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

14:15 London, 16:15 Helsinki, 27 February 2023 - 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 received on 27 February 2023 from Aida Djakov and the company Atkey Limited (“Atkey”), in which Aida Djakov has a controlling interest, a flagging notification pursuant to Chapter 9, Section 5 of the Finnish Securities Markets Act, according to which:

1. Aida Djakov’s portion of the Company’s shares and votes has exceeded the thresholds of 5, 10, 15, and 20 per cent; and
2. Atkey’s portion of the Company’s shares and votes has fallen below the thresholds of 5, 10, 15 and 20 per cent.

According to the notification, Aida Djakov holds 61,926,701 Afarak shares as a result of a transaction carried out on 27 February 2023, which is equivalent to approximately 23.19 per cent of the shares and votes of Afarak.

According to the notifications, Atkey Limited no longer holds any Afarak shares.

Afarak has one series of shares, and each share carries one vote. The percentages in the notifications have been calculated using Afarak’s total number of registered shares, 267,041,814.

Aida Djakov’s flagging notification 27 February 2023

	% 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	23.19	0	23.19	267 041 814
Position of previous notification (if applicable)

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	61 926 701	0	23.19	0
SUBTOTAL A	61 926 701		23.19

Information in relation to the person subject to the notification obligation:

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Name	% of shares and voting rights	% of shares and voting rights through financial instruments	Total of both
Aida Djakov	23.19	0	61 926701

Additional information:

As a result of a transaction regarding 61 926 701 shares carried out on 27 February 2023 Atkey Limited, a company controlled by Aida Djakov does not own any shares in Afarak Group SE.

Helsinki, February 27, 2023

AFARAK GROUP SE

Board of Directors

For additional information, please contact:

Afarak Group SE

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

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