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 ~~November~~February ~~2025~~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 ~~November~~February 517, ~~2025~~2026 announcing results for the quarter and year ended ~~September~~December 3031, 2025

● ~~Third~~Fourth quarter and 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: November 5, 2025
	Date: February 17, 2026
	FERROGLOBE PLC
	FERROGLOBE PLC
	by	/s/ Marco Levi
		Name: Marco Levi
		Title: Chief Executive Officer (Principal Executive Officer)

Ferroglobe Reports ~~Third~~Fourth Quarter and Full Year 2025 Financial Results

Fourth Quarter and Full Year Highlights

●

EU ferroalloy safeguard measures implemented in November are reducing import pressure and supporting improving market conditions in Europe

●

Positive momentum in U.S. silicon metal trade case, with encouraging preliminary antidumping and countervailing duty determinations

●

Reporting fourth quarter adjusted EBITDA of $14.6 million

●

New 10-year French energy contract reduces cost volatility and increases flexibility

●

Ended the year with total cash of $123.0 million and net debt of $29.8 million, reflecting a strong balance sheet to support growth

●

Announcing a 7% increase in the quarterly dividend to $0.015 per share, payable on March 30

LONDON, February 17, 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 quarter and full year 2025.

Third Quarter Highlights

● Encouraging progress on preliminary U.S. silicon metal trade case on antidumping and countervailing duties

● Final EU safeguard decision expected by November 18

● Reported adjusted EBITDA of $18.3 million

● Total cash of $121.5 million, net debt of $5.2 million

● Declared dividend of $0.014 per share payable on December 29

● Coreshell began shipping pilot batteries to OEMs for testing; plans commercial battery deliveries for robotics and defense applications in early 2026

LONDON, November 5, 2025 (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 third quarter of 2025.

Financial Highlights


					%				%						%
($ in millions, except EPS)	Q3Q4 2025		Q2Q3 2025		Q/Q		Q3Q4 2024		Y/Y		YTD 2025		YTD 2024		Y/Y

Sales	$	~~311~~329.74	$	~~386~~311.97		~~(19~~5.4)7%	$	~~433~~367.5		(2810.14)%	$	1,~~005~~335.71	$	1,~~276~~643.49		(2118.28)%
Net (loss) profit attributable to the parent	$	(12.8)	$	(10.5)		(22.6)%	$	18.8		(168.1)%	$	(89.7)	$	51.7		(273.7)%
Net (loss) income attributable to the parent	$	(81.0)	$	(12.8)		(531.9)%	$	(28.1)		(187.7)%	$	(170.7)	$	23.5		(825.2)%
Adj. EBITDA	$	1814.36	$	2118.63		(1520.31)%	$	609.48		~~(69~~48.8)2%	$	1327.06	$	~~144~~153.08		(9182.0)%
Adjusted diluted EPS	$	(0.0206)	$	(0.0802)		67(163.6)%	$	0.1103		(~~122~~344.15)%	$	(0.3039)	$	0.2528		(~~219~~237.59)%
Operating cash flow	$	20(4.83)	$	1520.68		33(120.06)%	$	1132.1		86(113.84)%	$	5551.75	$	~~211~~243.23		(7378.68)%
Capital expenditures1	$	1914.12	$	1519.61		22(25.7)%	$	2117.29		(920.57)%	$	4963.03	$	6179.2		(1920.91)%
Free cash flow2	$	1(18.65)	$	01.06		~~10774~~(1234.07)%	$	~~(10~~14.0)1		~~116~~(230.28)%	$	6(11.78)	$	~~149~~164.91		(95107.52)%

(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, “~~Market~~While market conditions remained challenging in the ~~third~~fourth quarter, ~~with~~we ~~continued~~are ~~weak~~encouraged ~~demand~~by ~~across~~the ~~our~~clear ~~end~~progress ~~markets,~~on ~~further~~trade ~~pressured~~enforcement bythat ~~aggressively~~is ~~low-priced~~reshaping ~~imports to~~ the EUcompetitive landscape. ~~Encouragingly,~~The ~~the~~ strong preliminary decision in the U.S. silicon ~~metals~~metal antidumping and countervailing duty case ~~bodes well for 2026. At the same time~~, wetogether ~~expect~~with the ~~final~~finalization of EU trade measures, tomeaningfully bestrengthen ~~announced~~the ~~later~~outlook ~~this~~for ~~month~~2026. ~~Together,~~These ~~these~~actions ~~trade measures~~ should ~~help~~enable domestic producers to regain market share. ~~As the leading domestic producer in both Europe~~ and ~~the~~support ~~U.S.,~~healthier ~~we are optimistic that 2026~~ market conditions ~~will be significantly more favorable for Ferroglobe~~.

“WeAs ~~are further strengthening our partnership with Coreshell through~~ a ~~recently~~leading ~~signed~~domestic ~~joint~~producer ~~development~~in ~~agreement~~both asEurope ~~they~~and ~~advance~~the ~~silicon anode technology in EV batteries~~U.S., ~~Pilot~~and ~~battery~~with ~~deliveries~~a tostrong ~~leading~~balance ~~OEMs~~sheet, ~~have~~disciplined ~~already~~cost ~~begun~~control, and a ~~key~~competitive ~~milestone~~long-term ~~toward~~French ~~commercialization.~~energy ~~I’m~~agreement ~~also~~in ~~excited~~place, towe ~~announce~~are optimistic that ~~Coreshell~~2026 ~~won~~will ~~the~~mark ~~prestigious Startup World Cup,~~ a ~~global~~substantial ~~competition~~improvement ~~featuring~~in ~~over~~market ~~1000~~conditions ~~regional~~and ~~competitors~~financial ~~across~~performance ~~more~~for ~~than 20 countries~~Ferroglobe,” concluded Dr. Levi.

Consolidated Sales

In the ~~third~~fourth quarter of 2025, Ferroglobe reported sales of $~~311~~329.74 million, a 195.47% ~~decrease~~increase from the prior quarter and a 2810.14% decrease from the comparable prior-year period. ~~This~~The ~~decrease~~sequential ~~compared~~improvement ~~to the prior quarter~~ was mainly driven by ~~lower~~higher sales volumes of silicon-based alloys and manganese-based alloys, partially offset by ~~higher~~lower silicon metal volumes and lower pricing ~~across~~of ~~our~~silicon-based ~~product~~alloys ~~portfolio~~and manganese-based alloys. Silicon metal prices remained stable during the quarter. Sales of silicon metal decreased by $2.5 million, while silicon-based alloys and manganese-based alloys ~~decreased~~increased by $3111.12 million, ~~$19.3 million~~ and $218.72 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)

Q3Q4 2025

Q2Q3 2025

% Q/Q

Q3Q4 2024

% Y/Y

YTD 2025

YTD 2024

% Y/Y

Shipments in metric tons:

3332,~~561~~634

4433,~~610~~561

(242.8)%

5649,~~910~~797

(4134.05)%

~~114~~147,~~478~~112

~~172~~222,~~965~~762

(3334.80)%

Average selling price ($/MT):

