Rana Gruber ASA

Related Party Transaction • Apr 4, 2022

Decision about the operations of level 91

Decision about the operations of level 91

Mo i Rana, 4 April 2022: Based on a competitive bidding process, Rana Gruber has decided to award the contractor Leonhard Nilsen & Sønner AS (LNS) a contract for the first phase of development of the next mining level (L91). The development of L91 is expected to start towards the end of the second quarter of 2022.

LNS is a construction company owned by Leonhard Nilsen & Sønner – Eiendom AS, who is also shareholder in Rana Gruber. All agreements with LNS are made based on the arm's length principle.

About Rana Gruber

Rana Gruber is a Norwegian iron ore producer and supplier established in 1964, with operations based on more than 200 years of mining experience. The company's products are based on own natural mineral resources, which are upgraded and tailored for applications and exported to its customers worldwide. Rana Gruber produces and sells iron ore concentrate, primarily serving steel producers and participants in the chemical industry. Rana Gruber also produces and sells micronised iron oxides and other dissemination of iron ore, which primarily serves paint manufactures and participants in the building- and automotive industries. Rana Gruber has about 300 employees and a production capacity of 1.8 million tons of iron ore concentrates and specialised products.

Contact:

CEO, Gunnar Moe

+47 941 47 650

gunnar.moe@ranagruber.no

CFO, Erlend Høyen

+47 902 02 741

erlend.hoyen@ranagruber.no