Rana Gruber ASA

Earnings Release • Jul 6, 2023

Rana Gruber ASA – Production update Q2-23

Rana Gruber ASA – Production update Q2-23

Rana Gruber has today published the production update for the second quarter of 2023. The concentrate production of the second quarter was 427.000 metric tons, up from 393.000 metric tons last year.

Volume sold of hematite was 432.000 metric tons, which corresponds to seven shipments.

Final settlement of these shipments will be in July (3), August (2) and September (2).

As previously announced, two shipments were sent to China. There has been a change in the destination for one of these shipments. One shipment was redirected to India, while the other was delivered to China as planned. Final settlements for these shipments will be in July and August.

See attachment for more information.

About Rana Gruber

Rana Gruber is a Norwegian iron ore producer established in 1964, with operations based on more than 200 years of mining experience. The company's products are based on natural mineral resources, which are processed and exported to customers worldwide. Key customers include steel producers and participants in the chemical industry. The company has about 300 employees and a production capacity of 1.8 million metric tons of iron ore concentrates.

Contact

CEO, Gunnar Moe

+47 941 47 650

Gunnar.moe@ranagruber.no

CFO, Erlend Høyen

+47 902 02 741

Erlend.hoyen@ranagruber.no