TiZir Limited ('TiZir' or the 'Company') owns 90% of the Grande Côte mineral
sands operation ('GCO') in Senegal, West Africa and 100% of the TiZir Titanium &
Iron ilmenite upgrading facility ('TTI'), in Tyssedal, Norway. TiZir is owned by
Eramet and consolidated in the Group's accounts since July 1st, 2018. 

Eramet and Tronox Holdings plc. ("Tronox") signed an agreement on 14 May 2020
for the sale of 100% of the shares of TTI (TiZir Titanium & Iron AS, "TTI"),
TiZir's Norwegian plant, to Tronox. As announced to the market on January 4th,
2021, the UK Competition and Markets Authority ("CMA") decided to refer the
proposed acquisition to a Phase 2 investigation unless an offer of satisfactory
remedies is made by Tronox.

Eramet has learned today that, despite Tronox's proposal of substantial
remedies, the CMA has decided to refer the proposed acquisition to a Phase 2
investigation.

Following the CMA's decision, Tronox gave Eramet notice unilaterally terminating
its agreement to acquire the TTI business which subsequently stops the sale
process. This termination will trigger the payment by Tronox of a USD 18 million
break fee. 

The Eramet press release is available at www.eramet.com.

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