13:20 London, 15:20 Helsinki, 21 June 2023 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)

CHANGES IN THE SENIOR MANAGEMENT OF AFARAK GROUP SE

Stock Exchange Release

The Board of Directors of the Company has on its meeting held 21 June 2023 appointed Dr Roman Lurf as the CEO of the Company effective as of 1 July 2023. Dr Lurf is a mining engineer. He has been the founder and MD of LL-resources GmbH. Before that, he was CEO of AlbChrome and business development manager in Rio Tinto. The present CEO of the Company, Mr. Guy Konsbruck, will continue to serve the company as group COO as of 1 July 2023.

The Board of Directors of the Company has appointed Ms. Kylie Gauci as group CFO as of 1 July 2023. Ms. Gauci is a certified public accountant. She joined Afarak in 2014 and has been the Group Finance Manager since 2020.

Furthermore, the Board of Directors of the Company also appointed Dr Stefano Bonati as Chief Compliance Officer and Corporate Secretary, as of 1 July 2023. Dr Bonati has a PHD in chemistry and joined the company in 2008. He has filled various managerial positions in Afarak in the last years. Before that Dr Bonati worked with the Italian chrome chemical producer STOPANI.

Helsinki, 21 June 2023

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com

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