stems from different 
viewpoints. We aim to reflect our diverse 
customer and employee base; accordingly, 
our Board includes differing geographic, 
business and cultural backgrounds. While 
the Board of Directors does not have a formal 
diversity policy related to the evaluation of 
nominees to the Board, diversity is a factor 
considered when identifying prospective 
nominees.
We believe fresh perspectives and new ideas 
are critical to a forward-looking and strategic 
Board. Meanwhile, given the complex nature 
of our business, it is equally important to 
have the valuable experience and institutional 
knowledge that longer-serving directors bring 
to the boardroom. In light of multi-generational 
leadership from the Bendheim family, Phibro 
takes pride in continuity of management, of 
philosophy and of commitment. 
“
“Family-based values is the common thread that runs throughout  
our company. We have a legacy of long-range, practical values  
and of building, maintaining and valuing meaningful relationships 
with our customers while doing what’s right for the business.  
We thrive in delivering product and service-based solutions  
to meet our customers’ unique challenges.” 
— LARRY MILLER 
Chief Operating Officer
BOARD COMPOSITION: A FAMILY LEGACY WITH DIVERSE PERSPECTIVES

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Our directors bring diverse skills and 
experiences to the Board, including executive 
management, leadership, finance, financial 
reporting, manufacturing, technology, product 
commercialization, animal health and risk 
management.  
Our Chief Financial Officer is responsible for 
internal efforts and development of our ESG 
program, including our assessment of key  
ESG risks and opportunities. Our Chief 
Executive Officer and Chairman of the  
Board set the delivery of the Company’s 
inaugural ESG Report as a corporate-level 
objective.
Relevant ESG topics, risks, issues and 
considerations – largely informed by related 
stakeholder feedback and the use of SASB 
and GRI frameworks – are overseen by our 
board liaison, Carol A. Wrenn, who has been 
a director since July 2010 and also serves as 
a member of the Audit Committee and the 
Compensation Committee.
PRIORITIZING 
EMPLOYEES’  
FINANCIAL &  
PHYSICAL HEALTH 
Phibro recruits top talent with diverse skills, 
education, experience and leadership qualities. 
As such, we maintain a competitive total 
compensation program that entails base salary, 
variable pay opportunity and benefits designed 
around the health and financial well-being of our 
employees.
Phibro actively conducts market analysis of  
total compensation across the animal health  
and life sciences industries. This is evident 
through participation in compensation surveys 
such as Willis Towers Watson Compensation 
survey, Mercer Life Sciences and Mercer 
Executive Compensation. Participating in these 
surveys for benchmarking and insight-gathering 
purposes enables us to stay competitive and 
attract top talent.
On the physical health and wellness front, we 
offer an array of initiatives to support employee 
well-being, including gym reimbursement, 
smoking cessation and employee assistance 
programs. Annually, we offer employees 
biometrics screenings, flu shot clinics and 
seminars on wellness. Our plants in Brazil and 
Argentina house cafeterias that offer balanced 
meals to all employees in a cost-share format.
LEADERSHIP OVERSIGHT OF 
PHIBRO’S ESG JOURNEY

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ADDRESSING RISK FACTORS 
THAT AFFECT OUR BUSINESS 
Our corporate governance efforts are highly 
focused on effectively managing risk and 
preserving long-term, sustainable value for the 
benefit of our shareholders, our employees and 
the broader ecosystem in which we operate.
Phibro’s Annual Report for the year ending 
June 30, 2021, presents certain risks we 
face in the operation of our business. For a 
summary of such details, see our 2021 Annual 
Report on Form 10-K. The Board, either 
directly or through its committees, routinely 
reviews Phibro’s business strategy and 
management’s assessment of related risks and 
discusses with management the appropriate 
level of risk depending  
on the market  
environment  
and other  
relevant  
factors.
CHECKS AND BALANCES 
UTILIZING THIRD PARTY & INTERNAL AUDITS  
TO UPHOLD PROPER STANDARDS   
Internal audit procedure and policies implemented by Phibro include our Environment 
Health and Safety Audit Policy, which aims to identify gaps in compliance and identify 
areas for program development and support. All EHS audits must meet Occupational 
Safety and Health Administration (OSHA), Environmental Protection Agency (EPA) and 
Department of Transportation (DOT) regulatory requirements and fall within Phibro policy, 
at a minimum. Additionally, we have mandated implementation of International EHS 
standards where they exceed OSHA, EPA and DOT requirements.
As part of Phibro’s robust IT security policies, any changes to our information systems are 
monitored through configuration verification and undergo a rigorous auditing process.
OUR TEAM DILIGENTLY MONITORS 
COMPLIANCE PRACTICES GLOBALLY 
The marketing and promotion of animal health products is controlled by regulations 
in many countries. These rules generally restrict advertising and promotion to those 
approved claims and uses that have been reviewed and endorsed by the applicable 
agency. Phibro’s marketing, regulatory and legal experts are diligent about reviewing  
our promotion material for compliance with the local and regional requirements in  
each and every market where we sell animal health products.