2,~~950~~957

2,~~916~~950

10.2%

3,~~401~~240

(138.37)%

2,~~915~~924

3,~~268~~262

(10.84)%

Silicon Metal Revenue

9996,~~005~~499

~~130~~99,~~083~~005

(232.95)%

~~193~~161,~~551~~342

(4840.82)%

~~333~~430,~~703~~155

~~565~~726,~~250~~650

(4140.08)%

Silicon Metal Adj.EBITDA

~~11,614~~885

611,~~521~~614

78(92.14)%

4016,~~554~~849

(7194.47)%

23,~~688~~573

91108,~~209~~058

(9796.17)%

Silicon Metal Adj.EBITDA Margin

110.79%

511.07%

2110.04%

0.8%

1614.19%

Silicon metal revenue in the ~~third~~fourth quarter was $9996.05 million, a decrease of 232.95% from the prior quarter. The average selling price increased 10.2%, ~~while~~driven ~~shipments~~by ~~decreased~~higher 24pricing in the U.8%S. ~~due~~and toSouth ~~weaker~~Africa, partially offset by softer pricing in Europe, where demand ~~primarily~~remained ~~from~~subdued, particularly in the chemical sector. Shipments decreased 2.8% mainly reflecting lower volumes in the U.S., partially offset by higher volumes in EMEA. Adjusted EBITDA ~~increased~~decreased to $110.69 million ~~for~~in the ~~third~~fourth quarter, compared with $611.56 million ~~for~~in the prior quarter~~. Despite lower revenue~~, ~~adjusted~~primarily ~~EBITDA~~due ~~margin~~to ~~improved,~~lower ~~driven~~volumes byand ~~higher~~reduced ~~average~~fixed ~~selling~~cost ~~price~~absorption, ~~improved~~mainly ~~operational~~related ~~efficiency~~to ~~and~~furnace ~~continued~~shutdowns ~~cost~~in ~~optimization efforts~~France.

Silicon-Based Alloys

($,000)

Q3Q4 2025

Q2Q3 2025

% Q/Q

Q3Q4 2024

% Y/Y

YTD 2025

YTD 2024

% Y/Y

Shipments in metric tons:

4251,~~968~~279

5342,~~048~~968

(19.0)3%

4539,~~489~~417

(530.5)1%

~~138~~190,~~880~~159

~~143~~183,~~613~~030

(3.3)9%

Average selling price ($/MT):

2,~~149~~020

2,~~105~~149

2(6.10)%

2,~~237~~159

(36.94)%

2,~~123~~095

2,~~221~~208

(45.41)%

Silicon-based Alloys Revenue

92103,~~338~~584

~~111~~92,~~666~~338

~~(17~~12.3)2%

~~101~~85,~~759~~101

(921.3)7%

~~294~~398,~~842~~383

~~318~~404,~~964~~130

(71.64)%

Silicon-based Alloys Adj.EBITDA

1215,~~391~~503

712,~~158~~391

7325.1%

23,~~356~~093

~~425~~401.92%

2137,~~963~~466

2630,~~967~~060

~~(18~~24.6)%

Silicon-based Alloys Adj.EBITDA Margin

1315.40%

613.4%

2.3.6%

79.4%

87.54%

Silicon-based alloy revenue in the ~~third~~fourth quarter was $92103.36 million, aan ~~decrease~~increase of 1712.32% from the prior quarter. The average selling price ~~increased~~decreased by 26.10%, ~~while~~primarily ~~shipments~~due ~~decreased~~to bylower 19pricing in the U.0%S. ~~compared~~and toEurope, ~~the~~partially ~~prior~~offset ~~quarter.~~by ~~Volumes~~higher ~~decreased~~pricing in ~~EMEA~~South ~~and~~Africa. ~~the~~Shipments Uincreased by 19.S.3% ~~due~~reflecting toa ~~lower~~broad-based ~~activity~~volume inimprovement ~~steel~~across ~~and~~regions, ~~foundry~~with ~~sectors~~the strongest increase in EMEA. In Europe, assafeguard ~~well~~measures asimplemented ~~increased~~on ~~competitive~~certain ferroalloy imports began to reduce import pressure ~~from~~and ~~Asian~~supported ~~imports~~order ~~into~~activity late in the EUquarter. Adjusted EBITDA increased to $1215.45 million ~~for~~in the ~~third~~fourth quarter of 2025, up 7325.1% compared with $712.24 million in the prior quarter., ~~Despite~~driven ~~lower~~by ~~revenues,~~higher volumes. Adjusted EBITDA ~~margins~~margin improved ~~due~~ to a15.0% ~~favorable~~in ~~product~~the ~~mix~~fourth quarter, compared with ~~higher~~13.4% ~~realizations~~in the prior quarter, highlighting the benefits of stronger volume leverage and ~~better~~continued cost ~~performance~~discipline.

Manganese-Based Alloys

($,000)

Q3Q4 2025

Q2Q3 2025

% Q/Q

Q3Q4 2024

% Y/Y

YTD 2025

YTD 2024

% Y/Y

Shipments in metric tons:

6980,~~552~~778

8869,~~188~~552

~~(21~~16.1)%

6467,~~495~~712

719.83%

~~224~~305,~~969~~747

~~208~~275,~~279~~991

810.08%

Average selling price ($/MT):

1,~~214~~147

1,~~204~~214

0(5.85)%

1,~~391~~159

(121.70)%

1,~~179~~170

1,~~221~~206

(3.40)%

Manganese-based Alloys Revenue

8492,~~436~~652

~~106~~84,~~178~~436

~~(20~~9.5)7%

8978,~~713~~478

(518.9)1%

~~265~~357,~~238~~724

~~254~~332,~~309~~845

47.35%

Manganese-based Alloys Adj.EBITDA

48,~~391~~681

164,~~794~~391

~~(73~~97.9)7%

277,~~854~~091

~~(84~~22.2)4%

1524,~~611~~292

4754,~~206~~297

(6655.93)%

Manganese-based Alloys Adj.EBITDA Margin

59.24%

155.82%

319.0%

56.98%

1816.63%

Manganese-based alloy revenue in the ~~third~~fourth quarter was $8492.47 million, aan ~~decrease~~increase of 209.57% from the prior quarter. The average selling price ~~increased~~decreased by 05.85%, ~~while~~reflecting ~~shipments~~broadly ~~decreased~~lower bypricing ~~21.1%~~in ~~compared to~~ the ~~prior~~U.S. ~~quarter due to reduced carbon steel production~~ and ~~weakness~~EMEA. inShipments ~~the~~increased ~~construction~~by ~~and automotive sectors~~16.1% ~~Adjusted~~compared ~~EBITDA~~to ~~for~~ the ~~manganese-based~~prior ~~alloys~~quarter ~~portfolio~~driven ~~decreased~~by toa ~~$4.4~~significant ~~million~~volume ~~for~~increase ~~the~~in ~~third quarter, compared with $16~~Europe.8 ~~million~~In inEMEA, ~~the~~safeguard ~~prior~~measures ~~quarter.~~for ~~The~~

~~adjusted~~certain ferroalloy imports began to ease import pressure and supported improved order flows during the quarter. Adjusted EBITDA ~~margin~~for ~~decreased~~the ~~due~~manganese-based alloys portfolio increased to ~~weaker~~$8.7 ~~European~~million ~~steel~~for ~~demand~~the fourth quarter, ~~higher~~compared ~~raw~~with ~~material~~$4.4 ~~costs~~million in the prior quarter, driven by higher volumes and ~~lower~~improved fixed cost absorption. Adjusted EBITDA margin improved to 9.4% in the fourth quarter, compared with 5.2% in the prior quarter, highlighting stronger operating leverage.

