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 ~~2024~~2025

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 619, ~~2024~~2025 announcing results for the quarter and year ended ~~September~~December 3031, 2024

● ~~Third~~Fourth quarter and full year 2024 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 6, 2024
	Date: February 19, 2025
	FERROGLOBE PLC
	by	/s/ Marco Levi
		Name: Marco Levi
		Title: Chief Executive Officer (Principal Executive Officer)

Ferroglobe Reports ~~Strong~~Fourth ~~Third~~ Quarter and Full Year 2024 Financial Results

~~Maintaining~~Introducing 2025 Adj. EBITDA guidance of $~~150~~100-$170 million

● ~~Recorded~~Posted ~~improved~~ adjusted EBITDA of $60153.8 million for the ~~third~~full ~~quarter~~year of 2024 and $9.8 million for the fourth quarter

● ~~Positive~~Generated ~~net~~$164.1 ~~cash~~million ~~position~~ of ~~$32~~free ~~million~~cash ~~and~~flow ~~adjusted~~for ~~gross~~the ~~debt~~full ofyear and $8914.1 million for the fourth quarter

● ~~U.S.~~Trade ~~Department~~measures ofto ~~Commerce~~ensure ~~announced~~fair ~~duties~~trade onin ~~Russian,~~the ~~Brazilian,~~U.S. ~~Kazakhstan~~ and ~~Malaysian~~Europe ~~FeSi~~are ~~imports~~progressing well

● ~~Paid~~Increasing quarterly ~~cash~~ dividend ofby $07.~~013~~7% ~~per~~to ~~share in September; next dividend of~~ $0.~~013~~014 per share ~~on December 27~~

● ~~Repurchased~~Paid ~~shares~~quarterly ~~during~~cash ~~the~~dividend ~~third~~of ~~quarter~~$0.013 ~~and~~per ~~implemented~~share ain ~~10b5-1 plan~~December

● ~~Preparing~~Repurchased toapproximately ~~issue~~482,000 ~~ESG~~shares ~~report~~during ~~highlighting~~ the ~~company’s~~fourth ~~2030 decarbonization targets and other milestones~~quarter

LONDON, ~~November~~February 619, ~~2024~~2025 (GLOBE NEWSWIRE) – Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe”, the “Company”, or the “Parent”), a leading global producer ~~globally~~ of silicon metal, silicon-based and manganese-based specialty alloys, today announces financial results for the ~~third~~fourth quarter ofand full year 2024.

Financial Highlights


					%				%						%
($ in millions, except EPS)	Q3Q4 2024		Q2Q3 2024		Q/Q		Q3Q4 2023		Y/Y		YTD 2024		YTD 2023		Y/Y

Sales	$	~~433~~367.5	$	~~451~~433.05		(4%15.2)%	$	~~416~~376.80		4(2.2)%	$	1,~~276~~643.49	$	1,~~274~~650.10		(0.4)%
Net income	$	18.8	$	34.9		(46%)	$	40.9		(54%)	$	51.7	$	93.8		(45%)
Net (loss) income attributable to the parent	$	(46.4)	$	18.8		(346.8)%	$	(11.1)		(317.6)%	$	5.2	$	82.7		(93.7)%
Adjusted diluted EPS	$	0.11	$	0.13		(13%)	$	0.27		(59%)	$	0.25	$	0.63		(60%)
Adj. EBITDA	$	9.8	$	60.4		(83.7)%	$	60.3		(83.7)%	$	153.8	$	315.2		(51.2)%
Adj. EBITDA	$	60.4	$	57.7		5%	$	104.5		(42%)	$	144.0	$	254.9		(44%)
Adjusted diluted EPS	$	0.03	$	0.11		(75.7)%	$	0.07		(60.7)%	$	0.28	$	0.68		(58.8)%
Operating cash flow	$	1132.1	$	211.01		~~454~~188.8%	$	(828.7)		~~227~~11.7%	$	~~211~~243.23	$	~~149~~178.64		4136.4%
Capital expenditures1	$	2117.29	$	21.92		(3%15.2)%	$	1925.45		9(29.7)%	$	6179.2	$	6086.95		1(8.4)%
Free cash flow2	$	~~(10~~14.0)1	$	(1910.90)		49241.0%	$	~~(28~~3.1)2		64341.1%	$	~~149~~164.91	$	8891.79		6978.5%

