Launch of (A) Offer to Exchange the 9⅜% Senior Notes Due 2022 for a Combination of New 9⅜% Senior Secured Notes Due 2025 and Equity Fee, (B) Consent Solicitation Relating to the 9⅜% Senior Notes Due 2022 and (C) Offer to Subscribe for Additional 9.0% Sen

LONDON, June 23, 2021 (GLOBE NEWSWIRE) --

Exchange Offer and Consent Solicitation

Ferroglobe PLC (the “Parent”), Ferroglobe Finance Company, PLC (the “UK Issuer”) and Globe Specialty Metals, Inc. (“Globe” and, together with the UK Issuer, the “Issuers”) are offering to qualifying noteholders the opportunity to exchange (the “Exchange Offer”) any and all of the 9⅜% Senior Notes due 2022 issued by the Parent and Globe (the “Old Notes”) for a total consideration per $1,000 principal amount of Old Notes comprising (i) $1,000 aggregate principal amount of new 9⅜% senior secured notes due 2025 to be issued by the Issuers (the “New Notes”) plus (ii) a cash fee, which the Parent will, at the direction of the qualifying noteholders (which direction shall be deemed to be given by such qualifying noteholders participating in the Exchange Offer and Consent Solicitation), apply as cash consideration for a subscription of new ordinary shares of the Parent (the “Equity Fee”), as set forth in the table below, or in any other manner that the Ad Hoc Group (as defined below) may agree with the Parent.

Old Notes to be Exchanged	Outstanding Principal Amount		CUSIP Numbers and ISINs	Total Exchange Consideration(1)(2)
9⅜% Senior Notes due 2022	$350,000,000		144A: 315419 AA9 / US315419AA96 Reg S: G33858 AA2 / USG33858AA20	$1,000 principal amount of New Notes and the Equity Fee

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(1)   For each $1,000 principal amount of Old Notes.

(2)   The Equity Fee represents the cash fee for each $1,000 principal amount of Old Notes, which the Parent will, at the direction of the qualifying noteholders (which direction shall be deemed to be given by such qualifying noteholders participating in the Exchange Offer and Consent Solicitation), apply as cash consideration for a subscription of new ordinary shares of the Parent, to amount in aggregate to 1.75% of the ordinary shares in the Parent after giving effect to the Restructuring (as defined below), to be allotted proportionally among the participating qualifying noteholders.