Raw materials and energy consumption for production

Raw materials and energy consumption for production ~~was~~totaled $~~180~~261.46 million in the ~~third~~fourth quarter of 2025, compared towith $~~253~~180.24 million in the ~~prior~~third quarter, arepresenting ~~decrease~~an increase of 2845.70%. As a percentage of sales, ~~raw~~these ~~materials~~costs ~~and~~rose ~~energy consumption for production declined~~ to 5779.94% in the ~~third~~fourth quarter of 2025, ~~compared~~up tofrom 6557.59% in the ~~second~~prior quarter. The ~~decrease~~increase in costs as a percentage of sales was primarily driven by ~~enhanced~~temporary ~~operational~~production ~~efficiency~~curtailments in France, ~~targeted~~which reduced fixed-cost ~~optimization,~~absorption and increased unit costs, as well as a ~~more~~$40.2 ~~profitable~~million ~~product~~fair-value ~~mix~~loss related to changes in the valuation of our long-term energy contracts, ~~improving~~principally ~~overall~~in ~~profitability~~France. ~~despite~~Excluding ~~lower~~the ~~volumes~~impact of power purchase agreements, raw materials and energy consumption for production represented 67.2% of revenue.

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 ~~third~~fourth quarter of 2025, net loss attributable to the parent was $1281.80 million, or $(0.0743) per diluted share, compared to a net loss attributable to the parent of $1012.58 million, or $(0.0607) per diluted share in the prior quarter. The quarterly ~~result~~results ~~weakened~~reflect ~~compared~~lower realized pricing, a $40.2 million fair-value loss related to ~~the~~our ~~previous~~long-term ~~quarter~~French energy contracts, ~~reflecting~~higher ~~lower~~underlying ~~sales~~energy ~~volumes~~costs, and ~~reduced~~the ~~operating~~impact ~~performance~~of temporary production curtailments in France, ~~partly~~which ~~mitigated~~reduced fixed cost absorption, offset by higher shipment volumes in our alloy portfolio, ongoing cost efficiencies and a favorable product mix. The Company reported adjusted diluted earnings per share of $(0.0206) for the ~~third~~fourth quarter, compared with adjusted earnings per share of $(0.0802) 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 $1814.36 million for the ~~third~~fourth quarter of 2025 compared to $2118.63 million for the prior quarter. Adjusted EBITDA was slightly down versus the previous quarter, ~~reflecting~~primarily ~~ongoing~~by ~~market~~higher ~~softness~~energy-related costs and ~~reduced~~lower ~~sales~~fixed ~~volumes~~cost absorption associated with temporary production curtailments, partially ~~mitigated~~offset by ~~operational~~stronger volumes and continued cost efficiency ~~improvements~~initiatives.

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)	~~September~~Q4 ~~30,~~ 2025		~~June~~Q3 ~~30,~~ 2025		$		%		~~September~~Q4 ~~30,~~ 2024		$		Y/Y

Total Cash1	$	~~121~~123.50	$	~~135~~121.5		~~(14.~~1).5		~~(10~~1.4)2%	$	~~120~~133.83		0(10.73)		0(7.67)%
Adjusted Gross Debt2	$	~~126~~152.78	$	~~125~~126.27		126.51		120.26%	$	8994.04		3758.74		4261.49%
Net (Debt) Cash	$	(529.28)	$	10(5.32)		(1524.6)		(~~150~~473.61)%	$	3138.89		(3768.07)		(~~116~~176.46)%
Total Working Capital3	$	~~421~~427.65	$	~~440~~421.86		~~(19~~5.2)9		(41.4)%	$	~~528~~460.68		(~~107~~33.03)		(207.2)%

(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 $~~121~~123.50 million as of ~~September~~December 3031, 2025, ~~down~~up $~~14.~~1.5 million from $~~135~~121.5 million as of ~~June~~September 30, 2025. Adjusted gross debt increased by $126.51 million to $~~126~~152.78 million, resulting in net debt of $529.28 million as of ~~September~~December 3031, 2025, aan ~~decrease~~increase of $1524.6 million from the prior quarter.

During the ~~third~~fourth quarter, cash flows ~~from~~used in operating activities were $204.83 million, and net cash used in investing activities was $1813.41 million. Cash ~~used~~provided in financing activities was $1518.86 million as a result of principal ~~repayments~~proceeds onfrom financing facilities in ~~the U.S.,~~ South Africa, ~~Norway,~~ France and Spain oftotaling $1728.2 million, net cash proceeds from the sale of short-term commercial paper totaling $3.1 million, partially offset by lease payments of $36.45 million, dividend payments of $2.6 million, interest payments of $2.29 million, and the principal repayments of other financing liabilities of $0.67 million~~, partially offset by net cash proceeds from the sale of short-term commercial paper totaling $10~~.~~4 million.~~

~~Total~~For ~~working~~the ~~capital~~full ~~was~~year ~~$421.6 million as of September 30,~~ 2025, athe ~~decrease~~Company ofgenerated $1951.25 million ~~from~~of ~~$440.8~~operating ~~million~~cash ~~on June 30~~flow, ~~2025.~~used ~~The decrease in our working capital balance during the quarter was due to a~~ $6373.91 million ~~decrease~~of cash in ~~trade~~investing ~~receivables~~activities and ~~other~~generated ~~receivables, partially offset by increases of~~ $433.4 million in ~~inventories~~financing ~~and a $1~~activities.~~3 million decrease in trade and other payables.~~

~~Beatriz~~Total ~~García-Cos,~~working ~~Ferroglobe’s~~capital ~~Chief~~was ~~Financial~~$427.5 ~~Officer,~~million ~~commented,~~as ~~“Despite~~of aDecember ~~challenging~~31, ~~market~~2025, wean ~~generated~~increase ~~positive~~of ~~free~~$5.9 ~~cash~~million ~~flow~~from ~~and~~$421.6 ~~adjusted~~million ~~EBITDA~~at inthe end of the ~~third~~prior quarter. ~~Our~~The ~~strong~~increase in our working capital ~~management~~balance ~~and~~during ~~prudent~~the ~~expense~~quarter ~~control~~was ~~enabled~~due us to ~~maintain~~ a ~~solid~~decrease ~~cash~~of ~~position~~$79.9 ~~Due~~million toin ~~the~~trade ~~current~~and ~~business~~other ~~environment~~payables and an increase of $7.8 million in trade receivables, ~~the~~partially ~~company~~offset ~~abstained~~by ~~from~~$63.2 million and $18.5 decrease in inventories and other receivables, respectively.

~~share~~Beatriz ~~repurchases~~García-Cos, ~~during~~Ferroglobe’s ~~the~~Chief ~~quarter~~Financial Officer, commented, “Our performance reflects a strong emphasis on financial discipline and balance sheet strength. ~~However~~We generated positive adjusted EBITDA in the fourth quarter, wewhile ~~remain~~ending ~~committed~~the toperiod ~~returning~~with $123 million in total cash and modest net debt. This solid financial position provides the flexibility to ~~shareholders~~manage ~~through~~near-term ~~dividends~~volatility, invest selectively in growth opportunities, and ~~opportunistic~~support ~~share~~our ~~repurchases~~increased dividend as we enter 2026.”

Capital Returns

During the ~~third~~fourth quarter, Ferroglobe did not repurchase shares and paid a quarterly cash dividend of $ 0.014 per share on ~~September~~December 29, 2025. Our next cash dividend of $0.~~014~~015 per share will be paid on ~~December~~March 2930, ~~2025~~2026, to shareholders of record as of ~~December~~March 2223, ~~2025~~2026.

