Rana Gruber has today published the production update for the fourth quarter of
2024.

The production of iron ore concentrates for the fourth quarter reached 478.000
metric tons, surpassing the previous year's production of 452.000 metric tons.
Also, the production of magnetite continued its strong trend, ending at 54.000
metric tons, up from 17.000 metric tons last year. This achievement marks an
all-time high production of 1.848.000 metric tons concentrate, exceeding last
year's record of 1.817.000 metric tons.

Volume sold in the fourth quarter of hematite was 492.000 metric tons. This
corresponds to eight shipments of approx. 60.000 metric tons. Final settlement
of these eight shipments will be January (4), February (1) and March (3). One of
the shipments scheduled for settlement in January was delivered to Asia and will
be subject to higher freight costs compared to the remaining shipments.

In total for 2024, Rana Gruber achieved a record high number of shipments, with
a total of 71 shipments delivering hematite and magnetite to our global
customers.

Rana Gruber ASA will present its fourth quarter results on 13 February at 08:00
CET via a webcast. The presentation and financial report will be published prior
to the presentation.

See attachment for more information.