(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, “~~Despite~~2024 ~~the~~was ~~market~~a ~~headwinds,~~successful ~~third~~year ~~quarter~~for ~~results~~Ferroglobe ~~were~~with inmany ~~line~~accomplishments. ~~with~~We ~~our~~achieved ~~expectations~~an ~~with~~ adjusted EBITDA ofper ~~$60~~our ~~million,~~guidance ~~slightly~~and ~~higher~~generated ~~than~~strong infree ~~the~~cash ~~second quarter~~flow, ~~while~~which ~~volumes~~was ~~were~~used ~~impacted~~to byrepay ~~soft~~our ~~demand~~senior secured notes. WeThis ~~are~~strong ~~taking~~free ~~appropriate~~cash ~~actions~~flow toand ~~reduce~~balance ~~production~~sheet inenabled ~~response~~us to ~~current~~initiate ~~demand~~the ~~trends~~capital return program, including dividends and share repurchases, while positioning the company for growth. We are optimistic that, while there are uncertainties in the markets, demand will ~~improve~~begin improving in ~~2025~~the assecond ~~the~~half ~~year~~of ~~progresses~~2025. ”

“WeMaterial ~~see~~progress ~~significant~~has ~~potential~~been inmade ~~2025~~ in ~~the~~implementing ~~U.S.~~trade ~~ferrosilicon~~measures ~~market.~~with ~~The~~the US Department of Commerce, ~~has~~imposing ~~imposed~~strong final anti-dumping and countervailing duties ~~of 283% and 748%, respectively,~~ on ~~all~~ Russian ferrosilicon imports. Onwhile ~~November~~continuing 1,to investigate the ~~U.S.~~cases ~~Department~~against ~~of Commerce announced preliminary anti-dumping duties on~~ Brazil, Kazakhstan, and Malaysia,. ~~ranging~~The ~~from~~European 1%Commission toinitiated ~~22%.~~its Insafeguard ~~addition~~investigation into the imports of silicon metals, ~~preliminary~~silicon ~~countervailing~~alloys ~~duties~~and ~~ranging~~manganese ~~from~~alloys ~~2.4%~~into tothe 61EU.7% ~~were~~Ferroglobe, ~~announced~~being ina ~~September~~local ~~against~~producer ~~Brazil,~~in ~~Kazakhstan~~both the US and ~~Malaysia.~~ Europe, will

~~“As~~be ~~part of our next ESG Report, we will announce~~ a ~~decarbonization~~beneficiary ~~objective~~ of ~~reducing~~these ~~scope~~trade 1measures ~~and~~as 2they ~~carbon~~will ~~emissions~~reduce byartificially atlow-priced ~~least~~competitive ~~26%~~products byin ~~2030~~the ~~from~~market, ahelping ~~2020~~the ~~baseline~~market ~~as part of our goal~~ to ~~enhance sustainability and transparency,” concluded Dr~~stabilize. ~~Levi.~~

“We are issuing adjusted EBITDA guidance for 2025 of $100 million to $170 million. The wide variance in our guidance reflects uncertainties related to trade measures, market conditions and geopolitical factors,” concluded Dr. Levi.

Consolidated Sales

In the fourth quarter of 2024, Ferroglobe reported sales of $367.5 million, a decrease of 15.2% over the prior quarter and a decrease of 2.2% from the comparable prior year period. This decrease compared to the prior quarter was primarily attributable to lower sales volumes in our portfolio of products, partially offset by higher tons sold in manganese-based alloys. Sales of silicon metal, silicon-based alloys and manganese-based alloys declined by $32.2 million, $16.7 million and $11.2 million, respectively, compared with the prior quarter.

