Update on vessel incident, logistics & operations

Ferrexpo plc (LSE: FXPO) provides the following update on the vessel incident and logistics disruption in the Black Sea and the impact on the Group's operations.

Further to the announcement issued on 28 July 2026, the owner of the vessel has pursued different options for the salvage of the third-party owned vessel containing Ferrexpo 'DR-grade pellets' (FDP). Despite the challenging conditions, the vessel was successfully located and has been removed from the war-risk area and is currently towing towards one of the nearest ports on the Black Sea for the required technical inspection and evaluation of the cargo condition.

The ongoing threat of attacks in and around Ukrainian ports has materially restricted the Group's Black Sea export logistics routes. As a result, and to preserve the Group's working capital position, the Company has decided to temporarily suspend production of iron ore products from its mining and pelletising operations in Ukraine. The resumption of production is subject to, amongst other things, an injection of additional working capital.

The Group is currently able to supply its European customers from existing inventory stockpiles.

In the absence of additional funding, the Group expects its net accessible cash resources to be sufficient until mid-September 2026.

This forecast remains subject to the volatility of iron ore pricing, operating expenses (including energy costs), the resolution (or otherwise) of the matters described in this announcement, and the other risk factors and caveats set out in the Company's previous announcements, including the suspension of VAT refunds and the ongoing legal proceedings involving Ferrexpo Poltava Mining.

Further information will be provided as and when appropriate.