Press release
Page 1
14 October 2026 LEI: 213800CEDKSNUTPAQZ41 Ferrexpo plc(“Ferrexpo” or the “Company” or the “Group”) Production Report for 3Q 2026 Ferrexpo plc (LSE: FXPO), a producer and exporter of premium iron ore products, reports production results for the third quarter to the end of September 2026 (“the quarter” or “3Q” or “3Q 2026”). Production Report Ferrexpo remains committed to the safety and wellbeing of its workforce and the Group continues totake extensive measures to protect employees, their families, and local communities. At the end of August 2026, the Group reported an increase in the rolling 12-month Lost Time InjuryFrequency Rate (LTIFR) of 0.28 compared to 0.18 (rolling 12-month LTIFR) at the end of June, thoughstill below the historic five-year trailing average of 0.44. August 2026 marks the sixth year with zerofatalities at the Group’s operations, however, as announced in July 2026 there was an incident involvinga chartered vessel carrying Ferrexpo cargo that was struck and damaged by Russian drones and achartered crew member sadly lost his life. Tight liquidity, constrained logistics capacity, and the temporary suspension of production resulted inlower production levels in the quarter, totalling 780 thousand tonnes in the third quarter, lower than the963 thousand tonnes in the second quarter. Production of higher value DR pellets as a percentage of the product mix was maintained during thequarter, and up 272% in volume terms for the year-to-date end-September compared to the sameperiod last year. On 4 September 2026, the Group announced the successful equity fundraise of approximately US$100million, overwhelmingly approved by shareholders on 21 September 2026. The proceeds havestrengthened the balance sheet and enabled the restart of production. The Group continues to work extensively to manage its cash costs. This includes reduced working timefor employees, ongoing cuts in procurement of goods and services and a suspension of all non-essential CapEx, overheads, and corporate social responsibility spending. The Group continues to be in advanced negotiations with a reputable trade finance provider for asecured trade finance facility (as previously announced), however the timing of entry into definitivedocuments has been impacted by, amongst other things, the ongoing logistics disruption on the Group’sBlack Sea export route and consequently the Group’s ability to deliver product shipments to the tradefinance provider under an associated sales contract. As the potential facility has not yet been enteredinto there can be no certainty that the facility will be concluded on the terms described, or at all. Summary production statistics (tonnes) FeGrade 3Q 20262Q 2026 Change9M 20269M 2025Change Total commercial production 779,975 963,409 -19%2,336,1355,067,888 -54% Total pellet production 656,650 860,213 -24%2,041,7892,808,594 -27% DR pellets (FDP) 67% 141,220 163,171 -13% 304,391 81,787 272% Ferrexpo premium pellets65% 515,430 697,042 -26%1,737,3982,726,807 -36% Commercial concentrate67% 123,325 103,196 20% 294,3462,259,294 -87% Commenting on the Group’s performance, Lucio Genovese, Interim Executive Chair, said: “In September, it was pleasing that Ferrexpo shareholders overwhelmingly approved a US$100 millionequity raise. The fundraise was not without its challenges. As we progressed over the summer months, theeconomic backdrop in Ukraine deteriorated which, together with the various legal proceedings against theGroup, seriously tested the risk appetite to invest in Ukraine. Nevertheless, we were able to successfullycomplete the fundraise with a level of oversubscription. We are grateful for the support of all shareholders,old and new, whom we welcome to the Company. The fundraise was necessary because the decision of the Ukrainian tax authorities to withhold VAT refundshad significantly eroded our cash position. Constrained liquidity forced the downscaling of production andever-deeper cost-cutting. We had taken extensive measures to manage this situation, including toughdecisions to place employees on furlough or reduced working hours. We recognise that this put our
Page 2
employees under immense stress in an already difficult environment and that the knock-on effect of lowersalaries, procurement levels, and fiscal contributions has had a broader socio-economic impact in thecommunity. Despite our intensive efforts, as time advanced it became clear to sustain production, and protect jobs andlivelihoods, fresh funds were needed. I am therefore grateful to the Ferrexpo team who worked tirelesslyon the fundraise alongside our advisers, and to our employees for their patience. The fundraise has allowed us to restart production activities, albeit at significantly lower capacity thanbefore the full-scale invasion. With access to Ukrainian ports severely restricted, there are limited optionsto expand exports and therefore production capacity at present. Due to the temporary suspension of production in August and the ramp-up to one pellet line in September,total production for the quarter was just shy of 800,000 tonnes. As the war prolongs, more of our colleagues have been conscripted into the Armed Forces of Ukraine; atotal of 129 this year, taking the number of those serving to 837 at the end of September 2026. During themonths of July to September, we were informed that a further two colleagues were killed while defendingUkraine, resulting in a total 70 deaths since the full-scale invasion. These brave men and women arefighting and dying, serving their country and their people, and we pray for the safe return of those who areon the front lines. Finally, once again, I thank our employees for their perseverance and our shareholders for their confidencein supporting our business.” For further information, please contact: Ferrexpo: Nick Bias n.bias@ferrexpo.ch +44 (0)7733 177 831 Tavistock: Jos Simson Gareth Tredway ferrexpo@tavistock.co.uk +44 (0)20 7920 3150 About Ferrexpo: Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a listing in the equity shares commercial companies category on the London Stock Exchange (ticker FXPO). The Group is a niche producer and exporter of high-grade iron ore products used by steel makers to manufacture high- quality steel and help them lower their emissions, compared to more commonly traded forms of iron ore. For further information, please visit www.ferrexpo.com. Notes: Please note that numbers may not add up due to rounding.
Page 3
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial ConductAuthority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution ofthis information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the informationcontained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services.For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our PrivacyPolicy. END