Conference Call

Ferroglobe invites all interested persons to participate on our conference call at 8:30 AM, Eastern Time on ~~November~~February 618, ~~2025~~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/~~BI799033e77565403496222504c356e4e5~~BI51f61f62f70847a4a3a2654906d1f419

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/~~kbfjnvof~~73qfjudk

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: investor.relations@ferroglobe.com

MEDIA CONTACT:

Cristina Feliu Roig

Vice President, Communications & Public Affairs

Email: corporate.comms@ferroglobe.com

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 ~~Nine~~Twelve Months Ended		For the ~~Nine~~Twelve Months Ended
	~~September~~December 3031, 2025		~~June~~September 30, 2025			~~September~~December 3031, 2024		~~September~~December 3031, 2025	~~September~~December 3031, 2024
Sales	$	~~311~~329,~~698~~382	$	~~386~~311,~~862~~698	$	~~433~~367,~~533~~505	$	1,~~005~~335,~~739~~121	$	1,~~276~~643,~~434~~939
Raw materials and energy consumption for production		(~~180~~261,~~414~~564)		(~~253~~180,~~212~~414)		(~~255~~250,~~062~~763)		(~~671~~933,~~967~~531)		(~~776~~1,~~366~~027,130)
Other operating income		3016,~~421~~450		2630,~~893~~421		2718,~~202~~892		6682,~~386~~835		6584,~~485~~378
Staff costs		(6862,~~861~~542)		(68,~~797~~861)		(7170,~~885~~241)		(~~208~~270,~~107~~649)		(~~209~~279,~~624~~864)
Other operating expense		(7459,~~705~~367)		(6474,~~535~~705)		(7452,~~475~~289)		(~~186~~245,~~531~~899)		(~~212~~265,~~893~~182)
Depreciation and amortization		(1929,~~953~~177)		(1819,~~301~~953)		(1819,~~899~~020)		(5584,~~774~~951)		(5675,~~443~~463)
Impairment (loss) gain		(12)		—		—		255		—
Impairment (loss)		(17,743)		(12)		(43,052)		(17,488)		(43,052)
Other (loss) gain		(177)		(172)		189		1,056		1,125
Other gain (loss)		48		(177)		(571)		1,105		555
Operating (loss) profit		(284,~~003~~513)		8(2,~~738~~003)		40(49,~~603~~539)		(48133,~~943~~457)		8738,~~718~~181
Finance income		~~830~~801		~~970~~830		~~829~~3,533		23,~~673~~474		37,~~715~~248
Finance costs		(37,~~881~~365)		(4,~~970~~084)		(23,~~983~~089)		(1320,~~406~~775)		(1821,~~853~~942)
Financial derivatives (loss) gain		(203)		200		—		(3)		—
Exchange differences		2,132		555		15,167		(23,886)		13,565
Exchange differences		555		(19,659)		(6,576)		(26,018)		(1,602)
(Loss) profit before tax		(88,945)		(4,702)		(33,928)		(174,644)		37,052
(Loss) profit before tax		(4,702)		(14,721)		31,873		(85,697)		70,978
Income tax benefit/(expense)		2,936		(8,566)		4,376		(2,468)		(16,252)
Income tax (expense) benefit		(8,566)		3,787		(13,301)		(5,404)		(20,627)
Total (loss) profit for the period		(86,009)		(13,268)		(29,552)		(177,112)		20,800
Total (loss) profit for the period		(13,268)		(10,934)		18,572		(91,101)		50,351


(Loss) profit attributable to the parent	$	(80,953)	$	(12,812)	$	(28,134)	$	(170,700)	$	23,538
(Loss) profit attributable to the parent	$	(12,812)	$	(10,451)	$	18,814	$	(89,744)	$	51,671
(Loss) attributable to non-controlling interest		(5,056)		(456)		(1,418)		(6,412)		(2,738)
(Loss) attributable to non-controlling interest		(456)		(483)		(242)		(1,357)		(1,320)


EBITDA	$	(53,204)	$	18,505	$	(15,352)	$	(72,392)	$	127,209
EBITDA	$	18,505	$	7,380	$	52,926	$	(19,187)	$	142,559
Adjusted EBITDA	$	14,590	$	18,267	$	9,845	$	27,616	$	153,800
Adjusted EBITDA	$	18,267	$	21,562	$	60,410	$	13,025	$	143,953



Weighted average number of shares outstanding
Weighted average number of shares outstanding
Basic		188,291		188,075		188,072		188,361		188,145
Basic		188,075		188,142		188,325		188,386		188,168
Diluted		188,291		188,075		188,072		188,361		188,809
Diluted		188,075		188,142		190,393		188,386		190,176


(Loss) profit per ordinary share
(Loss) profit per ordinary share
Basic	$	(0.43)	$	(0.07)	$	(0.15)	$	(0.91)	$	0.13
Basic	$	(0.07)	$	(0.06)	$	0.10	$	(0.48)	$	0.27
Diluted	$	(0.43)	$	(0.07)	$	(0.15)	$	(0.91)	$	0.12
Diluted	$	(0.07)	$	(0.06)	$	0.10	$	(0.48)	$	0.27

Ferroglobe PLC and Subsidiaries

Unaudited Condensed Consolidated Statement of Financial Position

(in thousands of U.S. dollars)


	As of ~~September~~December 3031,		As of ~~June~~September 30,		As of December 31,	~~As of December 31,~~
	2025		2025		2024	~~2024~~
ASSETS
Non-current assets
Goodwill	$	1412,~~219~~472	$	14,219	$	14,219
Intangible assets		~~128~~132,~~024~~682		~~195~~128,~~631~~024		103,095
Property, plant and equipment		~~521~~486,~~219~~678		~~519~~521,~~165~~219		487,196
Other financial assets		2826,~~529~~717		2728,~~519~~529		19,744
Deferred tax assets		5,~~716~~469		95,~~290~~716		6,580
Receivables from related parties		1,~~761~~763		1,~~758~~761		1,558
Other non-current assets		21,~~413~~436		21,~~346~~413		22,451
Total non-current assets		~~720~~687,~~881~~217		~~788~~720,~~928~~881		654,843
Current assets
Inventories		~~369~~306,~~392~~160		~~325~~369,~~960~~392		347,139
Trade receivables		~~183~~191,~~777~~536		~~221~~183,~~070~~777		188,816
Other receivables		9374,~~180~~665		~~119~~93,~~848~~180		83,103
Current income tax assets		45,~~943~~564		84,~~475~~943		7,692
Other financial assets		1211,~~520~~104		12,~~530~~520		5,569
Other current assets		3521,~~208~~716		4835,~~529~~208		52,014
Restricted cash and cash equivalents		~~186~~175		~~197~~186		298
Cash and cash equivalents		~~121~~122,~~290~~812		~~135~~121,~~350~~290		132,973
Total current assets		~~820~~733,~~496~~732		~~871~~820,~~959~~496		817,604
Total assets	$	1,~~541~~420,~~377~~949	$	1,~~660~~541,~~887~~377	$	1,472,447

