UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the Month of ~~February~~May 2026

Commission File Number: 001-37668

FERROGLOBE PLC

(Name of Registrant)

13 Chesterfield Street,

London W1J 5JN, United Kingdom

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒

Form 40-F ☐

This Form 6-K consists of the following materials, which appear immediately following this page:

● Press release dated ~~February~~May 175, 2026 announcing results for the quarter ~~and year~~ ended ~~December~~March 31, ~~2025~~2026

● ~~Fourth~~First quarter ~~and~~2026 ~~full year 2025~~ earnings call presentation

This Form 6-K is being furnished for the purpose of incorporating by reference the information in this Form 6-K into (a) Registration Statement No. 333-208911 on Form S-8, and (b) Registration Statement No. 333-258254 on Form F-3 and related prospectuses, as such registration statements and prospectuses may be amended from time to time.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Date: February 17, 2026
	Date: May 5, 2026
	FERROGLOBE PLC
	by	/s/ Marco Levi
		Name: Marco Levi
		Title: Chief Executive Officer (Principal Executive Officer)

Ferroglobe Reports ~~Fourth~~First Quarter ~~and~~2026 ~~Full Year 2025~~ Financial Results

~~Fourth~~First Quarter ~~and Full Year~~ Highlights

●• EUStrong ~~ferroalloy~~increase ~~safeguard measures implemented~~ in ~~November~~ferroalloys ~~are~~due ~~reducing~~to ~~import~~trade ~~pressure~~measures and ~~supporting~~increasing ~~improving~~steel ~~market~~production ~~conditions~~ in ~~Europe~~the U.S.

●• ~~Positive~~EU ~~momentum~~Trade inCommissioner ~~U.S.~~committed ~~silicon~~to ~~metal~~helping ~~trade~~the ~~case,~~silicon ~~with~~metal ~~encouraging preliminary antidumping and countervailing duty determinations~~industry

●• ~~Reporting~~Actively ~~fourth~~pursuing ~~quarter~~a ~~adjusted~~potential ~~EBITDA~~restart of ~~$14.6~~cost-competitive ~~million~~Venezuelan operations

●• ~~New~~Expertise ~~10-year~~in ~~French~~critical ~~energy~~materials ~~contract~~unlocks ~~reduces~~new ~~cost~~growth ~~volatility~~opportunities as the U.S. and ~~increases~~EU ~~flexibility~~policy pivots toward domestically anchored supply chains

●• ~~Ended~~Reporting ~~the~~first ~~year~~quarter ~~with~~adjusted ~~total~~EBITDA ~~cash~~ of $~~123~~3.03 million ~~and net debt of $29.8 million, reflecting a strong balance sheet to support growth~~

●• ~~Announcing~~Ended athe 7%quarter ~~increase~~with intotal ~~the~~cash ~~quarterly~~of ~~dividend to~~ $096.~~015~~4 ~~per~~million ~~share,~~and ~~payable~~net ondebt ~~March~~of 30$54.6 million

•

Paid quarterly dividend of $0.015 per share on March 30; Next dividend of $0.015 payable on June 29

LONDON, ~~February~~May 175, 2026 (GLOBE NEWSWIRE) – Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company”, or the “Parent”), a leading global producer of silicon metal, silicon-based and manganese-based specialty alloys, today announced financial results for the ~~fourth~~first quarter ~~and~~of ~~full year 2025~~2026.

Financial Highlights


					%				%						%
($ in millions, except EPS)	Q4Q1 ~~2025~~2026		Q3Q4 2025		Q/Q		Q4Q1 ~~2024~~2025		Y/Y		~~YTD 2025~~		~~YTD 2024~~		~~Y/Y~~

Sales	$	~~329~~347.47	$	~~311~~329.74		5.76%	$	~~367~~307.52		~~(10~~13.4)2%	$	~~1,335.1~~	$	~~1,643.9~~		~~(18.8)%~~
Net (loss) income attributable to the parent	$	(81.0)	$	(12.8)		(531.9)%	$	(28.1)		(187.7)%	$	(170.7)	$	23.5		(825.2)%
Net (loss) attributable to the parent	$	(7.1)	$	(81.0)		91.3%	$	(66.5)		89.4%
Adj. EBITDA	$	143.63	$	1814.36		(2077.1)%	$	9(26.8)		48112.25%	$	~~27.6~~	$	~~153.8~~		~~(82.0)%~~
Adjusted diluted EPS	$	(0.0607)	$	(0.0206)		(~~163~~1.6)%	$	(0.0320)		~~(344~~66.5)8%	$	~~(0.39)~~	$	~~0.28~~		~~(237.9)%~~
Operating cash flow	$	(45.36)	$	20(4.83)		(~~120~~29.69)%	$	3219.14		(~~113~~128.47)%	$	~~51.5~~	$	~~243.3~~		~~(78.8)%~~
Capital expenditures1	$	1410.29	$	1914.12		(2523.7)%	$	1714.93		(2024.71)%	$	~~63.3~~	$	~~79.2~~		~~(20.1)%~~
Free cash flow2	$	(1816.54)	$	1(18.65)		~~(1234~~11.7)3%	$	145.1		(~~230~~424.83)%	$	~~(11.8)~~	$	~~164.1~~		~~(107.2)%~~

(1)

Cash outflows for capital expenditures

(2)

Free cash flow is calculated as operating cash flow less capital expenditures

Dr. Marco Levi, Ferroglobe’s Chief Executive Officer, commented, “~~While~~We ~~market~~delivered ~~conditions~~a ~~remained~~strong ~~challenging~~increase in ~~the~~first ~~fourth~~ quarter, weferroalloy ~~are~~shipment ~~encouraged~~volumes byin both the ~~clear~~EU ~~progress~~and onthe ~~trade~~U.S, ~~enforcement~~driven ~~that~~primarily isby ~~reshaping~~recently ~~the~~enacted ~~competitive~~trade ~~landscape~~measures. ~~The~~While ~~strong~~volumes ~~preliminary~~improved, ~~decision~~pricing indid ~~the~~not ~~U.S.~~keep ~~silicon~~pace ~~metal~~with ~~antidumping~~higher ~~and countervailing duty case~~costs, ~~together~~particularly ~~with~~in ~~the~~logistics ~~finalization~~and ofraw EUmaterials, ~~trade~~resulting ~~measures,~~in ~~meaningfully~~margin ~~strengthen~~compression. ~~the~~We ~~outlook~~view ~~for~~these ~~2026.~~cost ~~These~~pressures ~~actions~~as ~~should~~temporary ~~enable~~and ~~domestic~~expect ~~producers~~pricing conditions to ~~regain~~improve ~~market~~in ~~share~~the ~~and~~second ~~support~~half ~~healthier~~of ~~market~~the ~~conditions~~year.

“AsWe asee ~~leading~~significant ~~domestic~~opportunities ~~producer~~to indiversify both ~~Europe~~our footprint and ~~the~~product Umix, directly supporting our long-term strategic growth strategy.S. In Venezuela, ~~and~~we ~~with~~own afour ~~strong~~furnaces ~~balance~~with ~~sheet~~more than 100,000 ~~disciplined~~tons ~~cost~~of ~~control~~incremental capacity, ~~and~~with athe ~~competitive~~flexibility ~~long-term~~to ~~French~~produce ~~energy~~across ~~agreement~~all inour ~~place~~core product segments. Beyond this, we are ~~optimistic~~actively ~~that~~evaluating ~~2026~~which ~~will~~critical ~~mark~~materials aare ~~substantial~~most ~~improvement~~economically inviable ~~market~~to ~~conditions~~produce, leveraging our established Western footprint and ~~financial~~past ~~performance~~production experience. The newly signed U.S. and EU strategic partnership on critical materials signals a structural shift, strengthening our position as markets increasingly prioritize secure, domestic supply chains for ~~Ferroglobe~~strategic materials,” concluded Dr. Levi.

Consolidated Sales

In the ~~fourth~~first quarter of ~~2025~~2026, Ferroglobe reported sales of $~~329~~347.47 million, a 5.76% increase from the prior quarter and a 1013.42% ~~decrease~~increase from the comparable prior-year period. ~~The~~This ~~sequential~~ improvement was mainly driven by higher sales volumes of silicon-based alloys and manganese-based alloys, as well as a higher average selling price for manganese-based alloys, partially offset by lower ~~silicon metal~~ volumes and ~~lower~~average ~~pricing~~selling ofprice for silicon~~-based~~ ~~alloys~~metals. ~~and manganese~~Silicon-based alloys. ~~Silicon metal~~ prices remained stable during the quarter. Sales of silicon metal decreased by $212.54 million from the prior quarter, while silicon-based alloys and manganese-based alloys increased by $1118.27 million and $814.25 million, respectively, compared with the prior quarter.

For the full year 2025, sales were $1,335 million versus $1,644 million in the prior year, a decrease of 18.8%. This decrease was mainly driven by a 40.8% and 1.4% decrease in silicon metal and silicon-based alloys revenue, respectively, partially offset by a 7.5% increase in manganese-based alloys revenues.

