Results of Fundraise

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Ferrexpo plc

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

Results of Fundraise

Ferrexpo plc (LSE: FXPO), a producer and exporter of premium iron ore products, is pleased to announce the successful results of the proposed equity fundraise of new ordinary shares of nominal value £0.10 each in the capital of the Company (the "Ordinary Shares") announced yesterday (the "Fundraise").

Lucio Genovese, Interim Executive Chair, said:

"We are pleased to announce this important equity financing today which will provide the Group with the strengthened balance sheet to restart production at our operations in Ukraine, upon completion of the Fundraise.

We welcome new international investors including a new cornerstone investor as a shareholder to our register and are grateful to our largest shareholder for its continued support as well as its undertaking to vote in favour of the Fundraise at the upcoming general meeting. The investor interest received during this Fundraise reflects the confidence in Ferrexpo's long-term fundamentals, the resilience of our operations and workforce, and the critical role that the Group continues to play in Ukraine.

With an enhanced liquidity position, we can recommence exports to European and international customers and restore the deferred expenditure across the Group's operations which is needed to expand production, when external conditions allow. The proceeds will also crucially help secure thousands of jobs that are central to Ferrexpo, our local communities and the wider Ukrainian economy.

Today's announcement also allows the Group's shares to resume trading on the London Stock Exchange. Our London listing, which we have held since 2007, remains an important part of our constant commitment to high standards of corporate governance, transparency and accountability, while providing investors with the protections and the confidence expected of an international public company."

A total of 269,309,091 new Ordinary Shares (the "Placing Shares") have been placed by Panmure Liberum Limited ("Panmure Liberum") and Peel Hunt LLP ("Peel Hunt" and, together with Panmure Liberum, the "Joint Bookrunners") at a price of 16.5 pence per Placing Share (the "Issue Price"), with existing and new institutional investors (the "Placing").

As part of the Placing, the Company received a cornerstone commitment in respect of US$50 million from Andriy Verevskyi, who will hold 224,424,242 new Ordinary Shares upon completion of the Fundraise.

The Joint Bookrunners are acting as joint global coordinators and joint bookrunners in relation to the Placing. The Placing was oversubscribed, reflecting strong investor demand for the Placing Shares.

In addition, the Company's largest shareholder, Fevamotinico S.a.r.l. ("Fevamotinico") has agreed to subscribe for an aggregate of 179,539,393 new Ordinary Shares (the "Subscription Shares") at the Issue Price pursuant to a subscription agreement entered into with the Company (the "Subscription").

The Placing and the Subscription in aggregate comprised 448,848,484 new Ordinary Shares, raising aggregate gross proceeds of approximately US$100 million.

The Issue Price of 16.5 pence represents a discount of approximately 42.3 per cent. to the closing share price of 28.6 pence on 30 April 2026 (being the last day of trading in the Ordinary Shares before their suspension from listing and trading at 7.30 a.m. on 1 May 2026).

The Placing Shares and the Subscription Shares (together, the "New Ordinary Shares") represent approximately 73.1 per cent. of the Company's existing issued Ordinary Share capital prior to the Fundraise.

The New Ordinary Shares will be admitted to the equity shares (commercial companies) category of the Official List of the Financial Conduct Authority (the "FCA") and an application will be made for the New Ordinary Shares to be admitted to trading on the main market for listed securities of London Stock Exchange plc ("London Stock Exchange") (together, "Admission"). It is anticipated that Admission will become effective, and that dealings in the New Ordinary Shares will commence, at 8.00 a.m. (London time) on 22 September 2026.

The New Ordinary Shares will, when issued and fully paid, rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid on or in respect of the Ordinary Shares after the date of their issue. The New Ordinary Shares will be issued in registered form and will be capable of being held in both certificated and uncertificated form. It is expected that the New Ordinary Shares will be delivered in uncertificated form through CREST on Admission.

The Fundraise remains conditional on, amongst other matters, the passing of the resolutions in connection with the Fundraise (the "Resolutions") by shareholders at the general meeting of the Company at which the Resolutions are to be proposed, which will be held at 11.00 a.m. on 21 September 2026 (the "General Meeting"). The Circular and notice of the General Meeting are expected to be posted to shareholders later today.

The net proceeds of the Fundraise will strengthen the Group's liquidity position and support the resumption and continuation of operations during a period of ongoing operational and financial constraints, as more fully described in the Company's announcement of 3 September 2026 titled "Proposed equity fundraise to raise US$100 million" (the "Launch Announcement").

Irrevocable Undertaking

In connection with the Fundraise, Fevamotinico has entered into a deed of irrevocable undertaking with the Company pursuant to which it has committed, subject to the terms and conditions contained therein, to vote in favour of all of the Resolutions to be proposed at the General Meeting in respect of its holding of 294,680,305 Ordinary Shares, representing 49.27 per cent. of the existing Ordinary Shares in issue (excluding Ordinary Shares held in treasury) as at the Latest Practicable Date.

Resumption of Trading on the London Stock Exchange

As set out in the Launch Announcement, the Company's Ordinary Shares have been suspended from listing and trading since 7.30 a.m. on 1 May 2026. Following completion of the audit and publication of the annual report and accounts on 3 September 2026, the suspension of listing is expected to be lifted at 7.30 a.m. on 7 September 2026 to allow the Ordinary Shares to resume trading from that time.

Expected Timetable of Principal Events

All references to times in this Announcement are to the time in London, United Kingdom. Each of the times and dates in the expected timetable above may be either extended or brought forward. Any changes to the expected timetable set out above will be notified to the market by the Company via a regulated information service, a service authorised by the FCA to release regulatory announcements to the London Stock Exchange.

Unless otherwise indicated, capitalised terms in this Announcement have the meaning given to them in Appendix E of the Launch Announcement.