Afarak Group

Earnings Release • Apr 26, 2023

National Storage Mechanism | Additional information

16:30 London, 18:30 Helsinki, 26 April 2023 - Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)

Production report Q1 2023

Afarak Group production during the first quarter of 2023 was at the same level of same quarter of previous year.

			Q1/2023	Q1/2022	Change	FY 2022
	Speciality Alloys	mt	24,359	24,229	0.5%	87,734
	Processing	mt	7,581	8,311	-8.8%	26,642
	Mining	mt	16,778	15,918	5.4%	61,092
	South African mines	mt	61,045	0	100.0%	71,271
	Mining	mt	61,045	0	100.0%	71,271

Processing

• The processing volumes decreased by 8.8% during the first quarter of 2023 when compared to same period of the prior year
• The processing plant in Germany carried out a maintenance shutdown during the first quarter of 2023

Mining

• The overall mining activity increased significantly when compared to same period of prior year
• The mining activity at the Turkish mines was 5.4% higher than same period last year
• The output increased in South Africa on account of the favourable market conditions

Helsinki, April 26, 2023

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

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

Attachment

• Afarak_Production report_2023_Q1_EN