Ferrexpo : Production Report for 1Q 2021

8 April 2021

Ferrexpo plc

('Ferrexpo' or the 'Company' or the 'Group')

Production Report for 1Q 2021

Summary:

· COVID-19 update: Ferrexpo's operations and logistics continued to operate with minimal impact during 1Q 2021.

· Total iron ore pellet production of 2.7 million tonnes ('Mt'), representing a year on year result in line with pellet production in 1Q 2020, and 12% below 4Q 2020, reflecting ongoing pelletiser upgrade work.

o Upgrade work completed on one pelletiser line in 1Q 2021 and further work underway in 2Q 2021.

o The Group expects overall pelletiser capacity to increase by 0.5-1.0 Mt per annum following completion of this work.

· Production of high-quality pellets (65% Fe and 67% Fe) represented 100% of total pellet output in 1Q 2021 (1Q 2020: 97%).

· Company also recorded additional production of 65,000 tonnes of high-grade concentrate for sale in 1Q 2021, linked to the commissioning and ramp up of the Company's concentrate stockyard project.

(000' tonnes, unless stated otherwise)	Product Grade	1Q 2021	vs. 4Q 2020	vs. 1Q 2020	YTD (3M 2021)	vs. 3M 2020
Total commercial production (comprising pellets & concentrate)		2,779	(10%)	+2%	2,779	+2%
Pellet production		2,714	(12%)	(0.4%)	2,714	(0.4%)
Pellet production comprised of:
o Direct Reduction ('DR') Pellets	67% Fe	35	(77%)	-	35	-
o Ferrexpo Premium Pellets	65% Fe	2,679	(9%)	+1%	2,679	+1%
o Ferrexpo Basic Pellets	62% Fe	-	-	(100%)	-	(100%)
Commercial concentrate production	67% Fe	65	-	-	65	-

Note: all production shown in table above from own ore; no production from third party materials.

Forfurther information, please contact:

Ferrexpo:
Rob Simmons	[e-mail]	[phone]
Tavistock:
Jos Simson Emily Moss Gareth Tredway	[e-mail]	[phone] [phone]

Notes to Editors:

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2020, the Group produced 11.2 Mt of iron ore pellets, a 7% increase on the prior year. The Company is ranked as the world's 3^rd largest exporter of pellets to the global steel industry with a market share of approximately 9%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit www.ferrexpo.com.