Product Category Highlights

Silicon Metal

($,000)

Q4Q1 ~~2025~~2026

Q3Q4 2025

% Q/Q

Q4Q1 ~~2024~~2025

% Y/Y

~~YTD 2025~~

~~YTD 2024~~

~~% Y/Y~~

Shipments in metric tons:

3230,~~634~~533

3332,~~561~~634

(26.84)%

4936,~~797~~308

(3415.59)%

~~147,112~~

~~222,762~~

~~(34.0)%~~

Average selling price ($/MT):

2,~~957~~754

2,~~950~~957

0(6.29)%

32,~~240~~881

(84.74)%

~~2,924~~

~~3,262~~

~~(10.4)%~~

Silicon Metal Revenue

9684,~~499~~088

9996,~~005~~499

(212.59)%

~~161~~104,~~342~~603

(4019.26)%

~~430,155~~

~~726,650~~

~~(40.8)%~~

Silicon Metal Adj.EBITDA

~~885~~(2,275)

~~11,614~~885

(92357.41)%

16(15,~~849~~447)

(9485.73)%

~~3,573~~

~~108,058~~

~~(96.7)%~~

Silicon Metal Adj.EBITDA Margin

0(2.97)%

110.79%

10(14.48)%

~~0.8%~~

~~14.9%~~

Silicon metal revenue in the ~~fourth~~first quarter was $9684.51 million, a decrease of 212.59% from the prior quarter. The average selling price ~~increased~~decreased 06.29%, driven by ~~higher~~lower pricing in the U.S. and ~~South~~Europe ~~Africa,~~amid ~~partially~~a ~~offset~~more bycompetitive ~~softer~~market ~~pricing~~environment inand ~~Europe,~~cautious ~~where~~customer ~~demand~~purchasing ~~remained~~in ~~subdued~~key end-markets, particularly in ~~the~~Europe, ~~chemical~~partially ~~sector~~offset by a slight increase in South Africa. Shipments decreased 26.84%, ~~mainly~~primarily reflecting lower volumes in ~~the U.S.~~EMEA, partially offset by higher volumes in ~~EMEA~~the U.S. Adjusted EBITDA decreased to $0(2.93) million in the ~~fourth~~first quarter, compared with $110.69 million in the prior quarter, ~~primarily~~reflecting ~~due to~~ lower ~~volumes~~realized pricing and ~~reduced~~shipments, ~~fixed~~partially offset by strong cost ~~absorption,~~performance ~~mainly~~in ~~related~~Canada. Adjusted EBITDA margin decreased to ~~furnace~~(2.7%) ~~shutdowns~~in the first quarter from 0.9% in ~~France~~the prior quarter.

Silicon-Based Alloys

($,000)

Q4Q1 ~~2025~~2026

Q3Q4 2025

% Q/Q

Q4Q1 ~~2024~~2025

% Y/Y

~~YTD 2025~~

~~YTD 2024~~

~~% Y/Y~~

Shipments in metric tons:

5160,~~279~~674

4251,~~968~~279

1918.3%

3942,~~417~~864

3041.16%

~~190,159~~

~~183,030~~

~~3.9%~~

Average selling price ($/MT):

2,~~020~~016

2,~~149~~020

(6.0.2)%

2,~~159~~120

(6.4.9)%

~~2,095~~

~~2,208~~

~~(5.1)%~~

Silicon-based Alloys Revenue

~~103~~122,~~584~~319

92103,~~338~~584

1218.21%

8590,~~101~~872

2134.76%

~~398,383~~

~~404,130~~

~~(1.4)%~~

Silicon-based Alloys Adj.EBITDA

156,~~503~~850

1215,~~391~~503

25(55.18)%

32,~~093~~414

~~401~~183.28%

~~37,466~~

~~30,060~~

~~24.6%~~

Silicon-based Alloys Adj.EBITDA Margin

155.06%

1315.40%

32.67%

~~9.4%~~

~~7.4%~~

Silicon-based alloy revenue in the ~~fourth~~first quarter was $~~103~~122.63 million, an increase of 1218.21% from the prior quarter. The average selling price ~~decreased~~was ~~by 6.0%~~stable, ~~primarily~~as ~~due~~higher torealizations ~~lower~~in Europe were largely offset by softer pricing in the U.S. and ~~Europe~~South Africa, ~~partially~~where ~~offset~~market byconditions ~~higher~~remained ~~pricing in South Africa~~competitive. Shipments increased ~~by 19~~18.3%, reflecting a broad-based ~~volume~~ improvement across regions, with the ~~strongest~~most significant increase in ~~EMEA.~~the ~~In Europe~~U.S., ~~safeguard~~supported ~~measures~~by ~~implemented~~improved ondemand ~~certain~~and ~~ferroalloy~~customer ~~imports~~restocking ~~began~~in tosteel ~~reduce import pressure~~ and ~~supported~~foundry ~~order activity late in the quarter~~applications. Adjusted EBITDA ~~increased~~decreased to $156.58 million in the ~~fourth~~first quarter of ~~2025~~2026, updown ~~25.1%~~from ~~compared with~~ $1215.45 million in the prior quarter, ~~driven~~primarily byreflecting higher production costs, which more than offset the benefit from higher volumes. Adjusted EBITDA margin ~~improved~~decreased to 155.06% in the ~~fourth~~first quarter, compared with 1315.40% in the prior quarter~~, highlighting the benefits of stronger volume leverage and continued cost discipline~~.

Manganese-Based Alloys

($,000)

Q4Q1 ~~2025~~2026

Q3Q4 2025

% Q/Q

Q4Q1 ~~2024~~2025

% Y/Y

~~YTD 2025~~

~~YTD 2024~~

~~% Y/Y~~

Shipments in metric tons:

8085,~~778~~743

6980,~~552~~778

166.1%

67,~~712~~229

1927.35%

~~305,747~~

~~275,991~~

~~10.8%~~

Average selling price ($/MT):

1,~~147~~250

1,~~214~~147

(59.5)0%

1,~~159~~108

(112.0)8%

~~1,170~~

~~1,206~~

~~(3.0)%~~

Manganese-based Alloys Revenue

92107,~~652~~179

8492,~~436~~652

915.7%

7874,~~478~~490

1843.19%

~~357,724~~

~~332,845~~

~~7.5%~~

Manganese-based Alloys Adj.EBITDA

810,~~681~~014

48,~~391~~681

9715.74%

7(5,~~091~~574)

22(279.47)%

~~24,292~~

~~54,297~~

~~(55.3)%~~

Manganese-based Alloys Adj.EBITDA Margin

9.43%

59.24%

9(7.05)%

~~6.8%~~

~~16.3%~~

Manganese-based alloy revenue in the ~~fourth~~first quarter was $92107.72 million, an increase of 915.7% from the prior quarter. The average selling price ~~decreased~~increased ~~by 5~~9.50%, ~~reflecting~~driven ~~broadly~~by ~~lower~~higher pricing in Europe, partially offset by a slight decrease in the U.S. ~~and EMEA.~~ Shipments increased ~~by 16~~6.1%, ~~compared~~reflecting tosolid ~~the~~volume ~~prior~~growth ~~quarter~~in ~~driven~~Europe byas asteel-related ~~significant~~demand ~~volume~~for ~~increase~~domestic inmanganese ~~Europe~~alloys improved. InAdjusted ~~EMEA~~EBITDA increased to $10.0 million in the first quarter, ~~safeguard~~compared ~~measures~~with ~~for~~$8.7 million in the prior quarter,

~~certain~~supported ~~ferroalloy~~by ~~imports~~higher ~~began~~volumes ~~to ease import pressure~~ and ~~supported~~prices, ~~improved~~offset ~~order~~by ~~flows~~higher ~~during the quarter. Adjusted EBITDA for the~~ manganese~~-based~~ ~~alloys portfolio increased to $8.7 million for the fourth quarter~~ore, ~~compared with $4.4 million in the prior quarter~~energy, ~~driven by higher volumes~~ and ~~improved~~transportation ~~fixed cost absorption~~costs. Adjusted EBITDA margin ~~improved~~was to 9.43%, broadly in ~~the~~line ~~fourth quarter, compared~~ with 59.24% in the prior quarter~~, highlighting stronger operating leverage~~.

Raw materials and energy consumption for production

Raw materials and energy consumption for production ~~totaled~~decreased ~~$261~~to 64.63% ~~million~~of sales in the ~~fourth~~first quarter of ~~2025~~2026, compared with ~~$180~~79.4% ~~million~~ in the ~~third~~prior quarter,. ~~representing~~This animprovement ~~increase~~was ofprimarily ~~45.0%.~~driven Asby athe ~~percentage~~absence of ~~sales,~~the ~~these~~$40.2 ~~costs~~million ~~rose~~fair tovalue ~~79.4%~~loss inrelated ~~the~~to ~~fourth~~long ~~quarter~~term ofenergy ~~2025,~~contracts uprecognized ~~from 57.9%~~ in the ~~prior~~fourth quarter. ~~The~~of ~~increase~~2025, inas ~~costs~~well as athe ~~percentage~~recognition of ~~sales~~a ~~was~~positive ~~primarily~~fair ~~driven~~value byadjustment ~~temporary~~of ~~production~~$5.5 ~~curtailments~~million in ~~France,~~the ~~which~~first ~~reduced~~quarter ~~fixed-cost~~of ~~absorption~~2026. ~~and~~Improved ~~increased~~production ~~unit~~levels ~~costs,~~and asbetter ~~well~~fixed ascost aabsorption ~~$40.2~~also ~~million~~contributed ~~fair-value loss related~~ to ~~changes in~~ the ~~valuation~~sequential ~~of our long-term energy contracts, principally in France~~improvement. Excluding the impact of power purchase agreements, raw materials and energy consumption ~~for~~represented ~~production~~65.9% ~~represented~~of revenue in the first quarter of 2026, compared with 67.2% ofin ~~revenue~~the prior quarter.