For the full year 2024, sales were $1,644 million versus $1,650 million in the prior year, a decrease of 0.4%. This decrease was mainly driven by a 17.6% decrease in silicon-based alloys revenue, partially offset by a 28.4% increase in Manganese-Based Alloys revenues.

In the third quarter of 2024, Ferroglobe reported net sales of $433.5 million, a decrease of 3.9% over the prior quarter and an increase of 4.0% from the comparable prior year period. This decrease over the prior quarter is primarily attributable to lower sales volumes in our portfolio products, partially offset by higher pricing in silicon metal and manganese-based specialty alloys. Silicon metal, silicon-based alloys and manganese-based alloys declined in sales by $10.4 million, $3.5 million and $8.4 million, respectively.

Product Category Highlights

Silicon Metal

($,000)

Q3Q4 2024

Q2Q3 2024

% Q/Q

Q3Q4 2023

% Y/Y

YTD 2024

YTD 2023

% Y/Y

Shipments in metric tons:

5649,~~910~~797

6256,~~872~~910

(912.5)%

5749,~~031~~761

(0.2)1%

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

~~144~~194,~~624~~385

1914.6%

Average selling price ($/MT):

3,~~401~~240

3,~~244~~401

(4.87)%

3,~~481~~371

(2.3.9)%

3,~~268~~262

3,~~834~~715

(1412.82)%

Silicon Metal Revenue

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

~~203~~193,~~957~~551

(516.16)%

~~198~~167,~~525~~744

(23.58)%

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

~~554~~722,~~488~~140

10.96%

Silicon Metal Adj.EBITDA

4016,~~554~~849

3440,~~584~~554

17(58.35)%

8022,~~823~~188

(4924.81)%

91108,~~209~~058

~~194~~216,~~347~~534

(5350.1)%

Silicon Metal Adj.EBITDA Margin

2110.04%

1721.0%

4013.72%

1614.19%

3530.0%

Silicon metal revenue in the ~~third~~fourth quarter was $~~193~~161.63 million, a decrease of 516.16% over the prior quarter and a decrease of 23.58% from the ~~comparable~~year-ago ~~prior~~ period. ~~Average~~The ~~realized~~average selling price ~~increased~~decreased by 4.87%, and shipments decreased by 12.5% due to lower volumes, mainly in EMEA ~~and the U~~.S. ~~The~~Adjusted ~~adjusted~~ EBITDA for silicon metal ~~increased~~decreased 1758.35% to $4016.68 million during the ~~third~~fourth quarter, compared with $3440.6 million ~~for~~in the prior quarter. The ~~improvement~~softening in adjusted EBITDA margin in the quarter was mainly driven by ~~higher~~lower average selling ~~price~~prices and higher energy ~~compensation in France~~costs.

Silicon-Based Alloys

($,000)

Q3Q4 2024

Q2Q3 2024

% Q/Q

Q3Q4 2023

% Y/Y

YTD 2024

YTD 2023

% Y/Y

Shipments in metric tons:

4539,~~489~~417

4645,~~953~~489

(313.13)%

46,~~427~~446

(215.01)%

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

~~144~~191,~~984~~431

(04.94)%

Average selling price ($/MT):

