CHANGES REGARDING AFARAK GROUP PLC’S TREASURY SHARES

Aug 29th, 2022 3:19 EST

08:15 London, 10:15 Helsinki, 29 August 2022 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

CHANGES REGARDING AFARAK GROUP PLC’S TREASURY SHARES

Stock Exchange Release

On 18 August 2022, Afarak released information regarding directed share issue relating to Arrangement to decrease the amount of Afarak Group’s external debt burden.

Afarak has now executed the directed share issue relating to the arrangement and total of 13,132,477 treasury shares have been transferred in such a way that the shares are not anymore held by the Company or by its subsidiary.

After the execution, 7,041,514 treasury shares shall remain in the possession of Afarak, representing approximately 2.64 per cent of the total shares and votes of the Company.

Helsinki, August 29, 2022

AFARAK GROUP PLC

Board of Directors

For additional information, please contact:

Afarak Group Plc

Guy Konsbruck, CEO, +356 2122 1566, [email protected]

Financial reports and other investor information are available on the Company's website: www.afarak.com.

Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on NASDAQ Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).

Distribution:NASDAQ HelsinkiLondon Stock ExchangeMain media

www.afarak.com

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