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KEY PRIORITIES AND PROGRESS
Based on Phibro’s Materiality Assessment, we plan to track and report our progress against the following Fair & Transparent Governance 
topics on a go-forward basis: Business Ethics, Selling Practices & Product Labeling and Product Design & Lifecycle Management. 
Relevant SASB and GRI metrics, along with our baseline data follow:
BUSINESS ETHICS
CODE
TOPIC
DATA
SASB HC-BP-510a.1
Business Ethics:  
Total amount of monetary losses as a result of legal 
proceedings associated with corruption and bribery
None reported
SASB HC-BP-270a.2
Business Ethics:  
Description of code of ethics governing promotion of off-label 
use of products
While Phibro does not have an internal code of ethics on off-label use, 
we do not promote or encourage any off-label use of our products. 
Some markets permit off-label use of some products through 
veterinary prescription. Phibro maintains a formal marketing materials 
review process involving both the regulatory department and the law 
department to ensure, amongst other regulatory and legal requirements, 
that promoted product uses are consistent with the approved uses of our 
products.
KEY PRIORITIES AND PROGRESS

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CODE
TOPIC
DATA
Phibro metric
Business Ethics:  
Description of Business Ethics Policies
Code of Ethics: Our Code of Business Conduct and Ethics (“Code of 
Conduct”) applies to all our employees, including our executive officers. 
We also have a Code of Ethics for the Chief Executive Officer and Senior 
Financial Officers (“Code of Ethics”), which applies only to our executive 
officers and certain members of our management. Our Code of Conduct 
and Code of Ethics are designed to ensure that the highest ethical 
standards are properly communicated and adhered to in all realms of 
our business. Each year we administer companywide training on our 
Code of Conduct, which contains practical guidelines and examples 
of situations employees might encounter to help guide their decision-
making processes. Our Code of Conduct encourages all our employees to 
speak up when they see conduct that is inconsistent with our high ethical 
standards and provides resources for up-the-chain reporting. There are 
several ways in which employees can raise concerns about suspected 
violations, misconduct or unsafe conditions, including our independent 
third-party operated EthicsPoint hotline, available 24/7, through which 
reports can be made confidentially and anonymously. In addition to the 
EthicsPoint hotline, employees are encouraged to address questions and 
concerns to, or to seek help and guidance from, their supervisor, or to 
report concerns directly to the Human Resources Department, the Legal 
Department and/or the Company’s Audit Committee.
Phibro metric
Business Ethics:  
Description of Board of Directors  
1) Committee and  
2) Independence
Board Committees: Our Board of Directors has two standing 
committees, an Audit Committee and a Compensation Committee. Each 
of the committees reports to the Board. In the future, our Board may 
establish other committees, as it deems appropriate, to assist it with its 
responsibilities.
Our Audit Committee’s responsibilities include overseeing our 
relationship with our independent registered public accounting firm 
(our “external auditor”) (e.g., their independence from management; the 
scope and results of their audit; review and monitoring of our accounting 
principles, accounting policies, financial and accounting controls and 
compliance with legal and regulatory requirements); establishing 
procedures for the confidential anonymous submission of concerns 
regarding questionable accounting, internal controls or auditing matters; 
reviewing and approving related party transactions; and oversight of our 
risk management process.

