Operational Update

24 February 2022                                                                                                                                                                                                  

Ferrexpo plc

("Ferrexpo" or the "Company" or the "Group")

                                                                Operational Update

Ferrexpo plc (LSE: FXPO), the world's 3^rd largest exporter of high grade iron ore pellets to the global steel industry, is closely monitoring developments in Ukraine following the official announcement by the government of Ukraine of an incursion by Russian armed forces into the territory of Ukraine.

The Group is continuing to assess developments locally and will prioritise the safety of its workforce. At the present time, the Group's mining and processing facilities are operating, which are located adjacent to the city of Horishni Plavni, in central Ukraine, where the situation remains stable. However, the government of Ukraine has now suspended rail transportation.

The Group will make a further announcement as and when appropriate.

For further information, please contact:

About Ferrexpo:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group's iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore. Ferrexpo's operations have been supplying the global steel industry for over 40 years and in 2021 the Group produced 11.2 million tonnes of iron ore pellets, placing Ferrexpo as the world's 3^rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. The Group has a global customer base comprising of premium steel mills around the world, which includes steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. For further information, please visit www.ferrexpo.com.