Afarak Group

Earnings Release • Apr 27, 2017

National Storage Mechanism | Additional information

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12:00 London, 14:00 Helsinki, 27 April 2017 - Afarak Group Plc ("Afarak" or "the Company")

PROFIT WARNING: AFARAK EXPECTS SIGNIFICANTLY BETTER QUARTER ONE RESULTS

Afarak increased its revenue substantially in Q1/2017 when compared to Q1/2016. The increase in chrome ore and ferrochrome market prices and Afarak's progression in production, both in Germany and in South Africa, contributed significantly to this improved performance.

It is expected that quarter one results for 2017 will be among the highest recorded for the company since it entered the mineral business.  The EBIT is expected to reach a level of not less than € 10 Million.

Afarak will publish its interim report for the first quarter of 2017 on May 12th, 2017.

Afarak Group plc

The Board of Directors

For additional information, please contact:

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

Predrag Kovacevic, CFO, +356 2122 1566,  pedja.kovacevic@afarak.com

Melvin Grima, Finance Director, +356 2122 1566,  melvin.grima@afarak.com

Jean Paul Fabri, PR Manager, +356 2122 1566,  jp.fabri@afarak.com

PR Profit Warning EN

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Afarak Group via Globenewswire*