Afarak Group

Legal Proceedings Report • Oct 23, 2019

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12:30 London, 14:30 Helsinki, 23 October 2019 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

AFARAK GROUP PLC APPEALS THE FIN-FSA DECISION TO THE HELSINKI ADMINISTRATIVE COURT

Stock Exchange Release

On 24 September 2019, Afarak released information that FIN-FSA imposed penalty payment of EUR 1 450 000 to Afarak for failures relating to disclosure of inside information and maintenance of insider lists.

After having studied the FIN-FSA decision, Afarak does not agree with the decision and the penalty payment imposed by FIN-FSA. Therefore Afarak has today appealed the FIN-FSA decision to the Helsinki Administrative Court.

Afarak will continue to cooperate with the FIN-FSA and Afarak remains committed to comply with the rules and regulations of the Helsinki Stock Exchange as well as the London Stock Exchange.

The Company will update the market in due course about the next steps in the process.

Helsinki, October 23, 2019

Afarak Group Plc

Board of Directors

For additional information, please contact:

Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

Financial reports and other investor information are available on the Company's website: www.afarak.com.

Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).

Distribution:

NASDAQ Helsinki

London Stock Exchange

Main media

www.afarak.com