For the full year 2025, raw materials and energy consumption for production totaled $933.5 million, representing 69.9% of sales, compared with $1,027.0 million, or 62.5% of sales, in 2024. The increase in costs as a percentage of sales was primarily driven by lower realized pricing, a higher energy cost environment throughout the year, and a $41.9 million fair-value loss related to changes in the valuation of our long-term energy contracts, principally in France. In addition, lower production levels in France reduced fixed-cost absorption, further increasing unit costs.

Net (Loss) Attributable to the Parent

In the ~~fourth~~first quarter of ~~2025~~2026, net loss attributable to the parent was $817.01 million, or $(0.4304) per diluted share, compared to a net loss attributable to the parent of $1281.80 million, or $(0.0743) per diluted share, in the prior quarter. The ~~quarterly~~quarter ~~results~~over ~~reflect~~quarter ~~lower~~improvement ~~realized~~was ~~pricing,~~primarily adriven by the absence of the $40.2 million negative fair- value ~~loss~~remeasurement impacts related to ~~our~~ long-term ~~French~~ energy contracts, ~~higher~~recorded ~~underlying~~in ~~energy~~the ~~costs~~fourth quarter, ~~and~~as well as the ~~impact~~absence of ~~temporary~~an ~~production~~impairment ~~curtailments~~charge inof ~~France,~~$17.7 ~~which~~million ~~reduced~~and ~~fixed~~additional ~~cost~~depreciation ~~absorption,~~of ~~offset~~$12.6 bymillion ~~higher~~recognized ~~shipment~~in ~~volumes~~the prior quarter. Results in ~~our~~the ~~alloy~~first ~~portfolio~~quarter of 2026 also benefited from improved operating leverage, ~~ongoing~~partially ~~cost~~offset ~~efficiencies~~by ~~and~~higher aselling-related ~~favorable~~expenses ~~product~~associated ~~mix~~with increased sales volumes. The Company reported adjusted diluted earnings per share of $(0.0607) for the ~~fourth~~first quarter of 2026, compared with ~~adjusted earnings per share of~~ $(0.0206) in the prior quarter.

For the full year 2025, net loss attributable to the parent was $170.7 million, or $(0.91) per diluted share, compared to a net profit attributable to the parent of $23.5 million, or $0.12 per diluted share for the full year 2024.

Adjusted EBITDA

Adjusted EBITDA ~~was~~declined to $143.63 million ~~for~~in the ~~fourth~~first quarter of ~~2025~~2026, compared to $1814.36 million for the prior quarter. ~~Adjusted~~The ~~EBITDA~~prior ~~was~~quarter ~~slightly~~benefited ~~down~~from ~~versus~~a ~~the~~one ~~previous~~time ~~quarter,~~positive ~~primarily~~impact byof ~~higher~~approximately ~~energy-~~$12 million related ~~costs~~to ~~and~~the ~~lower~~modification ~~fixed~~of ~~cost~~a ~~absorption~~lease ~~associated~~liability ~~with~~agreement. ~~temporary~~During ~~production~~the ~~curtailments~~first quarter of 2026, ~~partially~~operating ~~offset~~performance improved, supported by stronger volumes and continued cost efficiency initiatives, partially offset by higher selling and distribution costs.

For the full year 2025, adjusted EBITDA was $27.6 million, or 2.1% of sales, compared to adjusted EBITDA of $153.8 million, or 9.4% of sales, for the full year 2024. The reduction is largely related to lower realized pricing across the portfolio and a weaker performance in silicon metal, driven by a significant decline in volumes. These impacts were partially offset by higher shipment volumes in manganese-based alloys and silicon-based alloys, supported by improved demand and customer restocking in key steel related end markets.

Total Cash, Adjusted Gross Debt and Working Capital


													%
($ in millions)	Q4Q1 ~~2025~~2026		Q3Q4 2025		$		%		Q4Q1 ~~2024~~2025		$		Y/Y

Total Cash1	$	~~123~~96.04	$	~~121~~123.50		1(26.56)		1(21.26)%	$	~~133~~129.36		(1033.32)		(725.76)%
Adjusted Gross Debt2	$	~~152~~151.80	$	~~126~~152.78		~~26.~~(1.8)		20(1.62)%	$	94110.4		5840.46		6136.98%
Net (Debt) Cash	$	(2954.86)	$	(529.28)		(24.68)		(~~473~~83.13)%	$	3819.92		(6873.78)		(~~176~~384.65)%
Total Working Capital3	$	~~427~~431.52	$	~~421~~427.65		53.97		10.49%	$	~~460~~435.87		(334.35)		(71.20)%

(1)

Total cash is comprised of restricted cash and cash and cash equivalents

(2) Adjusted gross debt excludes bank borrowings on our factoring program and the impact of leasing standard IFRS16
(3) Total working capital is comprised of inventories, trade receivables and other receivables minus trade and other payables

Total cash was $~~123~~96.04 million as of ~~December~~March 31, ~~2025~~2026, upa decrease of $126.56 million from $~~121~~123.50 million as of ~~September~~December 3031, 2025. Adjusted gross debt ~~increased~~decreased by $~~26.~~1.8 million to $~~152~~151.80 million, resulting in net debt of $2954.86 million as of ~~December~~March 31, ~~2025,~~2026. This represents an increase of $24.68 million from the prior quarter.

During the ~~fourth~~first quarter, cash flows used in operating activities were $45.36 million, and net cash used in investing activities was $1317.1 million. Cash ~~provided~~used in financing activities was $183.63 million as a result of ~~principal~~lease ~~proceeds~~payments ~~from~~of ~~financing~~$3.9 ~~facilities in South Africa~~million, ~~France~~dividend ~~and~~payments ~~Spain~~of ~~totaling~~ $~~28.~~2.8 million, ~~net~~interest ~~cash~~payments ~~proceeds~~of ~~from~~$2.4 million, and the ~~sale~~principal repayments of ~~short-term~~other ~~commercial~~financing ~~paper~~liabilities ~~totaling~~of $30.17 million, partially offset byproceeds ~~lease~~from ~~payments~~financing offacilities ~~$6.5~~in ~~million~~South Africa, ~~dividend~~France ~~payments~~and ofSpain totaling $23.64 million, ~~interest~~net ~~payments~~cash ofproceeds ~~$2.9~~from ~~million, and~~ the ~~principal~~sale ~~repayments~~ of ~~other~~short-term ~~financing~~commercial ~~liabilities~~paper oftotaling $03.71 million.

For the full year 2025, the Company generated $51.5 million of operating cash flow, used $73.1 million of cash in investing activities and generated $3.4 million in financing activities.

Total working capital was $~~427~~431.52 million as of ~~December~~March 31, ~~2025~~2026, an increase of $53.97 million from $~~421~~427.65 million at the end of the prior quarter. The increase in our working capital balance during the quarter was ~~due~~primarily todriven aby ~~decrease~~increases of ~~$79.9 million in trade and other payables and an increase of $7.8 million in trade receivables, partially offset by $63.2 million and $18.5 decrease in inventories and other receivables, respectively.~~

~~Beatriz García-Cos, Ferroglobe’s Chief Financial Officer, commented, “Our performance reflects a strong emphasis on financial discipline and balance sheet strength~~$28.1 Wemillion ~~generated positive adjusted EBITDA~~ in ~~the fourth quarter~~inventories, ~~while ending the period with~~ $~~123~~20.9 million in ~~total~~trade ~~cash~~receivables, and ~~modest net debt~~$16.8 ~~This~~million ~~solid~~in ~~financial~~other ~~position~~receivables, ~~provides~~partially ~~the~~offset ~~flexibility~~by toa ~~manage~~$62.1 ~~near-term~~million ~~volatility,~~increase ~~invest selectively~~ in ~~growth~~trade ~~opportunities,~~ and ~~support~~other ~~our increased dividend as we enter 2026~~payables.”

Beatriz García-Cos, Ferroglobe’s Chief Financial Officer, commented, “We delivered solid sales in the first quarter, with revenue increasing almost 6%, driven by higher volumes in our silicon-based alloy and manganese-based alloy segments. However, lower silicon metal prices and margin compression in silicon-based alloys impacted profitability, resulting in adjusted EBITDA of $3.3 million, compared with $14.6 million in the fourth quarter. The conflict in Iran created a challenging operating environment during the quarter, with higher transportation, logistics, and raw material costs, primarily manganese ore and coal, without a corresponding improvement in our realized prices. While these pressures affected adjusted EBITDA and resulted in negative free cash flow, we maintained disciplined capital expenditure management. Importantly, we ended the quarter with a solid liquidity position, including $96.4 million of total cash and a manageable net debt level of $54.6 million.”

