Adjusted sales totaled 761 ME in Q1 2024, including the proportional contribution of Weda Bay, down 19% (-22% on a like-for-like basis, with +2% currency effect).

Manganese sales were up 2% to 448 ME in Q1 2024. Ore sales are up 22% to ME254.
Alloys sales are down 16% to ME193.

Global carbon steel production is expected to increase slightly in 2024. Ore demand could be down slightly over the year, given the expected destocking of manganese alloys in China.

Adjusted sales for the Nickel business amount to ME259, including the proportional contribution of PT Weda Bay Nickel.

Demand for primary nickel is expected to rise in Q2 compared with the previous quarter.

Adjusted EBITDA is expected to be between ME750 and ME900 in 2024 for the Group as a whole. The amount of capital expenditure financed by the Group in 2024 is confirmed at between 700 ME and 750 ME.

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