Phibro Animal Health Investor Presentation — February 2017

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HEALTHY ANIMALS. HEALTHY FOOD. HEALTHY WORLD.®February 7, 2017Webcast and Conference Call February 7, 2017

HEALTHY ANIMALS. HEALTHY FOOD. HEALTHY WORLD.®

Cautionary Statement

Forward -Looking Statements

This communication contains forward- looking statements that are subject to risks and uncertainties. All statements other than st atements 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,” “anti cipate,” “believe,” “estimate,”

“expect,” “forecast,” “outlook,” “potential,” “project,” “projection,” “plan,” “intend,” “seek,” “believe,” “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 oneor 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 di sclaims 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.

Non-GAAP Financial Information

We use non- GAAP financial measures, such as adjusted EBITDA and adjusted net income, to assess and analyze our operational results and trends and

to make financial and operational decisions. Management uses adjusted EBITDA as its primary operating measure. We report adjusted net income to