Capital Returns

During the ~~fourth~~first quarter, Ferroglobe ~~did~~repurchased ~~not~~5,140 ~~repurchase~~ shares at an average price of $3.90 per share and paid a quarterly cash dividend of $ 0.~~014~~015 per share on ~~December~~March 2930, ~~2025~~2026. Our next cash dividend of $0.015 per share will be paid on ~~March~~June 3029, 2026, to shareholders of record as of ~~March~~June 2322, 2026.

Conference Call

Ferroglobe invites all interested persons to participate on our conference call at 8:30 AM, Eastern Time on ~~February~~May 186, 2026. The call may also be accessed via an audio webcast.

To join via phone: Conference call participants should pre-register using this link https://register-conf.media-server.com/register/BI51f61f62f70847a4a3a2654906d1f419

~~Once~~Conference ~~registered,~~call ~~you~~participants ~~will~~should ~~receive the dial~~pre-inregister ~~numbers~~using ~~and~~this alink: ~~personal PIN required to access the conference call.~~

~~To join via webcast: A simultaneous audio webcast, and replay will be accessible here:~~https://~~edge~~register-conf.media-server.com/~~mmc~~register/~~p/73qfjudk~~BIa208b4cf9feb40e1baae1852662f7210

Once registered, you will receive the dial-in numbers and a personal PIN, which are required to access the conference call.

To join via webcast:

A simultaneous audio webcast and replay will be accessible here:

https://edge.media-server.com/mmc/p/sfxcprpy

About Ferroglobe

Ferroglobe PLC is a leading global producer of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, electronics, automotive, consumer products, construction, and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “should”,“forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “target”, “will” and words of similar meaning or the negative thereof.

Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control.

Forward-looking financial information and other metrics presented herein represent the Company’s goals and are not intended as guidance or projections for the periods referenced herein or any future periods.

All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.

Non-IFRS Measures

This document may contain summarized, non-audited or non-IFRS financial information. The information contained herein should therefore be considered as a whole and in conjunction with all the public information regarding the Company available, including any other documents released by the Company that may contain more detailed information. Adjusted EBITDA, adjusted EBITDA as a percentage of sales, working capital as a percentage of sales, adjusted EBITDA margin, working capital, adjusted net profit, adjusted diluted EPS, adjusted gross debt and net cash/(debt), are non-IFRS financial metrics that management uses in its decision making. Ferroglobe has included these financial metrics to provide supplemental measures of its performance. The Company believes these metrics are important and useful to investors because they eliminate items that have less bearing on the Company’s current and future operating performance and highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures.

INVESTOR CONTACT:

Alex Rotonen, CFA

Vice President, Investor Relations

Email: [email protected]

MEDIA CONTACT:

Cristina Feliu Roig

Vice President, Communications & Public Affairs

Email: [email protected]

Ferroglobe PLC and Subsidiaries

Unaudited Condensed Consolidated Income Statement

(in thousands of U.S. dollars, except per share amounts)


		For the Three Months Ended		For the Three Months Ended		For the Three Months Ended		~~For the Twelve Months Ended~~		~~For the Twelve Months Ended~~
	~~December~~March 31, ~~2025~~2026		~~September~~December 3031, 2025			~~December~~March 31, ~~2024~~2025		~~December 31, 2025~~	~~December 31, 2024~~
Sales	$	~~329~~347,~~382~~745	$	~~311~~329,~~698~~382	$	~~367~~307,~~505~~179	$	~~1,335,121~~	$	~~1,643,939~~
Raw materials and energy consumption for production		(~~261~~223,~~564~~488)		(~~180~~261,~~414~~564)		(~~250~~238,~~763~~341)		~~(933,531)~~		~~(1,027,130)~~
Other operating income		1620,~~450~~492		3016,~~421~~450		189,~~892~~072		~~82,835~~		~~84,378~~
Staff costs		(6264,~~542~~140)		(6862,~~861~~542)		(70,~~241~~450)		~~(270,649)~~		~~(279,864)~~
Other operating expense		(5971,~~367~~765)		(7459,~~705~~367)		(5247,~~289~~290)		~~(245,899)~~		~~(265,182)~~
Depreciation and amortization		(2916,~~177~~601)		(1929,~~953~~177)		(1917,~~020~~520)		~~(84,951)~~		~~(75,463)~~
Impairment (loss)		(17,743)		(12)		(43,052)		(17,488)		(43,052)
Impairment (loss) gain		—		(17,743)		268
Other gain (loss)		48		(177)		(571)		1,105		555
Other gain		42		48		1,405
Operating (loss) profit		(84,513)		(2,003)		(49,539)		(133,457)		38,181
Operating (loss)		(7,715)		(84,513)		(55,677)
Finance income		~~801~~708		~~830~~801		~~3,533~~873		~~3,474~~		~~7,248~~
Finance costs		(75,~~365~~922)		(47,~~084~~365)		(34,~~089~~555)		~~(20,775)~~		~~(21,942)~~
Exchange differences		21,~~132~~783		~~555~~2,132		15(6,~~167~~914)		~~(23,886)~~		~~13,565~~
(Loss) profit before tax		(88,945)		(4,702)		(33,928)		(174,644)		37,052
(Loss) before tax		(11,146)		(88,945)		(66,273)
Income tax benefit/(expense)		2,936		(8,566)		4,376		(2,468)		(16,252)
Income tax benefit / (expense)		4,010		2,936		(625)
Total (loss) profit for the period		(86,009)		(13,268)		(29,552)		(177,112)		20,800
Total (loss) for the period		(7,136)		(86,009)		(66,898)

(Loss) profit attributable to the parent	$	(80,953)	$	(12,812)	$	(28,134)	$	(170,700)	$	23,538
(Loss) attributable to the parent	$	(7,053)	$	(80,953)	$	(66,482)
(Loss) attributable to non-controlling interest		(~~5,056~~83)		(~~456~~5,056)		(~~1,418~~416)		~~(6,412)~~		~~(2,738)~~

EBITDA	$	~~(53~~10,~~204)~~669	$	18(53,~~505~~204)	$	(1545,~~352~~071)	$	~~(72,392)~~	$	~~127,209~~
Adjusted EBITDA	$	143,~~590~~347	$	1814,~~267~~590	$	9(26,~~845~~803)	$	~~27,616~~	$	~~153,800~~


Weighted average number of shares outstanding
Basic		188,291		188,075		188,072		188,361		188,145
Basic and diluted		188,286		188,291		187,008
Diluted		188,291		188,075		188,072		188,361		188,809


(Loss) per ordinary share
(Loss) profit per ordinary share
Basic and diluted	$	(0.04)	$	(0.43)	$	(0.36)
Basic	$	(0.43)	$	(0.07)	$	(0.15)	$	(0.91)	$	0.13
Diluted	$	(0.43)	$	(0.07)	$	(0.15)	$	(0.91)	$	0.12

Ferroglobe PLC and Subsidiaries

Unaudited Condensed Consolidated Statement of Financial Position

(in thousands of U.S. dollars)


	As of ~~December~~March 31,		As of ~~September~~December 3031,		As of ~~December~~March 31,
	~~2025~~2026		2025		~~2024~~2025
ASSETS
Non-current assets
Goodwill	$	12,472	$	1412,~~219~~472	$	14,219
Intangible assets		~~132~~198,~~682~~323		~~128~~132,~~024~~682		~~103~~178,~~095~~583
Property, plant and equipment		~~486~~480,~~678~~827		~~521~~486,~~219~~678		~~487~~495,~~196~~285
Other financial assets		2646,~~717~~054		2826,~~529~~717		1925,~~744~~375
Deferred tax assets		~~5,469~~—		~~5,716~~—		67,~~580~~997
Receivables from related parties		1,~~763~~725		1,~~761~~763		1,~~558~~622
Other non-current assets		21,~~436~~516		21,~~413~~436		2223,~~451~~019
Total non-current assets		~~687~~760,~~217~~917		~~720~~681,~~881~~748		~~654~~746,~~843~~100
Current assets
Inventories		~~306~~334,~~160~~265		~~369~~306,~~392~~160		~~347~~314,~~139~~843
Trade receivables		~~191~~212,~~536~~387		~~183~~191,~~777~~536		~~188~~200,~~816~~526
Other receivables		7491,~~665~~534		9374,~~180~~665		8396,~~103~~308
Current income tax assets		54,~~564~~922		45,~~943~~564		75,~~692~~191
Other financial assets		~~11,104~~4		1211,~~520~~104		58,~~569~~564
Other current assets		2120,~~716~~671		3521,~~208~~716		5239,~~014~~385
Restricted cash and cash equivalents		~~175~~164		~~186~~175		~~298~~300
Cash and cash equivalents		~~122~~96,~~812~~228		~~121~~122,~~290~~812		~~132~~129,~~973~~281
Total current assets		~~733~~760,~~732~~175		~~820~~733,~~496~~732		~~817~~794,~~604~~398
Total assets	$	1,~~420~~521,~~949~~092	$	1,~~541~~415,~~377~~480	$	1,~~472~~540,~~447~~498