EQUITY AND LIABILITIES
Equity	$	~~786~~692,~~811~~257	$	~~812~~786,~~639~~811	$	834,245
Non-current liabilities
Deferred income		3326,~~100~~394		5733,~~589~~100		8,014
Provisions		3130,~~020~~487		2931,~~310~~020		24,384
Provision for pensions		3028,~~827~~903		30,~~570~~827		27,618
Bank borrowings		5260,~~412~~136		4552,~~941~~412		13,911
Lease liabilities		6557,~~593~~429		6465,~~858~~593		56,585
Other financial liabilities		2767,~~956~~233		2827,~~651~~956		25,688
Other non-current liabilities		~~194~~345		~~14,033~~194		13,759
Deferred tax liabilities		1816,~~061~~474		18,~~507~~061		19,629
Total non-current liabilities		~~259~~287,~~163~~401		~~289~~259,~~459~~163		189,588
Current liabilities
Provisions		7687,~~384~~308		~~121~~76,~~527~~384		83,132
Provision for pensions		~~174~~186		~~177~~174		168
Bank borrowings		5879,~~386~~876		8358,~~166~~386		43,251
Lease liabilities		1312,~~648~~254		13,~~704~~648		12,867
Debt instruments		2226,~~784~~014		1222,~~368~~784		10,135
Other financial liabilities		911,~~313~~408		79,~~720~~313		48,117
Payables to related parties		12,~~175~~577		31,~~978~~175		2,664
Trade and other payables		~~224~~144,~~778~~853		~~226~~224,~~077~~778		158,251
Current income tax liabilities		~~1,515~~970		271,515		10,623
Other current liabilities		8775,~~246~~845		9087,~~045~~246		79,406
Total current liabilities		~~495~~441,~~403~~291		~~558~~495,~~789~~403		448,614
Total equity and liabilities	$	1,~~541~~420,~~377~~949	$	1,~~660~~541,~~887~~377	$	1,472,447

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 ~~Nine~~Twelve Months Ended		For the ~~Nine~~Twelve Months Ended
	~~September~~December 3031, 2025		~~June~~September 30, 2025		~~September~~December 3031, 2024		~~September~~December 3031, 2025		~~September~~December 3031, 2024
Cash flows from operating activities:
(Loss) profit for the period	$	(1386,~~268~~009)	$	(1013,~~934~~268)	$	18(29,~~572~~552)	$	(91177,~~101~~112)	$	5020,~~351~~800
Adjustments to reconcile net (loss) profit to net cash provided by operating activities:
Adjustments to reconcile net (loss) profit to net cash (used) provided by operating activities:
Income tax expense (benefit)		8,566		(3,787)		13,301		5,404		20,627
Income tax (benefit)/expense		(2,936)		8,566		(4,376)		2,468		16,252
Depreciation and amortization		1929,~~953~~177		1819,~~301~~953		1819,~~899~~020		5584,~~774~~951		5675,~~443~~463
Finance income		(~~830~~801)		(~~970~~830)		(~~829~~3,533)		(23,~~673~~474)		(37,~~715~~248)
Finance costs		37,~~881~~365		4,~~970~~084		23,~~983~~089		1320,~~406~~775		1821,~~853~~942
Exchange differences		(~~555~~2,132)		~~19,659~~(555)		6(15,~~576~~167)		2623,~~018~~886		1(13,~~602~~565)
Impairment loss (gain)		1217,743		—12		—43,052		~~(255)~~17,488		—43,052
Net (gain) loss due to changes in the value of asset		—		—		(193)		—		(301)
Share-based compensation		(92)		(82)		1,587		1,814		4,924
(Gain) loss on disposal of non-current assets		—		—		4		—		(42)
Other (gain) loss		(48)		177		571		(1,105)		(555)
Share-based compensation		(82)		692		1,496		1,906		3,337
Other loss (gain)		380		(28)		—		(1,053)		(782)
Changes in operating assets and liabilities
(Increase) decrease in inventories		(44,640)		139		(5,414)		(16,144)		(23,099)
Decrease (increase) in inventories		59,903		(44,640)		23,146		43,759		47
Decrease (increase) in trade receivables		37,055		(9,420)		27,018		20,429		(8,991)
(Increase) decrease in trade receivables		(7,015)		37,055		31,756		13,414		22,765
Decrease (increase) in other receivables		2518,~~770~~816		~~(15~~25,~~984)~~770		(2812,~~656~~885)		~~213~~19,029		~~13,655~~770
Decrease (increase) in energy receivable		6,734		(440)		(10,508)		31,459		137,694
(Increase) decrease in energy receivable		(418)		6,734		(5,735)		31,041		131,959
(Decrease) increase in trade payables		(179,~~628~~548)		39(1,~~308~~628)		(1319,~~678~~039)		50(28,~~866~~682)		1(17,~~784~~255)
Other changes in operating assets and liabilities		~~(20~~40,~~415)~~233		(1320,~~817~~415)		~~(11~~4,~~610)~~936		~~(26~~13,~~695)~~541		(4540,~~229~~294)
Income taxes (paid) received		(170)		(12,076)		(6,847)		(11,806)		(11,023)
Income taxes refunded (paid)		1,477		(170)		(4,776)		(10,329)		(15,799)
Net cash provided by operating activities:		20,763		15,613		11,114		55,748		211,164
Net cash (used in) provided by operating activities:		(4,285)		20,763		32,094		51,464		243,258
Cash flows from investing activities:
Interest and finance income received		~~720~~991		~~973~~720		~~766~~692		23,~~565~~556		2,~~107~~799
Payments due to investments:
Intangible assets		(~~459~~377)		(~~163~~459)		(~~850~~855)		(1,~~179~~556)		(23,~~169~~024)
Property, plant and equipment		(1813,~~673~~845)		(1518,~~435~~673)		(2017,~~302~~090)		(4761,~~858~~703)		(5976,~~075~~165)
Other financial assets		—		~~(4,000)~~—		—		(15,119)		(3,000)
Disposals:
Property, plant and equipment		—		—		—		1,559		—
Other non-current assets		131		—		—		1,690		—
Net cash used in investing activities		(18,412)		(18,625)		(20,386)		(60,032)		(62,137)
Receipt of asset-related government grant		—		—		12,453		—		12,453
Net cash used in investing activities		(13,100)		(18,412)		(4,800)		(73,132)		(66,937)
Cash flows from financing activities:
Dividends paid		(2,~~611~~616)		(2,611)		(2,~~441~~436)		(710,~~835~~451)		(79,~~322~~758)
Payment for debt and equity issuance costs		(799)		(47)		—(6)		(~~106~~205)		—(6)
Repayment of debt instruments		(411,~~585~~644)		(94,~~170~~585)		—		(2435,~~116~~760)		(147,624)
Proceeds from debt issuance		1514,~~028~~800		615,~~036~~028		—10,255		3550,~~444~~244		—10,255
(Decrease) increase in bank borrowings:
Increase/(decrease) in bank borrowings:
Borrowings		~~103~~154,~~868~~871		~~157~~103,~~498~~868		~~145~~122,~~804~~809		~~367~~522,~~399~~270		~~386~~509,~~377~~186
Payments		(~~121~~126,~~192~~663)		(121,~~010~~192)		(~~144~~137,~~292~~650)		(~~319~~446,~~378~~041)		(~~358~~495,~~076~~726)
Payments for lease liabilities		(36,~~408~~505)		(3,~~174~~408)		(54,~~834~~511)		(916,~~680~~185)		(1116,~~690~~201)
Payments from other financing liabilities		(626)		(20,802)		—		(44,079)		(2,657)
(Repayments of)/payments from other financing liabilities		(669)		(626)		6,054		(44,748)		6,054
Other (payments) proceeds from financing activities		—		~~1,581~~—		(~~2,176~~411)		1,581		(~~492~~3,068)
Payments to acquire own shares		—		~~(1,988)~~—		(~~492~~1,936)		(4,691)		—(2,428)
Interest paid		(2,~~232~~882)		(2,~~905~~232)		(62,~~955~~029)		(912,~~668~~550)		(2426,~~163~~192)
Net cash (used) provided in financing activities		(15,765)		3,451		(16,386)		(15,129)		(165,647)
Net cash provided by/ (used in) financing activities		18,593		(15,765)		(9,861)		3,464		(175,508)
Total net (decrease) increase in cash and cash equivalents		(13,414)		439		(25,658)		(19,413)		(16,620)
Total net increase (decrease) in cash and cash equivalents		1,208		(13,414)		17,433		(18,204)		813
Beginning balance of cash and cash equivalents		~~135~~121,~~547~~477		~~129~~135,~~581~~547		~~144~~120,~~487~~810		133,271		137,649
Foreign exchange (losses) gains on cash and cash equivalents		(657)		5,527		1,981		7,618		(219)
Foreign exchange gains (losses) on cash and cash equivalents		302		(657)		(4,972)		7,920		(5,191)
Ending balance of cash and cash equivalents	$	~~121~~122,~~476~~987	$	~~135~~121,~~547~~476	$	~~120~~133,~~810~~271	$	~~121~~122,~~476~~987	$	~~120~~133,~~810~~271
Restricted cash and cash equivalents		~~186~~175		~~197~~186		~~306~~298		~~186~~175		~~306~~298
Cash and cash equivalents		~~121~~122,~~290~~812		~~135~~121,~~350~~290		~~120~~132,~~504~~973		~~121~~122,~~290~~812		~~120~~132,~~504~~973
Ending balance of restricted cash and cash and cash equivalents	$	121,476	$	135,547	$	120,810	$	121,476	$	120,810
Ending balance of cash and cash equivalents	$	122,987	$	121,476	$	133,271	$	122,987	$	133,271

