Rana Gruber ASA

Related Party Transaction • Mar 10, 2022

Rana Gruber enters iron ore swap contracts

Rana Gruber enters iron ore swap contracts

Rana Gruber ASA has entered into Iron Ore 62% Fe, CFR China (TSI) swap contracts.

According to the swap contracts, Rana Gruber AS has agreed to sell a total of 250,000mt from Q3-22 to Q2-23 at an average price of 149.9 USD/mt.

Volumes per quarter:

Q3-22: 40.000mt (avg. 157.6 USD/mt)

Q4-22: 60.000mt (avg. 152.4 USD/mt)

Q1-23: 60.000mt (avg. 149.2 USD/mt)

Q2-23: 90.000mr (avg. 145.2 USD/mt)

The swap contracts relate to physical shipments in Q2-22 to Q1-23.

Final financial settlement of these shipments will be connected with the swap contracts.

Total volume of iron ore swap contracts after today is:

Q1-22: 360.000mt (avg 134.3 USD/mt)

Q2-22: 240.000mt (avg 135.8 USD/mt)

Q3-22: 130.000mt (avg. 144.9 USD/mt)

Q4-22: 150.000mt (avg. 143.7 USD/mt)

Q1-23: 150.000mt (avg. 137.6 USD/mt)

Q2-23: 90.000mt (avg. 145.2 USD/mt)

Contact

CEO, Gunnar Moe

+47 94147650

Gunnar.moe@ranagruber.no

CFO, Erlend Høyen

+47 90202741

Erlend.hoyen@ranagruber.no

About Rana Gruber ASA

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, and 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 specialty products.