EQUITY AND LIABILITIES
Equity	$	~~692~~670,~~257~~460	$	~~786~~692,~~811~~257	$	~~834~~780,~~245~~568
Non-current liabilities
Deferred income		2675,~~394~~478		3326,~~100~~394		871,~~014~~764
Provisions		3032,~~487~~081		3130,~~020~~487		2426,~~384~~390
Provision for pensions		28,~~903~~752		3028,~~827~~903		2728,~~618~~383
Bank borrowings		6059,~~136~~327		5260,~~412~~136		1332,~~911~~299
Lease liabilities		5755,~~429~~523		6557,~~593~~429		5659,~~585~~766
Other financial liabilities		6721,~~233~~022		2722,~~956~~035		2524,~~688~~957
Other non-current liabilities		345		194		13,759
Derivate financial liabilities		37,917		45,198		4,530
Deferred tax liabilities		16,474		18,061		19,629
Other non-current liabilities		297		345		14,279
Total non-current liabilities		287,401		259,163		189,588
Deferred tax liabilities		8,202		11,005		18,834
Total non-current liabilities		318,599		281,932		281,202
Current liabilities
Provisions		87107,~~308~~200		7687,~~384~~308		8391,~~132~~416
Provision for pensions		~~186~~183		~~174~~186		168
Bank borrowings		7983,~~876~~230		5879,~~386~~876		4356,~~251~~214
Lease liabilities		12,~~254~~482		1312,~~648~~254		12,~~867~~572
Debt instruments		2629,~~014~~430		2226,~~784~~014		1014,~~135~~311
Other financial liabilities		11,~~408~~358		911,~~313~~408		4824,~~117~~763
Payables to related parties		2,577		1,175		2,664
Derivate financial liabilities		—		—		2,405
Trade and other payables		144,853		224,778		158,251
Payables to related parties		2,726		2,577		3,074
Current income tax liabilities		970		1,515		10,623
Trade and other payables		206,997		144,853		176,017
Other current liabilities		75,845		87,246		79,406
Current income tax liabilities		889		970		10,337
Total current liabilities		441,291		495,403		448,614
Other current liabilities		77,538		75,845		87,451
Total equity and liabilities	$	1,420,949	$	1,541,377	$	1,472,447
Total current liabilities		532,033		441,291		478,728
Total equity and liabilities	$	1,521,092	$	1,415,480	$	1,540,498

Ferroglobe PLC and Subsidiaries

Unaudited Condensed Consolidated Statement of Cash Flows

(in thousands of U.S. dollars)


	For the Three Months Ended		For the Three Months Ended		For the Three Months Ended		~~For the Twelve Months Ended~~		~~For the Twelve Months Ended~~
	~~December~~March 31, ~~2025~~2026		~~September~~December 3031, 2025		~~December~~March 31, ~~2024~~2025		~~December 31, 2025~~		~~December 31, 2024~~
Cash flows from operating activities:
(Loss) profit for the period	$	(86,009)	$	(13,268)	$	(29,552)	$	(177,112)	$	20,800
(Loss) for the period	$	(7,136)	$	(86,009)	$	(66,898)
Adjustments to reconcile net (loss) profit to net cash (used) provided by operating activities:
Adjustments to reconcile net (loss) to net cash (used) provided by operating activities:
Income tax (benefit)/expense		(24,~~936~~010)		8(2,~~566~~936)		~~(4,376)~~625		~~2,468~~		~~16,252~~
Depreciation and amortization		2916,~~177~~601		1929,~~953~~177		1917,~~020~~520		~~84,951~~		~~75,463~~
Finance income		(~~801~~708)		(~~830~~801)		(~~3,533~~873)		~~(3,474)~~		~~(7,248)~~
Finance costs		75,~~365~~922		47,~~084~~365		34,~~089~~555		~~20,775~~		~~21,942~~
Exchange differences		(21,~~132~~783)		(~~555~~2,132)		~~(15~~6,~~167)~~914		~~23,886~~		~~(13,565)~~
Impairment loss (gain)		~~17,743~~—		1217,743		~~43,052~~(268)		~~17,488~~		~~43,052~~
Share-based compensation		~~(92)~~947		(8292)		1,~~587~~296		~~1,814~~		~~4,924~~
Other (gain) loss		(48)		177		571		(1,105)		(555)
Other (gain)		(42)		(48)		(1,405)
Changes in operating assets and liabilities
Write downs of inventories to net realizable value		2,614		4,742		11,812
Decrease (increase) in inventories		59,903		(44,640)		23,146		43,759		47
Change in fair value of derivatives not designed as hedging instruments		(5,539)		40,218		2,768
(Increase) decrease in trade receivables		(7,015)		37,055		31,756		13,414		22,765
Changes in operating assets and liabilities
Decrease (increase) in other receivables		18,816		25,770		(12,885)		19,029		770
(Increase) decrease in inventories		(36,443)		59,903		28,357
(Increase) decrease in energy receivable		(418)		6,734		(5,735)		31,041		131,959
(Increase) decrease in trade receivables		(24,100)		(7,015)		(7,206)
(Decrease) increase in trade payables		(79,548)		(1,628)		(19,039)		(28,682)		(17,255)
(Increase) decrease in other receivables		(18,322)		18,816		(9,573)
Other changes in operating assets and liabilities		40,233		(20,415)		4,936		13,541		(40,294)
Decrease (increase) in energy receivable		1,259		(418)		25,165
Income taxes refunded (paid)		1,477		(170)		(4,776)		(10,329)		(15,799)
Increase (decrease) in trade payables		65,455		(79,548)		13,186
Net cash (used in) provided by operating activities:		(4,285)		20,763		32,094		51,464		243,258
Other changes in operating assets and liabilities		(13)		(4,727)		(7,043)
Cash flows from investing activities:
Income taxes (paid) refunded		(268)		1,477		440
Interest and finance income received		991		720		692		3,556		2,799
Net cash (used in) / provided by operating activities:		(5,566)		(4,285)		19,372
Payments due to investments:
Cash flows from investing activities:
Intangible assets		(377)		(459)		(855)		(1,556)		(3,024)
Interest and finance income received		700		991		872
Property, plant and equipment		(13,845)		(18,673)		(17,090)		(61,703)		(76,165)
Payments due to investments:
Other financial assets		—		—		—		(15,119)		(3,000)
Intangible assets		(522)		(377)		(557)
Disposals:
Property, plant and equipment		(10,335)		(13,845)		(13,750)
Other non-current assets		131		—		—		1,690		—
Other financial assets		(7,000)		—		(11,119)
Receipt of asset-related government grant		—		—		12,453		—		12,453
Disposals:
Net cash used in investing activities		(13,100)		(18,412)		(4,800)		(73,132)		(66,937)
Other non-current assets		72		131		1,559
Cash flows from financing activities:
Net cash used in investing activities		(17,085)		(13,100)		(22,995)
Dividends paid		(2,616)		(2,611)		(2,436)		(10,451)		(9,758)
Cash flows from financing activities:
Payment for debt and equity issuance costs		(99)		(7)		(6)		(205)		(6)
Dividends paid		(2,803)		(2,616)		(2,613)
Repayment of debt instruments		(11,644)		(4,585)		—		(35,760)		(147,624)
Payment for debt and equity issuance costs		(217)		(99)		(95)
Proceeds from debt issuance		14,800		15,028		10,255		50,244		10,255
Repayment of debt instruments		(14,649)		(11,644)		(10,361)
Increase/(decrease) in bank borrowings:
Proceeds from debt issuance		18,007		14,800		14,380
Borrowings		154,871		103,868		122,809		522,270		509,186
Increase/(decrease) in bank borrowings:
Payments		(126,663)		(121,192)		(137,650)		(446,041)		(495,726)
Borrowings		124,162		154,871		106,033
Payments for lease liabilities		(6,505)		(3,408)		(4,511)		(16,185)		(16,201)
Payments		(120,724)		(126,663)		(77,176)
(Repayments of)/payments from other financing liabilities		(669)		(626)		6,054		(44,748)		6,054
Payments for lease liabilities		(3,889)		(6,505)		(3,098)
Other (payments) proceeds from financing activities		—		—		(411)		1,581		(3,068)
(Repayments of)/payments from other financing liabilities		(675)		(669)		(22,651)
Payments to acquire own shares		—(20)		—		(12,~~936~~703)		~~(4,691)~~		~~(2,428)~~
Interest paid		(2,~~882~~471)		(2,~~232~~882)		(24,~~029~~531)		~~(12,550)~~		~~(26,192)~~
Net cash provided by/ (used in) financing activities		18,593		(15,765)		(9,861)		3,464		(175,508)
Net cash (used in) / provided by financing activities		(3,279)		18,593		(2,815)
Total net increase (decrease) in cash and cash equivalents		1,208		(13,414)		17,433		(18,204)		813
Total net (decrease) increase in cash and cash equivalents		(25,930)		1,208		(6,438)
Beginning balance of cash and cash equivalents		~~121~~122,~~477~~987		~~135~~121,~~547~~477		~~120~~133,~~810~~271		~~133,271~~		~~137,649~~
Foreign exchange gains (losses) on cash and cash equivalents		302		(657)		(4,972)		7,920		(5,191)
Foreign exchange (losses) gains on cash and cash equivalents		(665)		302		2,748
Ending balance of cash and cash equivalents	$	~~122~~96,~~987~~392	$	~~121~~122,~~476~~987	$	~~133~~129,~~271~~581	$	~~122,987~~	$	~~133,271~~
Restricted cash and cash equivalents		~~175~~164		~~186~~175		~~298~~300		~~175~~		~~298~~
Cash and cash equivalents		~~122~~96,~~812~~228		~~121~~122,~~290~~812		~~132~~129,~~973~~281		~~122,812~~		~~132,973~~
Ending balance of cash and cash equivalents	$	~~122~~96,~~987~~392	$	~~121~~122,~~476~~987	$	~~133~~129,~~271~~581	$	~~122,987~~	$	~~133,271~~