Adjusted EBITDA ($,000):



	Q3Q4´25		Q2Q3´25		Q3Q4´24		YTD´25		YTD´24
(Loss) profit attributable to the parent	$	(1280,~~812~~953)	$	(1012,~~451~~812)	$	18(28,~~814~~134)	$	(89170,~~744~~700)	$	5123,~~671~~538
(Loss) attributable to non-controlling interest		(~~456~~5,056)		(~~483~~456)		(~~242~~1,418)		(16,~~357~~412)		(12,~~320~~738)
Income tax expense (benefit)		8,566		(3,787)		13,301		5,404		20,627
Income tax (benefit) expense		(2,936)		8,566		(4,376)		2,468		16,252
Finance income		(~~830~~801)		(~~970~~830)		(~~829~~3,533)		(23,~~673~~474)		(37,~~715~~248)
Finance costs		37,~~881~~365		4,~~970~~084		23,~~983~~089		1320,~~406~~775		1821,~~853~~942
Financial derivatives loss (gain)		203		(200)		—		3		—
Depreciation and amortization		29,177		19,953		19,020		84,951		75,463
Depreciation and amortization		19,953		18,301		18,899		55,774		56,443
EBITDA		(53,204)		18,505		(15,352)		(72,392)		127,209
EBITDA		18,505		7,380		52,926		(19,187)		142,559
Exchange differences		(2,132)		(555)		(15,167)		23,886		(13,565)
Exchange differences		(555)		19,659		6,576		26,018		1,602
Impairment		29,710		12		43,052		29,455		43,052
Impairment loss (gain)		12		—		—		(256)		—
Restructuring and termination costs		—		—		(2,693)		(1,285)		(7,233)
Restructuring and termination costs		—		(1,285)		—		(1,285)		(4,540)
New strategy implementation		—		—		1,629		682		5,416
New strategy implementation		—		—		1,413		682		3,786
Subactivity		—		—		1,457		—		3,164
Subactivity		—		—		657		—		1,708
PPA Energy		40,216		305		(3,081)		41,906		(4,243)
PPA Energy		305		(1,384)		(1,162)		1,689		(1,162)
Fines Inventory Adjustment		—		—		—		5,364		—
Fines inventory adjustment		—		(2,808)		—		5,364		—
Adjusted EBITDA	$	14,590	$	18,267	$	9,845	$	27,616	$	153,800
Adjusted EBITDA	$	18,267	$	21,562	$	60,410	$	13,025	$	143,953

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



	Q3Q4´25		Q2Q3´25		Q3Q4´24		YTD´25		YTD´24
(Loss) profit attributable to the parent	$	(12,812)	$	(10,451)	$	18,814	$	(89,744)	$	51,671
(Loss) Profit attributable to the parent	$	(80,953)	$	(12,812)	$	(28,134)	$	(170,700)	$	23,538
Tax rate adjustment		921,~~836~~079		~~188~~9,836		36,~~271~~301		2849,~~542~~622		(14,~~710)~~592
Impairment (gain)		9		—		—		(187)		—
Impairment		18,286		9		28,671		18,100		28,671
Restructuring and termination costs		—		~~(938)~~—		—(1,846)		(938)		(34,~~111~~957)
New strategy implementation		—		—		~~968~~1,116		498		23,~~595~~712
Subactivity		—		—		~~450~~998		—		12,~~170~~168
PPA Energy		~~223~~29,358		~~(1,010)~~223		(~~796~~2,111)		130,~~233~~591		(~~796~~2,908)
Fines inventory adjustment		—		(2,050)		—		3,916		—
Fines Inventory Adjustment		—		—		—		3,916		—
Adjusted (loss) profit attributable to the parent	$	(212,~~745~~230)	$	(142,~~262~~745)	$	224,~~707~~996	$	(5668,~~680~~912)	$	4954,~~819~~815

Adjusted diluted (loss) profit per share:



	~~Q3'~~Q4´25		Q2Q3´25		Q3Q4´24		YTD´25		YTD´24
Diluted (loss) profit per ordinary share	$	(0.0743)	$	(0.0607)	$	(0.1015)	$	(0.4891)	$	0.2712
Tax rate adjustment		0.0511		0.0005		0.0203		0.1526		(0.~~01)~~02
Impairment (gain)		0.00		—		—		(0.00)		—
Impairment		0.10		0.00		0.15		0.10		0.15
Restructuring and termination costs		—		~~(0.00)~~—		—(0.01)		(0.00)		(0.0203)
New strategy implementation		—		—		0.01		0.00		0.0102
Subactivity		—		—		0.0001		—		0.01
PPA Energy		0.0016		(0.~~01)~~00		(0.0001)		0.0116		(0.0002)
Fines inventory adjustment		—		(0.01)		—		0.02		—
Adjusted diluted (loss) profit per ordinary share	$	(0.06)	$	(0.02)	$	0.03	$	(0.39)	$	0.28
Adjusted diluted (loss) profit per ordinary share	$	(0.02)	$	(0.08)	$	0.11	$	(0.30)	$	0.25

NASDAQ: GSM ~~Third~~Fourth Quarter and Full Year 2025 Results ~~November~~February 618, ~~2025~~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 ~~November~~February 517, ~~2025~~2026 accompanying this presentation, which is incorporated by reference herein.

