Board Statement

14 October 2019

FERREXPO plc

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

Statement from Ferrexpo's Board of Directors

The Board of Ferrexpo has noted recent headlines with regards to the Group's CEO and majority shareholder, Kostyantin Zhevago. The Board is closely monitoring the situation and will take any actions that are needed in the interests of all shareholders and the Company.

Meanwhile, the Board has been informed that Mr Zhevago has not been served with any legal notice and Mr Zhevago strongly denies any allegations of wrongdoing.

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Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for 40 years. Ferrexpo's resource base is one of the largest iron ore deposits in the world. In 2018, the Group produced 10.6 million tonnes of pellets, a 2% increase compared to 2017, ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.