Adjusted EBITDA ($,000):



	Q4Q1´2526		Q3Q4´25		Q4Q1´2425		~~YTD´25~~		~~YTD´24~~
(Loss) profit attributable to the parent	$	(80,953)	$	(12,812)	$	(28,134)	$	(170,700)	$	23,538
(Loss) attributable to the parent	$	(7,053)	$	(80,953)	$	(66,482)
(Loss) attributable to non-controlling interest		(~~5,056~~83)		(~~456~~5,056)		(~~1,418~~416)		~~(6,412)~~		~~(2,738)~~
Income tax (benefit) expense		(24,~~936~~010)		8(2,~~566~~936)		~~(4,376)~~625		~~2,468~~		~~16,252~~
Finance income		(~~801~~708)		(~~830~~801)		(~~3,533~~873)		~~(3,474)~~		~~(7,248)~~
Finance costs		75,~~365~~922		47,~~084~~365		34,~~089~~555		~~20,775~~		~~21,942~~
Depreciation and amortization		2916,~~177~~601		1929,~~953~~177		1917,~~020~~520		~~84,951~~		~~75,463~~
EBITDA		~~(53~~10,~~204)~~669		18(53,~~505~~204)		(1545,~~352~~071)		~~(72,392)~~		~~127,209~~
Exchange differences		(21,~~132~~783)		(~~555~~2,132)		~~(15~~6,~~167)~~914		~~23,886~~		~~(13,565)~~
Impairment		~~29,710~~—		1229,710		~~43,052~~(268)		~~29,455~~		~~43,052~~
Restructuring and termination costs		—		—		(2,693)		(1,285)		(7,233)
New strategy implementation		—		—		682
New strategy implementation		—		—		1,629		682		5,416
PPA Energy		(5,539)		40,216		2,768
Subactivity		—		—		1,457		—		3,164
Fines Inventory Adjustment		—		—		8,172
PPA Energy		40,216		305		(3,081)		41,906		(4,243)
Adjusted EBITDA	$	3,347	$	14,590	$	(26,803)
Fines Inventory Adjustment		—		—		—		5,364		—
Adjusted EBITDA	$	14,590	$	18,267	$	9,845	$	27,616	$	153,800

Adjusted (loss) ~~profit~~ attributable to Ferroglobe ($,000):


									~~ ~~
	Q4Q1´2526		Q3Q4´25		Q4Q1´2425		~~YTD´25~~			~~YTD´24~~
(Loss) Profit attributable to the parent	$	(80,953)	$	(12,812)	$	(28,134)	$	(170,700)		$	23,538
(Loss) attributable to the parent	$	(7,053)	$	(80,953)	$	(66,482)
Tax rate adjustment		21(1,~~079~~224)		921,~~836~~079		621,~~301~~481		~~49,622~~			~~4,592~~
Impairment		~~18,286~~—		918,286		~~28,671~~(184)		~~18,100~~			~~28,671~~
Restructuring and termination costs		—		—		(1,846)		(938)			(4,957)
New strategy implementation		—		—		467
New strategy implementation		—		—		1,116		498			3,712
PPA Energy		(4,154)		29,358		1,897
Subactivity		—		—		998		—			2,168
Fines Inventory Adjustment		—		—		5,600
PPA Energy		29,358		223		(2,111)		30,591			(2,908)
Adjusted (loss) attributable to the parent	$	(12,431)	$	(12,230)	$	(37,220)
Fines Inventory Adjustment		—		—		—		3,916			—
Adjusted (loss) profit attributable to the parent	$	(12,230)	$	(2,745)	$	4,996	$	(68,912)		$	54,815

Adjusted diluted (loss) ~~profit~~ per share:


									~~ ~~
	Q4Q1´2526		Q3Q4´25		Q4Q1´2425		~~YTD´25~~			~~YTD´24~~
Diluted (loss) profit per ordinary share	$	(0.43)	$	(0.07)	$	(0.15)	$	(0.91)		$	0.12
Diluted (loss) per ordinary share	$	(0.04)	$	(0.43)	$	(0.36)
Tax rate adjustment		(0.1101)		0.0511		0.0311		~~0.26~~			~~0.02~~
Impairment		~~0.10~~—		0.0010		(0.1500)		~~0.10~~			~~0.15~~
Restructuring and termination costs		—		—		(0.01)		(0.00)			(0.03)
New strategy implementation		—		—		0.00
New strategy implementation		—		—		0.01		0.00			0.02
PPA Energy		(0.02)		0.16		0.01
Subactivity		—		—		0.01		—			0.01
Fines Inventory Adjustment		—		—		0.03
PPA Energy		0.16		0.00		(0.01)		0.16			(0.02)
Adjusted diluted (loss) per ordinary share	$	(0.07)	$	(0.06)	$	(0.20)
Adjusted diluted (loss) profit per ordinary share	$	(0.06)	$	(0.02)	$	0.03	$	(0.39)		$	0.28

NASDAQ: GSM ~~Fourth~~First Quarter ~~and~~2026 ~~Full Year 2025~~ Results ~~February~~May 186, 2026 NASDAQ: GSM Driving innovation of critical materials essential to a sustainable future

NASDAQ: GSM Forward-Looking Statements and Non-IFRS Financial Metrics 2 This presentation contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe our future plans, strategies and expectations. Forward-looking statements can generally be identified by the use of forward-looking terminology, including, but not limited to, "may," “could,” “seek,” “guidance,” “predict,” “potential,” “likely,” "believe," "will," "expect," “should," "anticipate," "estimate," "plan," "intend," "forecast," “aim,” “target,” or variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements contained in this presentation are based on information presently available to Ferroglobe PLC (“we,” “us,” “Ferroglobe,” the “Company” or the “Parent”) and assumptions that we believe to be reasonable but are inherently uncertain. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control. You are cautioned that all such statements involve risks and uncertainties, including without limitation, the impacts of the Ukraine-Russia conflict; increases in energy prices, disruptions in the supply of power and changes in governmental regulation of the power sector and the effect on costs of production; the outcomes of pending or potential litigation; operating costs, customer losses and business disruptions (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) that may be greater than expected; the retention of certain key employees; the current and anticipated competitive landscape; our ability to adapt products and services to changes in technology or the marketplace; our ability to maintain and grow relationships with customers and clients; the historic cyclicality of the metals industry and the attendant swings in market price and demand; the availability of raw materials and transportation; costs associated with labor disputes and stoppages; our ability to maintain our liquidity and to generate sufficient cash to service indebtedness; the integration and development of prior and future acquisitions; the availability and cost of maintaining adequate levels of insurance; our ability to protect trade secrets, trademarks and other intellectual property; equipment failures, delays in deliveries or catastrophic loss at any of our manufacturing facilities, which may not be covered under any insurance policy; exchange rate fluctuations; changes in laws protecting U.S., Canadian and European Union companies from unfair foreign competition (including antidumping and countervailing duty orders and laws) or the measures currently in place or expected to be imposed under those laws; compliance with, or potential liability under, environmental, health and safety laws and regulations (and changes in such laws and regulations, including in their enforcement or interpretation); risks from international operations, such as foreign exchange fluctuations, tariffs, duties and other taxation, inflation, increased costs, political risks and our ability to maintain and increase business in international markets; risks associated with mining operations, metallurgical smelting and other manufacturing activities; our ability to manage price and operational risks including industrial accidents and natural disasters; our ability to acquire or renew permits and approvals; potential losses due to unanticipated cancellations of service contracts; risks associated with potential unionization of employees or work stoppages that could adversely affect our operations; changes in tax laws (including under applicable tax treaties) and regulations or to the interpretation of such tax laws or regulations by governmental authorities; changes in general economic, business and political conditions, including changes in the financial markets; uncertainties and challenges surrounding the implementation and development of new technologies; risks related to potential cybersecurity breaches; risks related to our capital structure; risks related to our ordinary shares; our foreign private issuer status, the loss of which would require us to comply with the Exchange Act’s domestic reporting regime, and cause us to incur significant legal, accounting and other expenses; our incorporation in the United Kingdom, the laws of which govern our corporate affairs and may differ from those applicable to companies incorporated in the U.S.; and our failure to maintain an effective system of internal control over financial reporting. The foregoing list is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that affect our business, including those described in the “Risk Factors” section of our Annual Reports on Form 20-F, Current Reports on Form 6-K and other documents we file from time to time with the United States Securities and Exchange Commission. We do not give any assurance (1) that we will achieve our expectations or (2) concerning any result or the timing thereof, in each case, with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, consent decree, cost reductions, business strategies, earnings or revenue trends or future financial results. Forward- looking financial information and other metrics presented herein represent our key goals and are not intended as guidance or projections for the periods presented herein or any future periods. We do not undertake or assume any obligation to update publicly any of the forward-looking statements in this presentation to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this presentation. EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net profit, adjusted profit per share, working capital, adjusted gross debt, net cash and net debt, are non-IFRS financial metrics that, we believe, are pertinent measures of Ferroglobe’s success. The Company has included these financial metrics to provide supplemental measures of its performance. We believe these metrics are important because they eliminate items that have less bearing on the Company’s current and future operating performance and highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. For additional information, including a reconciliation of the differences between such non-IFRS financial measures and the comparable IFRS financial measures, refer to the press release dated ~~February~~May 175, 2026 accompanying this presentation, which is incorporated by reference herein.