NASDAQ: GSM ~~INCREASING~~FERROGLOBE ~~CLARITY~~WELL-POSITIONED INTO ~~THE~~CAPITALIZE ~~U.S.~~ON ~~AND~~IMPROVED EUMARKET ~~TRADE~~DYNAMICS ~~CASES~~3 ~~POSITIONS~~• ~~FERROGLOBE~~EU ~~FOR~~Safeguard Ameasures ~~ROBUST~~already ~~2026~~elevating 3EU ~~Strong~~ferroalloys ~~U.S.~~markets ~~preliminary~~• ~~Silicon~~Favorable ~~Metal~~preliminary ~~AD/CVD~~decisions ~~decision,~~in ~~positive for~~ the ~~industry~~U.S. ▪silicon ~~Preliminary~~antidumping/countervailing ~~CVD~~trade ~~duties~~case ~~ranging~~bode ~~from~~well ~~17%~~for to2026 ~~240%~~• ▪Successfully ~~Preliminary~~navigated ADa ~~duties~~difficult onyear ~~Angola~~through ofdiscipline ~~68%~~ and ~~Laos~~proactive ofcost ~~94%~~control ▪measures ~~Expect~~• ~~Australia~~New ~~and Norway duties to be announced before year~~10-~~end~~year EUFrench ~~trade~~energy ~~measures~~contract ~~expected~~reduces bycost ~~November~~volatility 18and ~~Coreshell~~increases ~~began~~operational ~~delivering~~flexibility ~~pilot~~• ~~batteries~~Increasing to2026 ~~OEMs;~~quarterly ~~ramping~~dividend upby ~~production~~7% ~~Signed a competitive multi-year energy agreement for French operations ▪ Provides flexibility~~ to ~~produce~~$0.015 12per ~~months~~share ~~a year~~ Key ~~Q3 2025~~ Highlights

NASDAQ: GSM ~~386.9~~ 311.7 Q2329.4 25 Q3 25 ~~0.0~~Q4 25 1.6 Q2(18.5) 25 Q3 25 ~~21.6~~Q4 25 18.3 Q214.6 Q3 25 Q3Q4 25 Q3Q4 RESULTS ~~AFFECTED~~BENEFITED BYFROM ~~SOFT~~IMPROVED ~~DEMAND~~FERROALLOYS ~~AND~~VOLUMES ~~LOW-PRICED IMPORTS~~ 4 Shipments (I) (kt) Quarterly revenues ($´m) Quarterly Adj. EBITDA ($´m) Free cash flow ($´m) ~~185.8~~ 146.1 Q2164.7 Q3 25 Q3Q4 25 $1(20.6m1) $(3.3m7) 3918.~~8kt~~6 ~~$75.2m~~ (I) Excludes by-products and other products Note: numbers may not add due to rounding $17.7

NASDAQ: GSM SILICON METAL UPDATE ~~49,761~~ 53,183 62,872 56,910 49,797 36,308 44,610 33,561 Q432,634 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 CRU SiMe index spot pricing trends (I) ($/mt) SiMe shipment trends Q/Q by region SiMe volume trends (mt) Outlook Other 843% Total 253% N. America 18% Europe 515% 5 • EUUnabated ~~market disrupted by influx of~~ low-priced Chinese and Angolan imports continue to injure the EU markets • U.S. market conditions remained ~~stable~~soft ~~with limited liquidity~~ • Trade measures in the U.S. expected to improve 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 ~~46,446~~ 51,171 46,953 45,489 39,417 42,864 53,048 42,968 Q451,279 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 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 4928% Total 19% N. America 1014% Europe 1525% 6 • ~~After~~Strong ~~one~~quarter, ofwith the ~~strongest~~EU ~~second~~and ~~quarters,~~U.S. ~~volumes~~posting ~~softened~~robust involume Q3increases • EU ~~and~~FeSi index prices increased by 22%, while U.S. ~~FeSi~~indexes ~~index~~declined ~~prices~~by ~~retreated~~4% induring Q3the fourth quarter • ~~Expect~~Anticipate substantial improvement in market conditions in 2026 ~~assisted by EU Safeguards~~ (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 shipments in Q4 benefited from larger customer base and safeguards • Index prices rose substantially, increasing 16% and 21% for ferromanganese and silicomanganese, respectively • Expecting a robust manganese alloys market in 2026 MANGANESE BASED ALLOYS UPDATE ~~61,404~~ 62,320 81,464 64,495 67,712 67,229 88,188 69,552 Q480,778 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 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 ~~100~~1% Total 2116% N. America 113% Europe 2218% 7 ~~• Solid shipments in Q3 despite pressure from increased imports from Asia • Continue to benefit from favorable cost position • EU safeguards decision expected to strengthen the market in 2026~~ (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 2118.63 2.3 (133.43) (1.60) 10(1.97) 014.96 ~~18.3~~Q3 Q2 25 Volume Price Cost HQ & Others Q3Q4 25 ~~GENERATED~~RESILIENT Q4 WITH POSITIVE ADJ. EBITDA ~~IN SOFT DEMAND ENVIRONMENT~~ 9 (in USD million, except EPS) Q3Q4 2025 Q2Q3 2025 Sales $~~311~~329.74 $~~386~~311.97 Raw materials & energy for prod. $(~~180~~221.43)* $(~~253~~180.21)* Raw materials / sales % 5767.92%* 6557.58%* Adj. EBITDA $1814.36 $2118.63 Adj. EBITDA margin % 54.94% 5.69% Adj. diluted EPS $(0.0206) $(0.0802) Adjusted EBITDA bridge ($´m) * Excluding $40.2 million Q4 2025 and $0.3 million Q3 2025 impact of power purchase agreements

NASDAQ: GSM Revenue decreased 243% to $9996 million driven by: • a 3% decrease in shipments primarily due to 518% decline in ~~Europe~~North ~~as a result of dumping by China~~America, partially offset by; •a 15% increase in Europe; • average selling price was flat versus the third quarter Costs ~~improved~~deteriorated primarily due to ~~lower~~idling ~~energy costs~~ in ~~Europe~~France, ~~and~~partially ~~effective~~offset ~~cost~~by ~~management~~improved inNorth ~~the~~American ~~U.S.~~cost ~~and~~performance ~~Europe~~ SILICON METAL ADJUSTED EBITDA BRIDGE Q3Q4-25 VS. Q2Q3-25 ($m) 10 611.56 (70.93) 0.3 (210.47) 150.49 ~~11.6~~Q3 Q2 25 Volume Price Cost Q3Q4 25

NASDAQ: GSM Revenue ~~decreased~~improved 1712% to $92104 million driven by: • 19% ~~decrease~~increased in shipments across all regions, partially offset by; • a 26% ~~increase~~decrease in average selling price due to sales mix and lag related to index prices Costs benefited from lower ~~energy~~ costs in Spain, partially offset by ~~higher~~idling ~~production costs~~ in ~~the~~France ~~U.S. and South Africa~~ SILICON BASED ALLOYS ADJUSTED EBITDA BRIDGE Q3Q4-25 VS. Q2Q3-25 ($m) 11 712.24 1.8 (2.05) 23.28 515.05 ~~12.4~~Q3 Q2 25 Volume Price Cost Q3Q4 25