2,~~237~~159

2,~~241~~237

(03.25)%

2,~~475~~300

(9.6.1)%

2,~~221~~208

2,~~645~~562

(1613.08)%

Silicon-based Alloys Revenue

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

~~105~~101,~~222~~759

(316.34)%

~~114~~106,~~907~~826

(1120.43)%

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

~~383~~490,~~483~~446

(1617.86)%

Silicon-based Alloys Adj.EBITDA

23,~~356~~093

102,~~199~~356

~~(76~~31.9)3%

2534,~~402~~973

(9091.72)%

2630,~~967~~060

79114,~~138~~111

(6573.97)%

Silicon-based Alloys Adj.EBITDA Margin

2.3.6%

92.73%

2232.17%

87.54%

2023.63%

Silicon-based alloy revenue in the ~~third~~fourth quarter was $~~101~~85.81 million, a decrease of 316.34% over the prior quarter and a decrease of 1120.43% from the ~~comparable~~year-ago ~~prior~~ period. Shipments decreased by 313.13%, which was attributable to weak demand ~~weakness~~in the US and Europe, mainly in the auto and construction end markets. Adjusted EBITDA for ~~the~~ silicon-based alloys ~~decreased~~increased to $23.41 million in the ~~third~~fourth quarter of 2024, aan ~~decrease~~increase of 7631.93% compared with $~~10.~~2.4 million ~~for~~in the prior quarter. Adjusted EBITDA margin ~~decreased~~improvement ~~mainly~~was ~~due~~primarily todriven ~~cost~~by ~~deterioration attributed to volume declines,~~ lower ~~fixed~~raw ~~cost~~material ~~absorption and decreasing efficiency~~costs.

Manganese-Based Alloys

($,000)

Q3Q4 2024

Q2Q3 2024

% Q/Q

Q3Q4 2023

% Y/Y

YTD 2024

YTD 2023

% Y/Y

Shipments in metric tons:

6467,~~495~~712

8164,~~464~~495

~~(20~~5.8)0%

5661,~~399~~404

1410.43%

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

~~165~~227,~~839~~243

2521.65%

Average selling price ($/MT):

1,~~391~~159

1,~~204~~391

15(16.57)%

~~1,046~~985

3317.07%

1,~~221~~206

1,~~198~~141

15.97%

Manganese-based Alloys Revenue

8978,~~713~~478

9889,~~083~~713

(812.5)%

5860,~~993~~483

5229.18%

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

~~198~~259,~~675~~284

28.04%

Manganese-based Alloys Adj.EBITDA

277,~~854~~091

1327,~~832~~854

~~101~~(74.45)%

1123,~~000~~886

~~153~~(70.23)%

4754,~~206~~297

1437,~~107~~994

~~234~~42.69%

Manganese-based Alloys Adj.EBITDA Margin

319.0%

1431.10%

1839.65%

1816.63%

714.17%

Manganese-based alloy revenue in the ~~third~~fourth quarter was $8978.75 million, a decrease of 812.5% over the prior quarter and an increase of 5229.18% from the ~~comparable~~year-ago ~~prior~~ period. The average realized selling price ~~increased~~decreased by 1516.57% and total shipments ~~decreased~~increased by 205.80%. Adjusted EBITDA for the manganese-based alloys portfolio ~~increased~~decreased to $277.91 million in the ~~third~~fourth quarter of 2024, ana ~~increase~~decrease of ~~101~~74.45% compared with $1327.89 million ~~for~~in the prior quarter. The ~~increase~~decrease in adjusted EBITDA margin was mainly driven by ~~higher~~lower ~~sales~~selling prices and ~~the~~higher ~~energy~~manganese ~~compensation~~ore ~~in France in the third quarter of 2024~~costs.

Raw materials and energy consumption for production

Raw materials and energy consumption for production was $~~256~~250.28 million in the ~~third~~fourth quarter of 2024 versus $~~264~~255.31 million in the prior quarter, a decrease of 3.1.7%. As a percentage of sales, raw materials and energy consumption for production was 5968.2% in the ~~third~~fourth quarter of 2024, ~~equivalent~~compared to 58.8% in the ~~prior~~third quarter. ~~Cost~~ ~~improvement~~The ~~compared~~increase toin ~~the~~cost ~~previous~~as ~~quarter~~a percentage of sales was driven by ahigher ~~decrease in~~ energy ~~costs in France~~ and ~~Spain and lower~~ raw ~~material~~materials ~~prices~~costs, ~~primarily~~including manganese ore.

~~Net Income~~For ~~Attributable~~the tofull-year ~~the~~2024, ~~Parent~~raw materials and energy consumption for production were $1,027 million, or 62.5% of sales, versus $879 million, or 53.3% of sales in 2023. The increase in these costs as a percent of sales was mainly driven by lower prices and higher energy costs.