NASDAQ: GSM ~~FERROGLOBE~~FERROALLOYS ~~WELL-POSITIONED~~DRIVING TOTOPLINE ~~CAPITALIZE~~MOMENTUM, ONREINFORCED ~~IMPROVED~~BY ~~MARKET~~EUROPEAN ~~DYNAMICS~~SAFEGUARDS 3 • EUTrade ~~Safeguard~~ measures ~~already~~drive ~~elevating~~ferroalloys volumes; EU ~~ferroalloys~~Trade ~~markets~~Commissioner •commits ~~Favorable~~to ~~preliminary~~defending ~~decisions~~the insilicon ~~the~~market ~~U.S.~~• ~~silicon~~Actively ~~antidumping/countervailing~~pursuing ~~trade~~potential ~~case~~restart ~~bode~~of ~~well~~cost-competitive ~~for~~Venezuelan ~~2026~~operations •to ~~Successfully~~access ~~navigated~~the aU.S. ~~difficult~~market ~~year~~• ~~through~~Expertise ~~discipline~~in ~~and~~critical ~~proactive~~materials ~~cost~~unlocks ~~control~~new ~~measures~~growth •opportunities ~~New~~as ~~10-year~~the ~~French~~U.S. ~~energy~~and ~~contract~~EU ~~reduces~~policy ~~cost~~pivots ~~volatility~~toward ~~and~~domestically ~~increases~~anchored ~~operational~~supply ~~flexibility~~chains • ~~Increasing~~Co-led ~~2026~~Coreshell ~~quarterly~~Series ~~dividend~~B byas 7%60-Amp pilot plant launches; agreed to ~~$0.015~~multi-year ~~per~~silicon ~~share~~metal supply agreement Key Highlights

NASDAQ: GSM ~~311.7~~ 329.4 Q3347.7 25 Q4 25 ~~1.6~~Q1 26 (18.5) Q3(16.4) 25 Q4 25 ~~18.3~~Q1 26 14.6 Q33.3 25 Q4 25 Q4Q1 ~~RESULTS~~26 ~~BENEFITED~~Q1 ~~FROM~~TOPLINE ~~IMPROVED~~DRIVEN BY STRONG FERROALLOYS VOLUMES 4 Shipments (I) (kt) Quarterly revenues ($´m) Quarterly Adj. EBITDA ($´m) Free cash flow ($´m) ~~146.1~~ 164.7 Q3177.0 25 Q4 25 Q1 26 $~~(20~~2.1) $(311.72) 1812.63 (I) Excludes by-products and other products Note: numbers may not add due to rounding $1718.74

NASDAQ: GSM SILICON METAL UPDATE ~~53,183~~ 62,872 56,910 49,797 36,308 44,610 33,561 32,634 Q130,533 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 CRU SiMe index spot pricing trends (I) ($/mt) SiMe shipment trends Q/Q by region SiMe volume trends (mt) Outlook Other 398% Total 36% N. America 815% Europe 523% 5 • ~~Unabated~~EU ~~low-priced~~silicon ~~Chinese~~demand remains subdued and ~~Angolan~~pricing ~~imports~~impaired ~~continue~~by topredatory ~~injure~~imports ~~the~~from EUChina ~~markets~~and Angola • U.S. ~~market~~sales ~~conditions~~grew ~~remained~~moderately ~~soft~~in Q1 • ~~Trade~~Expect ~~measures in~~ the U.S. ~~expected~~region to ~~improve~~outperform ~~market trends~~ in the second half of 2026 (I) Calculated using average monthly prices 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 USA EU

NASDAQ: GSM SILICON BASED ALLOYS UPDATE ~~51,171~~ 46,953 45,489 39,417 42,864 53,048 42,968 51,279 Q160,674 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 CRU FeSi index spot pricing trends (I) ($/mt) Si-based alloys shipment trends Q/Q by region Si-based alloys volume trends (mt) Outlook Other 284% Total 1918% N. America 1421% Europe 2520% 6 • ~~Strong~~Silicon ~~quarter,~~based ~~with~~alloy ~~the~~volumes EUhighest ~~and~~since ~~U.S.~~Q2 ~~posting~~2021 ~~robust~~• ~~volume~~Converted ~~increases~~3 silicon furnaces to ferrosilicon to take advantage of flexible global footprint • EU FeSi index prices ~~increased~~up ~~by 22~~9%, ~~while~~since pre-safeguards, U.S. indexes ~~declined~~up ~~by 4~~2% ~~during~~YTD ~~the fourth quarter~~ • ~~Anticipate~~Expect ~~substantial~~solid ~~improvement~~volumes infor ~~market~~the ~~conditions~~rest inof ~~2026~~the year (I) Calculated using average monthly prices 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 ~~2,800 3,000~~ USA EU

NASDAQ: GSM • ~~Strong~~Q1 ~~shipments~~volumes inup Q46% ~~benefited~~due ~~from~~to ~~larger~~safeguards, ~~customer~~partially ~~base~~offset ~~and~~by ~~safeguards~~logistics issues from the Iran war • Index prices rose ~~substantially,~~18% ~~increasing~~since ~~16%~~pre-safeguards ~~and~~• ~~21%~~Expect strong shipments for ~~ferromanganese~~rest ~~and~~of ~~silicomanganese,~~2026; ~~respectively~~enhanced •EU ~~Expecting~~steel asafeguard ~~robust~~anticipated ~~manganese~~for ~~alloys~~the ~~market~~second inhalf of 2026 MANGANESE BASED ALLOYS UPDATE ~~62,320~~ 81,464 64,495 67,712 67,229 88,188 69,552 80,778 Q185,743 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 CRU EU Mn index spot pricing trends (I) ($/mt) Mn-based alloys shipment trends Q/Q by region Mn-based alloys volume trends (mt) Outlook Other 1457% Total 166% N. America 1322% Europe 186% 7 (I) Calculated using average monthly prices 800 900 1,000 1,100 1,200 1,300 1,400 1,500 1,600 HC FeMn SiMn

NASDAQ: GSM FINANCE UPDATE

NASDAQ: GSM ~~18.3~~PRICING ~~2.3~~IMPROVEMENT ~~(3.3)~~LAGGED ~~(1.0)~~COST ~~(1.7)~~INCREASES ~~14.6 Q3 25 Volume Price Cost HQ & Others Q4 25 RESILIENT Q4 WITH POSITIVE ADJ. EBITDA~~ 9 (in USD million, except EPS) Q4Q1 ~~2025~~2026 Q3Q4 2025 Sales $~~329~~347.47 $~~311~~329.74 Raw materials & energy for prod. $(~~221~~229.30)* $(~~180~~221.13)* Raw materials / sales % 6765.29%* 5767.82%* Adj. EBITDA $143.63 $1814.36 Adj. EBITDA margin % 41.40% 54.94% Adj. diluted EPS $(0.0607) $(0.0206) Adjusted EBITDA bridge ($´m) * Excluding $40(5.25) million Q4Q1 ~~2025~~2026 and $040.32 million Q3Q4 2025 impact of power purchase agreements 14.6 2.8 3.7 (16.7) (1.2) 3.3 Q4 25 Volume Price Cost HQ & Others Q1 26

NASDAQ: GSM Revenue decreased 313% to $9684 million driven by: • a 36% decrease in shipments primarily due to 823% decline in ~~North America~~Europe, partially offset by a 513% increase in ~~Europe~~North America; • average selling price ~~was~~declined ~~flat~~7% versus the ~~third~~fourth quarter Costs ~~deteriorated~~improved ~~primarily~~ due to ~~idling~~strong performance in ~~France,~~Canada ~~partially~~and ~~offset~~the byrestart ~~improved~~of ~~North~~certain ~~American~~operations ~~cost~~in ~~performance~~Europe SILICON METAL ADJUSTED EBITDA BRIDGE Q4Q1-2526 VS. Q3Q4-25 ($m) 10 110.69 1.2 (07.30) 02.36 (102.73) ~~0.9~~Q4 Q3 25 Volume Price Cost Q4Q1 2526

NASDAQ: GSM Revenue improved 1218% to $~~104~~122 million driven by: • 1918% ~~increased~~increase in shipments across all regions~~, partially offset by~~; • ~~a 6% decrease in~~ average selling price ~~due~~was toflat ~~sales~~Costs ~~mix~~increased ~~and~~due ~~lag related~~ to ~~index~~higher energy prices ~~Costs~~and ~~benefited~~raw ~~from~~material ~~lower~~ costs in Spain and the U.S., ~~partially~~and ~~offset~~higher byproduction ~~idling~~costs in ~~France~~Spain SILICON BASED ALLOYS ADJUSTED EBITDA BRIDGE Q4Q1-2526 VS. Q3Q4-25 ($m) 11 1215.45 1.89 0.3 (210.59) 36.8 ~~15.5~~Q4 Q3 25 Volume Price Cost Q4Q1 2526