NASDAQ: GSM Revenue ~~decreased~~increased 2110% to $8493 million driven by: • 2116% ~~decrease~~increase in shipments ~~due to imports from Asia and strong Q2~~, partially offset by; • 1a 6% ~~increase~~decrease in average selling price due to ~~product~~a ~~mix~~lag associated with index pricing Costs positively impacted by ~~lower~~improved ~~fixed~~performance ~~cost absorption~~ in ~~Spain~~Norway and higher ~~raw~~fixed ~~material~~ costs inabsorption ~~France and Norway~~ MANGANESE BASED ADJUSTED EBITDA BRIDGE Q3Q4-25 VS. Q2Q3-25 ($m) 12 164.84 1.2 (34.67) 07.7 (98.5)7 ~~4.4~~Q3 Q2 25 Volume Price Cost Q3Q4 25

NASDAQ: GSM ~~GENERATED~~153.8 ~~POSITIVE~~(19.9) ~~CASH~~(103.5) ~~FLOW~~0.1 ~~13 Cash flow summary~~ (~~$´M~~2.8) ~~Changes~~27.6 inFY ~~working~~24 ~~capital~~Volume ~~Free~~Price ~~cash~~Cost ~~flow~~HQ ~~(I) CAPEX Taxes~~ & ~~others~~Others ~~Cash~~FY ~~from~~25 ~~operations~~FULL-YEAR Q3RESULTS 25UNDERMINED ~~$18.5~~BY ~~$16.6~~LOW ~~$(29.8)~~PRICES ~~$20.8~~FROM ~~$1.6~~WEAK ~~$(19.1)~~DEMAND ~~$7.4~~AND ~~$14.0~~DUMPING $(13~~.0)~~ ~~$15.6 $0.0 $~~(~~15.6)~~in ~~EBITDA~~USD ~~Energy~~million, ~~rebate~~except ~~$15.5~~EPS) ~~$7.2~~FY •2025 ~~Working~~FY ~~capital~~2024 ~~contributed~~Sales $~~16.6~~1,335 ~~million to CFO~~$1,644 ~~driven~~Raw bymaterials S&OP ~~implementation~~energy •for ~~CAPEX~~prod. ~~increased~~$(892)* by $~~3.5~~(1,031)* ~~million~~Raw tomaterials ~~$19.1~~/ ~~million~~sales •% ~~Generated~~66.8%* $162.67%* ~~million~~Adj. ofEBITDA ~~free~~$28 ~~cash~~$154 ~~flow~~Adj. ~~during~~EBITDA amargin ~~challenging~~% ~~quarter~~2.1% Q29.4% 25Adj. ~~CFO~~diluted OFEPS $~~21M~~(0.39) ~~AND~~ $~~17M~~0.28 WCAdjusted ~~RELEASE~~EBITDA bridge (I$´m) ~~Free~~* ~~cash~~Excluding ~~flow~~$41.9 ismillion ~~calculated~~FY as2025 ~~cash~~and ~~from~~$(4.2) ~~operations~~million ~~less~~FY ~~capital~~2024 ~~expenditures~~impact ~~Note:~~of ~~numbers~~power ~~may~~purchase ~~not add due to rounding~~agreements

NASDAQ: GSM ~~MAINTAINED~~FREE ACASH ~~STRONG~~FLOW ~~BALANCE~~IMPACTED ~~SHEET~~BY WEAK MARKET 14 ~~Total~~Cash ~~distributions~~flow ~~BALANCED~~summary ~~CAPITAL~~($´M) ~~ALLOCATION~~Changes ~~Cash~~in working capital Free cash flow (I) CAPEX ~~Buybacks~~Taxes ~~$0m~~& inothers ~~Q3-~~Cash from operations Q4 25; ~~Total~~$(53.2) $(7.1m8) ~~Dividend~~$49.8 ~~Consistency~~$(4.3) $(18.5) $(14.2) $18.6m5 in$16.6 ~~Q3-25~~$(29.8) ~~Coreshell~~$20.8 $0m1.6 in$(19.1) ~~Q3-25;~~EBITDA ~~Total~~Energy rebate $~~10m~~7.0 ~~Disciplined~~$15.5 ~~CAPEX~~• FY25 Working Capital released of $~~19.1m~~48 inmillion ~~Q3-25~~driven 10by ~~(5)~~S&OP Q2efforts 25• Q3FY25 25Cash ~~Net~~from ~~cash/debt~~Operations ~~evolution~~totaled ($~~´m)~~51 ~~Adjusted~~million ~~gross~~• ~~debt~~CAPEX (decreased in FY25 by $~~´m)~~16 ~~125~~million ~~127~~compared Q2to 25FY24 Q3• 25Q4 ~~$2m~~Free Cash Flow was negative $19 million Q3 25 (16I)m ~~Strategic~~Free ~~investments~~cash 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

NASDAQ: GSM ~~Key~~SOLID ~~Takeaways~~BALANCE ~~Effective~~SHEET ~~working~~TO ~~capital~~SUPPORT ~~management~~GROWTH ~~supporting~~15 ~~solid~~Total ~~balance~~distributions ~~sheet~~BALANCED ~~and~~CAPITAL ~~cash~~ALLOCATION ~~generation~~Cash ~~Secured~~CAPEX aBuybacks ~~cost~~$0m in Q4-~~competitive~~25; ~~multi~~$4.7m in FY-~~year~~25; ~~energy~~Total ~~agreement~~$7.1m Dividend Consistency $2.6m in ~~France~~Q4-25; 15$10.5m Uin FY-25 Coreshell $0m in Q4-25; $7m in FY-25; Total $10m Disciplined CAPEX $13.S5m in Q4-25; $62.5m ~~and~~in EUFY-25 ~~trade~~5.2 ~~measures~~29.8 ~~are~~Q3 ~~expected~~25 toQ4 ~~significantly~~25 ~~strengthen~~Net ~~the~~debt ~~business~~evolution ~~environment~~($´m) inAdjusted ~~2026~~gross ~~Coreshell~~debt ~~began~~($´m) ~~pilot~~126.7 ~~battery~~152.8 ~~shipments~~Q3 to25 ~~OEMs;~~Q4 ~~Plans~~25 ~~commercial~~$26.1m ~~battery~~Strategic ~~deliveries~~investments ~~for~~Note: ~~robotics~~numbers ~~and~~may ~~defense~~not ~~applications~~add indue ~~early~~to ~~2026~~rounding $24.6m

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 1819 ($ in millions) Q4 25 Q3 25 Q2FY 25 FY 24 EBITDA (53.2) 18.5 7(72.4) 127.2 Exchange differences1 (2.1) (0.6) 1923.79 (13.6) 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 40.2 0.3 (141.9 (4.2) Fines inventory adjustment3 — (2— 5.8)4 — Adjusted EBITDA4 14.6 18.3 2127.6 153.8 (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 1920 Adjusted EBITDA Quarterly Sales $ millions ~~Q4 2023~~ Q1 2024 Q2 ~~2023~~2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Silicon Metal ~~168~~ 169 204 194 161 105 130 99 96 Silicon Alloys ~~107~~ 113 105 102 85 91 112 92 104 Mn Alloys 60 66 98 90 78 74 106 84 93 Other Business 32 44 44 49 43 37 39 37 36 Total Revenue ~~367~~ 392 451 434 368 307 387 312 60329 26 58 60 10 (27) 22 18 ~~Q4-23~~15 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25

NASDAQ: GSM Investor Relations Alex Rotonen Vice President, Investor Relations investor.relations@ferroglobe.com Media Inquiries Cristina Feliu Roig Vice President, Communications & Public Affairs NASDAQ: GSM corporate.comms@ferroglobe.com

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