AFARAK GROUP SE

NOTIFICATION PURSUANT TO CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT

09:00 London, 10:00 Helsinki, 29 February 2024 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

AFARAK GROUP SE: NOTIFICATION PURSUANT TO CHAPTER 9, SECTION 10 OF THE FINNISH SECURITIES MARKETS ACT

Stock Exchange Release

Afarak Group SE has on 29 February 2024 made a flagging notification to FIN-FSA pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act. According to the flagging notification Afarak’s portion of the Company’s shares has exceeded the threshold of 5 per cent.

According to the notification, Afarak holds 16,041,514 treasury shares in Afarak, which corresponds to approximately 5.79 % of the total shares in Afarak. This is based on the fact that a total of 10,000,000 new shares issued on the basis of the directed share issuance without payment to the Company itself decided by Afarak’s Board of Directors on February 14, 2024 based on the authorization granted by Afarak’s Annual General Meeting on June 21, 2023 have been registered in the Trade Register today.

Total positions of person subject to the notification:

	% shares and voting rights	% of shares and voting rights through financial instruments	% of total	Total number of shares and voting rights of issuer
Resulting situation on the date on which threshold was crossed or reached	5.79	0	5.79	277 041 814
Position of previous notification (if applicable)	2.64	0	2.64

Information on amounts regarding shareholding and voting rights following when the threshold was crossed:
A: Shares and voting rights:

Class/type of shares	Number of shares and voting rights		% of shares and voting rights
	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)	Direct (SMA 9:5)	Indirect (SMA 9:6 and 9:7)
FI0009800098	16 041 514	0	5.79	0
SUBTOTAL A	16 041 514		5.79

Helsinki, February 29, 2024

AFARAK GROUP SE

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