Rana Gruber ASA

Earnings Release • Jan 5, 2023

Rana Gruber ASA – Production update Q4-22

Rana Gruber has today published the production update for the fourth quarter of 2022. The concentrate production of the fourth quarter was 460 000 metric tons, up from 435 000 metric tons last year. This is in line with the strong production last quarter and a result of continuous improvement in the entire value chain.

Please see attachments for selected production and sales metrics for the quarter.

1000 metric tons, except where indicated otherwise.	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	FY22	FY21
Production Concentrate	460	469	393	406	435	1728	1652
Production hematite	435	442	370	383	406	1630	1545
Production magnetite	25	27	23	23	29	98	108
Production Colorana	1,6	1,1	1,2	1,6	1,3	5,5	5,3
Production ore	1 379	1 273	1 204	1 271	1 423	5 127	5 150
Production underground (ore)	635	650	646	717	741	2 648	2 767
Production open pit (ore)	745	623	558	554	682	2 479	2 383
Production open pit (waste rock)	1 136	1 007	1 190	1 203	1 350	4 536	4 909
Volumes sold
1000 metric tons, except where indicated otherwise.
Volume Hematite	372	364	400	383	367	1519	1441
Volume Magnetite	27	22	24	20	29	93	106
Volume Colorana	1,3	1,4	1,4	1,5	1,1	5,6	5,7

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