Production report Q3 2026

12:15 London, 14:15 Helsinki, 30 October 2026 - Afarak Group SE (“Afarak” or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)

Production report Q3 2026

Afarak Group’s overall production for the first three quarters of 2026 has increased by 17.9% when compared to the same period in 2025. This growth was primarily driven by the South African mines, which are now operating steadily following extensive and continuous preparation work.

			Q3/2026	Q3/2025	Change	YTD 2026	YTD 2025	Change	FY 2025
	Speciality Alloys	mt	23,385	23,952	-2.4%	73,808	80,107	-7.9%	105,432
	Processing	mt	3,233	6,039	-46.5%	16,996	21,966	-22.6%	27,626
	Mining	mt	20,152	17,913	12.5%	56,812	58,141	-2.3%	77,806
	South African mines	mt	89,733	28,932	210.3%	183,369	138,114	32.8%	173,451
	Mining	mt	89,733	28,932	210.3%	183,369	138,114	32.8%	173,451

Processing

• Processing volumes decreased by 46.5% in Q3 2026 compared to same quarter last year, driven by a strategic initiative to optimise inventory levels.

Mining

• The South African mining activity almost tripled (up 210.3%) YoY in Q3 2026.  This surge heavily drove YTD production, resulting in a 32.8% increase over the same period last year.

• The Turkish mining operations maintained steady growth, with an increase of 12.5% in Q3 2026 when compared to Q3 2025.

Outlook for Q4 2026

Demand and Price Trends:

The demand for Cr Ore has recently regressed, due to oversupply in China. The substantial hike in freight cost and the falling market prices have a significant impact on the profit margins.

LC FeCR consumption and pricing is slowly picking up from a very low level in the European market. The US market is doing much better, due to a healthy demand from the aeronautical sector. High freight costs from India and China are currently discouraging large imports.

Challenges and Opportunities:

The strengthening of USD helps to improve the results, along with the effect of CBAM and the introduction of a mandatory product liability and recall insurance, for all the ferrochrome products.

Helsinki, 30 October 2026

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

Guy Konsbruck, CEO, +356 2122 1566, [email protected]

Financial reports and other investor information are available on the Company's website: www.afarak.com.

Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).

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London Stock Exchange
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