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CODE
TOPIC
DATA
Phibro metric
Business Ethics:  
Description of Board of Directors  
1) Committee and  
2) Independence
Our Compensation Committee’s responsibilities include reviewing key 
employee compensation goals, policies, plans and programs; overseeing 
the compensation of our directors, chief executive officer and other 
executive officers; reviewing and approving employment agreements and 
other similar arrangements between us and our executive officers; and 
administering our stock plans and other incentive compensation plans, 
if any. Our Compensation Committee regularly reviews our executive 
compensation program to ensure that compensation is closely tied to 
aspects of our performance that our executive officers can impact and 
that are likely to have an impact on stockholder value. On an annual basis, 
our Compensation Committee evaluates the performance of our Chief 
Executive Officer and approves his compensation. Our Chief Executive 
Officer annually reviews the performance of our executive officers, 
including the named executive officers (other than himself/herself), 
with our Compensation Committee and makes recommendations to 
our Compensation Committee with regard to each executive officer’s 
compensation (other than himself/herself). Our Compensation Committee 
considers such recommendations when approving each executive 
officer’s compensation (other than the Chief Executive Officer). Our 
Compensation Committee annually evaluates the compensation of our 
directors in light of their duties and makes recommendations with regard 
to their compensation to our Board for approval.
Independence: Jack C. Bendheim, our Chairman, President and Chief 
Executive Officer, has sole authority to vote shares of our stock owned 
by BFI Co., LLC, an investment vehicle of the Bendheim family. Because 
BFI controls a majority of the combined voting power of our outstanding 
common stock, we are a controlled company under the Nasdaq corporate 
governance standards. As a controlled company, we are exempt from 
the requirement that a majority of our Board consist of “independent 
directors,” as defined under such rules. Nevertheless, our Board has 
reviewed the independence of its current members in accordance with 
the independence requirements of the applicable Nasdaq rules and has 
determined that the majority of our directors are “independent directors” 
under the relevant Nasdaq rules.

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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SELLING PRACTICES & PRODUCT LABELING
CODE
TOPIC
DATA
SASB FB-FR-270a.1
Product Labeling & Marketing:  
Number of incidents of non-compliance with industry or 
regulatory labeling and/or marketing codes
None reported 
All promotional materials and communications must be accurate, not 
misleading and compliant with all applicable legal and regulatory 
standards, including any applicable standards addressing off-label 
promotion, substantiation, scientific rigor and fair balance. Colleagues in 
sales, marketing, technical services and regulatory functions must comply 
with local or regional policies with respect to labeling, promotional 
programs, product samples and other related topics. Technical and 
regulatory review operates on a regional basis to review and approve 
marketing and promotional materials prior to their use.
SASB FB-FR-270a.2
Product Labeling & Marketing:  
Total amount of monetary losses as a result of legal 
proceedings associated with marketing and/or labeling 
practices
None reported
PRODUCT DESIGN & LIFECYCLE MANAGEMENT
SASB HC-MS-410a.1
Product Design & Lifecycle Management:  
Discussion of process to assess and manage environmental 
and human health considerations associated with chemicals in 
products, and meet demand for sustainable products
Our products meet FDA standards in the U.S. and other regulator 
standards in each country for tissue residue and environmental impact.

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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6.0 
NEXT STEPS ON OUR  
ESG JOURNEY
Phibro is in the early stages of our ESG 
journey. Multiple generations of our founding 
family have served in leadership roles since 
the company’s inception, so Phibro has always 
taken a long-game approach to business. 
Protecting the environment – the E in ESG, 
treating employees well and engaging with 
the communities in which we operate – the S 
in ESG, and ethically managing the business 
– the G in ESG, are all built into the family’s 
belief system. With Jack Bendheim at our 
helm, Daniel Bendheim serving as Director and 
Executive Vice President, Corporate Strategy, 
and Jonathan Bendheim serving as Director, 
President, Europe, Middle East & Africa Region 
and General Manager, Israel Operations, 
these beliefs are entrenched at every level 
and across every geographic location of our 
company.
Moving forward, Phibro will publish 
updated ESG Reports to keep employees, 
stakeholders and business partners apprised 
of our progress against ESG targets and Key 
Performance Indicators (KPIs). We appreciate 
the support of each of these groups as we 
forge ahead on our ESG journey.
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ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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7.0 
APPENDIX
SASB INDEX
TOPIC
ACCOUNTING METRIC
CODE
RESPONSE
Greenhouse Gas Emissions
Gross global Scope 1 emissions
FB-MP-110a.1.
P. 21
Energy Management
(1) Total energy consumed, (2) percentage grid electricity, (3) 
percentage renewable
FB-MP-130a.1
P. 22
Water Management
(1) Total water withdrawn, (2) total water consumed, percentage of 
each in regions with High or Extremely High Baseline Water Stress
FB-MP-140a.1
P. 22
Food Safety
Global Food Safety Initiative (GFSI) audit (1) non-conformance rate 
and (2) associated corrective action rate for (a) major and (b) minor 
non-conformances
FB-MP-250a.1
Not applicable 
Percentage of supplier facilities certified to a Global Food Safety 
Initiative (GFSI) food safety certification program
FB-MP-250a.2
(1) Number of recalls issued and (2) total weight of products recalled
FB-MP-250a.3
Discussion of markets that ban imports of the entity’s products
FB-MP-250a.4
52
Workforce Health & Safety
(1) Total recordable incident rate (TRIR) and  
(2) fatality rate
FB-MP-320a.1
P. 39
Description of efforts to assess, monitor, and mitigate acute and 
chronic respiratory health conditions
FB-MP-320a.2
P. 39
Product Safety
Number of recalls issued, total units recalled
HC-MS-250a.1
Not applicable
List of products listed in the FDA’s MedWatch Safety Alerts for Human 
Medical Products database
HC-MS-250a.2
Number of fatalities related to products as reported in the FDA 
Manufacturer and User Facility Device Experience database
HC-MS-250a.3
Number of FDA enforcement actions taken in response to violations of 
current Good Manufacturing Practices (cGMP), by type
HC-MS-250a.4

