On January 14, 2016, Innophos Holdings, Inc. announced that on January 11, 2016, it has entered into an agreement with FrontFour Capital Group, LLC and various affiliates pursuant to which FrontFour would support the Company's Board of Directors' slate of nominees at the 2016 annual meeting and abide by customary standstill provisions until the date that is thirty (30) days prior to the deadline for submission of shareholder nominations of director candidates for election at the Company's 2017 annual meeting. Further, the Company announced that it has appointed Peter T. Thomas and Robert J. Zatta to the Company's Board of Directors, effective immediately. The Company stated that Peter T. Thomas and Robert J. Zatta would be included in the Company's slate of director nominees for election at the Company's 2016 annual meeting.

In addition, the Company stated that with these changes, the Company's Board has been expanded to 9 directors, 8 of whom are independent. Further, FrontFour Capital stated that it has productive dialogue with the Company over the past several months and is pleased with the agreement it has entered into with the Company, which it views benefits all the Company shareholders.