CONVERSION OF AFARAK GROUP PLC INTO AN EUROPEAN...

12:15 London, 14:15 Helsinki, 29 August 2022 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

CONVERSION OF AFARAK GROUP PLC INTO AN EUROPEAN COMPANY (SE) WILL BE REGISTERED ON 2 SEPTEMBER 202 2

Stock Exchange Release

On June 25, 2019, Afarak published the decision of the Annual General Meeting to convert the Company into a European company.

All the preconditions for registration of a European company (SE) have now been fulfilled as in accordance with Section 20a of the Decree on Trade Register (208/1979) the arrangements for employee involvement as required by the Council Directive 2001/86/EC have been agreed in accordance with Article 12 of the Council Regulation N:o 2157/2001 and the Finnish Act on Employee Involvement in European Companies and Co-operation Societies as well as in a cross-border merger or division of companies (758/2004).

The Company announces that the conversion of Afarak into a European Company (SE) will be registered in the Trade Register on 2 September 2022 and the Company will therefore also change its name to Afarak Group SE.

Conversion into an SE does not affect the Company’s domicile, location of the head office or the employees’ employment contracts. The role of shareholders will also remain unchanged.

Helsinki, August 29, 2022

AFARAK GROUP PLC

Board of Directors

For additional information, please contact:

Guy Konsbruck, CEO, [phone], [e-mail]

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 Helsinki
London Stock Exchange
Main media

www.afarak.com