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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SASB INDEX, CONTINUED
TOPIC
ACCOUNTING METRIC
CODE
RESPONSE
Drug Safety
List of products listed in the Food and Drug Administration’s (FDA) 
MedWatch Safety Alerts for Human Medical Products database 
HC-BP-250a.1
Not applicable
Number of fatalities associated with products as reported in the FDA 
Adverse Event Reporting System
HC-BP-250a.2
Number of recalls issued, total units recalled
HC-BP-250a.3
Total amount of product accepted for take-back, reuse, or disposal
HC-BP-250a.4
Number of FDA enforcement actions taken in response to violations of 
current Good Manufacturing Practices (cGMP), by type
HC-BP-250a.5
Business Ethics
Total monetary losses as a result of legal proceedings associated with 
corruption and bribery
HC-BP-510a.1
P. 47
Description of code of ethics governing interactions with health care 
professionals
HC-BP-510a.2
Not applicable 
Ethical Marketing
Total amount of monetary losses as a result of legal proceedings 
associated with false marketing claims
HC-BP-270a.1
P. 50
Description of code of ethics governing promotion of off-label use of 
products
HC-BP-270a.2
P. 47
Supply Chain Management
Percentage of (1) entity’s facilities and (2) Tier I suppliers’ facilities 
participating in third-party audit programs for manufacturing and 
product quality
HC-MS-430a-1
Not applicable 
Description of efforts to maintain traceability within the distribution 
chain
HC-MS-430a.2
Description of the management of risks associated with the use of 
critical materials
HC-MS-430a.3
Product Health & Nutrition
Revenue from products labeled and/or marketed to promote health and 
nutrition attributes
FB-FR-260a.1
P. 42
Discussion of the process to identify and manage products and 
ingredients related to nutritional and health concerns among 
consumers
FB-FR-260a.2
P. 42
Management of Environmental & 
Social Impacts in the Supply Chain
Revenue from products third-party certified to environmental or social 
sustainability sourcing standards
FB-FR-430a.1
Not applicable 
Percentage of revenue from (1) eggs that originated from a cage-free 
environment and (2) pork produced without the use of gestation crates
FB-FR-430a.2
Not applicable
Discussion of strategy to manage environmental and social risks within 
the supply chain, including animal welfare
FB-FR-430a.3
PP. 16, 29, 30

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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GRI INDEX* 
GRI 201: ECONOMIC PERFORMANCE 2016
 
Code
Disclosure(s)
Response
201-3
Defined benefit plan obligations and  
other retirement plans
P. 34
GRI 202: MARKET PRESENCE 2016 
Code
Disclosure(s)
Response
202-2
Proportion of senior management hired from  
the local community
P. 34
GRI 203: INDIRECT ECONOMIC IMPACTS 2016
Code
Disclosure(s)
Response
203-2
Significant indirect economic impacts
P. 27
GRI 306: WASTE 2020
Code
Disclosure(s)
Response
306-2
Management of significant waste-related impacts
P. 23
GRI 401: EMPLOYMENT 2016
Code
Disclosure(s)
Response
401-2
Benefits provided to full time employees that are not provided to 
temporary or part-time employees
P. 34
*The material references the title and publication year of the standard in the shaded sub headers.