NASDAQ: GSM Revenue increased 1016% to $93107 million driven by: • 166% increase in shipments, ~~partially offset by;~~ • a 69% ~~decrease~~increase in average selling price due to astrengthening ~~lag~~EU ~~associated~~prices ~~with index pricing~~ Costs ~~positively~~negatively impacted by ~~improved~~elevated ~~performance~~manganese inore ~~Norway~~prices and ~~higher~~increased ~~fixed~~energy ~~costs~~and ~~absorption~~transportation costs MANGANESE BASED ADJUSTED EBITDA BRIDGE Q4Q1-2526 VS. Q3Q4-25 ($m) 12 48.47 10.25 (48.7)5 (7.7 8) 10.70 Q3Q4 25 Volume Price Cost Q4Q1 2526

NASDAQ: GSM ~~153~~CASH FLOW IMPACTED BY WORKING CAPITAL 13 Cash flow summary ($´M) Changes in working capital Free cash flow (I) CAPEX Taxes & others Cash from operations Q1 26 $10.87 $(1913.94) $(~~103~~3.56) 0$(5.16) $(216.84) 27$(10.69) FYEBITDA 24Energy ~~Volume~~rebate ~~Price~~$0.7 ~~Cost~~• HQInvestment &in ~~Others~~working FYcapital 25consumed ~~FULL-YEAR~~$(13.4) ~~RESULTS~~million ~~UNDERMINED~~of BYCFO, ~~LOW~~driven ~~PRICES~~by ~~FROM~~increased ~~WEAK~~volumes ~~DEMAND~~• ~~AND~~CAPEX ~~DUMPING~~decreased 13by ~~(in~~$3.3 ~~USD~~million to $10.9 million, ~~except~~• ~~EPS~~Free cash flow $(16.4) FYmillion ~~2025~~in FYthe ~~2024~~first ~~Sales~~quarter ~~$1,335~~Q4 ~~$1,644~~25 ~~Raw~~FCF ~~materials~~impacted &by ~~energy~~WC ~~for~~build-up ~~prod.~~as $(892)*Ferroalloys $volumes increase (~~1,031~~I)* ~~Raw~~Free ~~materials~~cash /flow ~~sales~~is %calculated 66.8%*as 62.7%*cash ~~Adj.~~from ~~EBITDA~~operations ~~$28~~less ~~$154~~capital ~~Adj.~~expenditures ~~EBITDA~~Note: ~~margin~~numbers %may ~~2.1%~~not ~~9.4%~~add ~~Adj.~~due ~~diluted~~to ~~EPS~~rounding $(053.392) $0(7.288) ~~Adjusted~~$49.8 ~~EBITDA bridge (~~$´m(4.3) * Excluding $41(18.95) ~~million FY 2025 and~~ $(414.2) ~~million FY 2024 impact of power purchase agreements~~$7.0

NASDAQ: GSM ~~FREE~~INCREASED ~~CASH~~QUARTERLY ~~FLOW~~DIVIDEND ~~IMPACTED~~ BY ~~WEAK~~7% ~~MARKET~~ 14 ~~Cash~~Total ~~flow~~distributions ~~summary~~BALANCED ~~($´M)~~CAPITAL ~~Changes~~ALLOCATION inCash ~~working capital Free cash flow (I)~~ CAPEX ~~Taxes~~Buybacks &$20k ~~others~~in ~~Cash~~Q1-26; ~~from~~Total ~~operations Q4 25~~ $~~(53.2) $(~~7.8)1m ~~$49.8~~Dividend ~~$(4.3)~~Increased ~~$(18.5)~~7% $~~(14.~~2~~) $18~~.58m ~~$16.6~~in ~~$(29.8)~~Q1-26 ~~$20.8~~Coreshell $~~1.6~~7m ~~$(19.1)~~in ~~EBITDA~~Q1-26; ~~Energy~~Total ~~rebate~~ $~~7.0~~17m ~~$15.5~~Disciplined •CAPEX ~~FY25 Working Capital released of~~ $4810.9m ~~million~~in ~~driven~~Q1-26 by29.8 ~~S&OP~~54.6 ~~efforts~~Q4 •25 ~~FY25~~Q1 ~~Cash~~26 ~~from~~Net ~~Operations~~debt ~~totaled~~evolution ($51´m) ~~million~~Adjusted •gross ~~CAPEX~~debt ~~decreased in FY25 by~~ ($16´m) ~~million~~152.8 ~~compared~~151.0 ~~to FY24 •~~ Q4 ~~Free~~25 ~~Cash~~Q1 ~~Flow was negative $19 million Q3~~ 25 $(I1.8)m ~~Free~~Strategic ~~cash~~investments ~~flow is calculated as cash from operations less capital expenditures~~ Note: numbers may not add due to rounding ~~FY 25~~ $~~(72.4) $47.5 $14.5 $51.5 $(11.8) $(63.3) $108.9 $6.3 $(15.8) $243.3 $164.1 $(79.2) $61.8 $176.2 FY~~ 24.8m

NASDAQ: GSM ~~SOLID~~Key ~~BALANCE~~Takeaways ~~SHEET TO SUPPORT GROWTH 15 Total distributions BALANCED CAPITAL ALLOCATION Cash CAPEX Buybacks $0m in Q4~~Iran-~~25;~~related ~~$4.7m~~disruptions inpressuring ~~FY-25;~~logistics, ~~Total~~transportation ~~$7.1m~~& ~~Dividend~~raw ~~Consistency~~materials ~~$2.6m~~costs in ~~Q4-25;~~Q2 ~~$10.5m~~2026 inMarket ~~FY-25~~conditions ~~Coreshell~~expected ~~$0m~~to inimprove ~~Q4-25; $7m~~ in ~~FY-25;~~H2 ~~Total~~2026, ~~$10m~~supported ~~Disciplined~~by ~~CAPEX~~enhanced ~~$13.5m~~European insteel ~~Q4-25;~~safeguards, ~~$62.5m~~CBAM, inand ~~FY-25~~sustained 5U.~~2 29~~S.8 Q3steel 25and Q4aluminum 25growth ~~Net~~15 ~~debt~~Strong ~~evolution~~ferroalloy ~~($´m)~~volumes ~~Adjusted~~driven ~~gross~~by ~~debt~~trade ~~($´m)~~measures, ~~126.7~~expect ~~152.8~~silicon Q3metal 25protection Q4in 25the ~~$26.1m~~EU ~~Strategic~~Critical ~~investments~~material ~~Note:~~diversification ~~numbers~~and ~~may~~a ~~not~~cost-competitive ~~add~~Venezuelan ~~due~~assets toprovide ~~rounding~~additional ~~$24.6m~~growth opportunities

NASDAQ: GSM Key Takeaways Improving cost structure and operating leverage, driven by greater production flexibility Poised for meaningful growth, following strong execution and resilience through a challenging 2025 16 Trade actions create a significantly more favorable market backdrop, positioning ferroalloys for strong improvement in 2026 Growing confidence reflected in shareholder returns, with another dividend increase and continued disciplined capital allocation

NASDAQ: GSM Q&A

NASDAQ: GSM Appendix ─ Supplemental Information

NASDAQ: GSM ADJUSTED EBITDA RECONCILIATION 1918 ($ in millions) Q4Q1 2526 Q3Q4 25 ~~FY 25 FY 24~~ EBITDA 10.7 (53.2) ~~18.5 (72.4) 127.2~~ Exchange differences1 (2.1~~) (0~~.68) ~~23.9~~ (132.61) Impairment (gain) loss — 29.7 ~~0.0 29.5 43.1~~ Restructuring and termination costs — — ~~(1.3) (7.2)~~ New strategy implementation — — ~~0.7 5.4~~ Subactivity — — ~~— 3.2~~ PPA Energy2 40(5.25) 040.~~3 41.9 (4.~~2) Fines inventory adjustment3 — — ~~5.4 —~~ Adjusted EBITDA4 143.~~6 18.~~3 2714.6 ~~153.8~~ (1) Exchange differences refer to gains or losses arising from fluctuations in exchange rates when transactions are conducted in a currency other than the entity’s functional currency (2) PPA Energy refers to the fair value of energy generated under a Power Purchase Agreement (3) Fines inventory adjustment relates to related NRV impact due to cost harmonization (4) May not add due to rounding

NASDAQ: GSM QUARTERLY SALES AND ADJUSTED EBITDA 2019 Adjusted EBITDA Quarterly Sales $ millions ~~Q1 2024~~ Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Silicon Metal ~~169~~ 204 194 161 105 130 99 96 84 Silicon Alloys ~~113~~ 105 102 85 91 112 92 104 122 Mn Alloys 66 98 90 78 74 106 84 93 107 Other Business 44 44 49 43 37 39 37 36 34 Total Revenue ~~392~~ 451 434 368 307 387 312 329 26348 58 60 10 (-27) 22 18 15 ~~Q1-24~~3 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26

NASDAQ: GSM Investor Relations Alex Rotonen Vice President, Investor Relations [email protected] Media Inquiries Cristina Feliu Roig Vice President, Communications & Public Affairs NASDAQ: GSM [email protected]

Filing Compare · Ferroglobe PLC