REG-CORRECTION: AFARAK GROUP: PRODUCTION REPORT Q3 2025

Afarak SEAnnouncement

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07:00 London, 09:00 Helsinki, 24 October 2025 - Afarak Group SE (“Afarak”
or “the Company”) (LSE: AFRK, NASDAQ: AFAGR)

Correction: Production report Q3 2025

Correction: Mining and Processing tonnages were reported in the wrong
categories in the previous production report.

Afarak Group continued to show increased output in the specialty segment with
a 28.3% higher production compared to the same period 2024.

The South African Mining activity is naturally reduced, due to the sale of the
Zeerust mine during the second quarter of this year. We have also engaged in
major preparation work, both in Vlaakport and Mecklenburg mines, causing a
reduced mining activity during Q3 2025.

This is shown in Afarak Group overall production during the third quarter of
2025, which was lower by 51.4% when compared to same period of last year.

                                                                                             
                            Q3/2025  Q3/2024  Change  YTD 2025  YTD 2024  Change  FY 2024    
                                                                                             
   Speciality Alloys    mt  23,952   18,669   28.3%   80,106    65,051    23.1%   87,908     
   Processing           mt  6,039    4,273    41.3%   21,966    18,726    17.3%   22,963     
   Mining               mt  17,913   14,396   24.4%   58,141    46,324    25.5%   64,945     
   South African mines  mt  28,932   90,165   -67.9%  138,114   246,193   -43.9%  300,985    
   Mining               mt  28,932   90,165   -67.9%  138,114   246,193   -43.9%  300,985    
                                                                                             

Processing
* The processing volumes increased by 41.3% during the third quarter of 2025
when compared to same quarter of last year.
Mining
* The South African mining activity dropped by 67.9% when compared to same
period of last year. This led to a decrease in the overall group’s mining
activity during the quarter under review.
* The mining activity at the Turkish mines increased significantly by 24.4%
over the same period of 2024.
      Outlook for Q4 2025

      Demand: The demand for Cr Ore remains strong and sustained in
China. The decision of the major South African ferro-chrome players to
massively reduce the production naturally leads to a higher export of ore, and
an increased production of ferro-chrome in China. The relatively low activity
of stainless steel producers in the Western world, continues to hamper the
demand for FeCr in these territories.

      Price Trends: Cr Ore prices in China have again improved during Q3
2025. The world market prices for both high and low carbon ferrochrome are
also recovering gradually.

      Challenges and Opportunities: Chrome products being US$
commodities, we certainly feel the weakening of the US currency in our bottom
line. New discussions about a possible export quota for Cr Ore out of South
Africa have recently restarted.

Helsinki, October 24, 2025

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

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

Attachment
*     Afarak_Production report_2025_Q3_EN.1
(https://ml-eu.globenewswire.com/Resource/Download/5b0fee04-4ee4-40d7-a40a-d9e125f94eb9)