Rana Gruber ASA: preliminary key figures for the fourth quarter 2025 and FY 2025.

26 Jan 2026 07:00 CET

Mo i Rana, 26 January 2025: Rana Gruber ASA (“Rana Gruber”) today publishes
preliminary key figures for the fourth quarter 2025 and the full year 2025. This
information is published to ensure equal access to relevant financial
information ahead of the upcoming offer period in connection with the voluntary
cash tender offer by Champion Iron Limited, through Drakkar BidCo AS, to acquire
all issued and outstanding shares in Rana Gruber, as described in the stock
exchange announcement published on Rana Gruber's ticker on 21 December 2025 at
21:00 CET. Further reference is made to the production update published by Rana
Gruber on 12 January 2026.

Final figures for the fourth quarter and full year 2025 will be published at
08:00 CET on 12 February 2025, followed by a live webcast presentation and Q&A
session at 09:00 CET.

- Building a strong platform for long term value creation -
2025 represented an important year of delivery and strategic progress for
Rana Gruber. The company continued to execute on its long term strategy of
supplying high quality iron ore products to a steel industry undergoing
structural transformation, while maintaining stable production volumes close to
capacity and advancing key quality initiatives.

A significant milestone was reached with the successful completion of the Fe65
project, confirming the quality of Rana Gruber’s resource base and the strength
of its operating model. Stable production at higher iron content strengthens the
company’s competitive position and supports improved price realisation over
time. Moving forward, Rana Gruber has a clear ambition to achieve high‑grade
iron ore production (Fe67), addressing growing demand for raw materials that
enable low‑emission steel production.

Magnetite volumes continued to increase throughout the year, further enhancing
product mix flexibility and long term value creation, and the company is well on
track to achieve sustainable magnetite production of around 200 000 tonnes from
2026.

- Key highlights from the fourth quarter and full year 2025 -
• Production for the full year 2025 reached 1.81 million metric tonnes, in line
with capacity and comparable to 2024 levels, reflecting underlying operational
stability and excellence over time.

• Fourth quarter results were impacted by production disruptions and lower
recovery following continued quality improvements. Total production in the
period amounted to 428 000 metric tonnes, compared with 478 000 metric tonnes in
the corresponding period last year.

• Full year 2025 revenues amounted to NOK 1.565 million, down 5.9 percent from
2024. Fourth quarter revenues were NOK 413 million, compared with
NOK 443 million in the corresponding period last year.

• Operating costs in the fourth quarter were somewhat elevated primarily due to
by higher energy costs and NOK 6.5 million in non‑recurring transaction costs
related to the ongoing voluntary offer by Champion Iron.

• Lower production in the quarter resulted in cash costs per tonne above
long-term target range. For the full year 2025, cash costs were NOK 1.083
million, slightly above last year NOK 1.073 million.

For more information and numbers see attachment.

For more information, please contact:
Gunnar Moe, CEO
+47 941 47 650
Gunnar.moe@ranagruber.no

Erlend Høyen, CFO
+47 902 02 741
Erlend.hoyen@ranagruber.no
About Rana Gruber

Rana Gruber is a Norwegian iron ore producer established in 1964, with
operations based on more than 200 years of mining experience. The company's
products are based on natural mineral resources, which are processed and
exported to customers worldwide. Key customers include steel producers and
participants in the chemical industry. The company has about 370 employees and a
production capacity of 1.8 million metric tons of iron ore concentrates.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements according
to section 5-12 of the Norwegian Securities Trading Act. The information was
submitted for publication by Vegard Nerdal, Investor Relations on 26 January
2026 at the time set out above.

More information:
Access the news on Oslo Bors NewsWeb site

664159_Rana Gruber preliminary Q4 and FY 2025 results.pdf