Phibro Animal Health Corporation Announces $550 million Debt Refinancing TEANECK, N.J.

Animal Health Corporation Announces $550 million Debt Refinancing

TEANECK, N.J., April 22, 2021, (Business

Wire) -- Phibro Animal Health Corporation (NASDAQ:PAHC) announced today that on April 22, 2021, the Company entered into an amended and

restated credit agreement. Under the amended and restated credit agreement, the lenders agreed to extend credit to the Company in the

form of Term A loans in an aggregate principal amount of $300 million ("Term A Loans") and a revolving credit facility in

an aggregate principal amount of $250 million ("Revolver").

The amended and restated credit agreement:

"We are pleased to announce the

refinancing of our existing credit agreement. Upsizing our existing credit facilities with primarily our existing syndicate group of lenders,

on substantially the same terms, conditions and pricing as our 2017 Credit Agreement, reflects both the Company's and lenders'

confidence in Phibro. We remain committed to continued debt and leverage reduction." said Jack Bendheim, Chairman, President and

Chief Executive Officer of Phibro.

About Phibro Animal Health Corporation

Animal Health Corporation is a diversified global developer, manufacturer and supplier of a broad range of animal health and mineral

nutrition products for livestock, helping veterinarians and farmers produce healthy, affordable food while using fewer natural resources.

For further information, please visit www.pahc.com.

with the Securities and Exchange Commission are available online at www.sec.gov, www.pahc.com or on request from the company.

Forward-Looking Statements: This communication contains

forward-looking statements that are subject to risks and uncertainties, including with respect to future debt and leverage levels. 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.

These statements are not guarantees of future performance or actions. If one or more of these risks or uncertainties materialize, or if

management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking

statement. Forward-looking statements speak only as of the date on which they are made. Phibro expressly disclaims any obligation to update

or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description

of risks, uncertainties and other matters can be found in our Quarterly Report on Form 10-Q and Annual Report on Form 10-K, including

in the sections thereof captioned "Forward-Looking Statements" and "Risk Factors." These filings and subsequent

filings are available online at www.sec.gov, www.pahc.com, or on request from Phibro.

Phibro Animal Health Corporation

Chief Financial Officer