ENVIRONMENTAL, SOCIAL & GOVERNANCE 
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FORWARD-LOOKING STATEMENTS
This Report contains forward-looking statements that are 
subject to risks and uncertainties. All statements other 
than statements of historical or current fact included in 
this report are forward-looking statements. Forward-
looking statements discuss our current expectations and 
projections relating to our financial condition, results of 
operations, plans, objectives, future performance and 
business. You can identify forward-looking statements 
by the fact that they do not relate strictly to historical or 
current facts. These statements may include words such as 
“aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” 
“outlook,” “potential,” “project,” “projection,” “plan,” “intend,” 
“seek,” “may,” “could,” “would,” “will,” “should,” “can,” “can 
have,” “likely,” the negatives thereof and other words and 
terms of similar meaning in connection with any discussion 
of the timing or nature of future operating or financial 
performance or other events. 
For example, all statements we make relating to our plans 
and objectives for future operations, growth, initiatives or 
strategies are forward-looking statements. All forward-
looking statements are subject to risks and uncertainties 
that may cause actual results to differ materially from those 
that we expected. Examples of such risks and uncertainties 
include:
• The negative effects of a pandemic, epidemic or outbreak 
of an infectious disease in humans, such as COVID-19, on 
our business, financial results, manufacturing facilities and 
supply chain, as well as our customers, protein processors 
and markets;
• Perceived adverse effects on human health linked to 
the consumption of food derived from animals that use 
our products could cause a decline in the sales of those 
products;
• Restrictions on the use of antibacterials in food-producing 
animals may become more prevalent;
• The potential FDA withdrawal of approval of our Mecadox 
(carbadox) product;
• A material portion of our sales and gross profits are 
generated by antibacterials and other related products;
• Competition in each of our markets from a number of 
large and small companies, some of which have greater 
financial, research and development (“R&D”), production 
and other resources than we have;
• Outbreaks of animal diseases could significantly reduce 
demand for our products;
• Our business may be negatively affected by weather 
conditions and the availability of natural resources;
• Climate change could have a material adverse impact on 
our operations and our customers’ businesses;
• The continuing trend toward consolidation of certain 
customer groups as well as the emergence of large 
buying groups;
• Our ability to control costs and expenses;
• Any unforeseen material loss or casualty;
• Exposure relating to rising costs and reduced customer 
income;
• Competition deriving from advances in veterinary medical 
practices and animal health technologies;
• Unanticipated safety or efficacy concerns;
• Our dependence on suppliers having current regulatory 
approvals;
• Our raw materials are subject to price fluctuations and 
their availability can be limited;
• Natural and man-made disasters, including but not limited 
to fire, snow and ice storms, flood, hail, hurricanes and 
earthquakes;
• Terrorist attacks, particularly attacks on or within markets 
in which we operate;
• Our ability to successfully implement our strategic 
initiatives;
• Our reliance on the continued operation of our 
manufacturing facilities and application of our intellectual 
property;
• Adverse U.S. and international economic market 
conditions, including currency fluctuations;
• Failure of our product approval, R&D, acquisition and 
licensing efforts to generate new products;
• The risks of product liability claims, legal proceedings and 
general litigation expenses;
• The impact of current and future laws and regulatory 
changes;
• Modification of foreign trade policy may harm our food 
animal product customers;
• Our dependence on our Israeli and Brazilian operations;
• Our substantial level of indebtedness and related debt-
service obligations;
• Restrictions imposed by covenants in our debt 
agreements;
• The risk of work stoppages; and
• Other factors as described in “Risk Factors” in Item 1A of 
our Annual Report.
While we believe our assumptions are reasonable, we 
caution that it is very difficult to predict the impact of 
known factors, and it is impossible for us to anticipate all 
factors that could affect our actual results. Important factors 
that could cause actual results to differ materially from our 
expectations, or cautionary statements, are disclosed under 
“Risk Factors” and “Management’s Discussion and Analysis 
of Financial Condition and Results of Operations” of our 
Annual Report and subsequent reports filed with the SEC. 
All forward-looking statements are expressly qualified in 
their entirety by these cautionary statements. You should 
evaluate all forward-looking statements made in this report 
in the context of these risks and uncertainties.
We caution you that the important factors referenced above 
may not contain all of the factors that are important to 
you. In addition, we cannot assure you that we will realize 
the results or developments we expect or anticipate or, 
even if substantially realized, that they will result in the 
consequences we anticipate or affect us or our operations 
in the way we expect. The forward-looking statements 
included in this report are made only as of the date hereof. 
We undertake no obligation to publicly update or revise any 
forward-looking statement as a result of new information, 
future events or otherwise, except as otherwise required 
by law. If we do update one or more forward-looking 
statements, no inference should be made that we will make 
additional updates with respect to those or other forward-
looking statements.

To learn more about how we are advancing care for  
animals for the benefit of people and the planet,  
visit www.pahc.com/responsibility.
BY MAIL
PHIBRO ANIMAL HEALTH CORPORATION
Glenpointe Centre East, 3rd Floor
300 Frank W. Burr Boulevard, Suite 21
Teaneck, NJ 07666-6712 USA
GENERAL INQUIRIES
DAMIAN FINIO
Phibro Animal Health Corporation
Chief Financial Officer
investor.relations@pahc.com
HUMAN RESOURCE INQUIRIES
LISA ESCUDERO
Phibro Animal Health Corporation
Senior Vice President, Human Resources
humanresources@pahc.com
56