Net (Loss) Income Attributable to the Parent

In the ~~third~~fourth quarter of 2024, net ~~income~~loss attributable to the parent was $1846.84 million, or $(0.1025) per diluted share, compared to a net income attributable to the parent of $3418.98 million, or $0.1810 per diluted share in the ~~second~~third quarter. This decrease is primarily attributable to $61.3 million recorded in impairment of the Company’s cash-generating units which were not recorded in the prior period. The Company reported adjusted diluted earnings per share of $0.1103 for the ~~third~~fourth quarter, compared with adjusted earnings per share of $0.1311 per share in the prior quarter.

For the full year 2024, net profit attributable to the parent was $5.2 million, or $0.03 per diluted share, compared to $82.7 million, or $0.43 per diluted share for the full year 2023.

Adjusted EBITDA

In the ~~third~~fourth quarter of 2024, adjusted EBITDA was $609.48 million, or 132.97% of sales, ana ~~increase~~decrease of 111.3% compared to adjusted EBITDA of $5760.74 million, or 1213.89% of sales, from the ~~second~~third quarter of 2024. This was mainly driven by ~~stronger~~higher costs and reduced pricing.

For the full year 2024, adjusted EBITDA was $153.8 million, or 9.4% of sales, compared to adjusted EBITDA of $315.2 million, or 19.1% of sales, for the full year 2023. The reduction is largely related to lower average sales prices and an increase in energy costs.

Total Cash, Adjusted Gross Debt and Working Capital


													%
($ in millions)	Q3Q4 2024		Q2Q3 2024		$		%		Q3Q4 2023		$		Y/Y

Total Cash1	$	~~120~~133.83	$	~~144~~120.58		~~(23~~12.7)5		~~(16~~10.3%)	$	~~166~~137.06		(454.24)		(~~27%~~3.2)%
Adjusted Gross Debt2	$	8994.04	$	8089.70		85.3		106.0%	$	~~237~~238.15		(~~148~~144.01)		(~~62%~~60.4)%
Net (Cash)/Debt	$	(31.8)	$	(63.7)		31.9		50%	$	71.1		(102.9)		(145%)
Net Cash/ (Debt)	$	38.9	$	31.8		7.1		22.4%	$	(100.9)		139.7		138.6%
Total Working Capital	$	528.6	$	499.1		29.5		6%	$	510.1		18.6		4%
Total Working Capital3	$	460.8	$	528.6		(67.8)		(12.8)%	$	510.7		(49.9)		(9.8)%

(1)

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

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

The Company’s ~~cash~~total ~~and~~ cash ~~equivalents~~ was $~~120~~133.83 million as of ~~September~~December 3031, 2024, ~~down~~up $2312.75 million from $~~144~~120.58 million as of ~~June~~ September 30, 2024.

During the ~~third~~fourth quarter, the Company generated $1132.1 million in cash flow from ~~operations~~operating activities, used $~~20.~~4.8 million in cash ~~flow~~flows from investing activities and used $169.49 million in cash flows from financing activities, ~~mainly~~ due to ~~loan~~ repayments of bank borrowings of $614.68 million, ~~payments for~~ lease ~~liabilities~~payments of $54.85 million, ~~and~~ dividend payments of $2.4 million, interest payments of $2.0 million and share repurchases of $1.9 million, partially offset by cash proceeds from promissory notes of $10.3 million and sale-leaseback financing of $6.1 million.

~~Total~~For ~~working~~the ~~capital~~full ~~was~~year ~~$528.6 million on September 30,~~ 2024, ~~up from $499.1 million on June 30, 2024. The $29.5 million increase in working capital balance during~~ the ~~quarter~~Company ~~was~~generated ~~mainly due to a~~ $12243.3 million ~~increase~~of inoperating ~~trade~~cash flow and ~~other~~used ~~receivables,~~ $1066.39 million ~~increase~~of cash in ~~inventories~~investing activities and $6175.95 million ~~decrease~~ in ~~trade~~financing ~~and other payables~~ activities.

Beatriz García-Cos, Ferroglobe’s Chief Financial Officer, commented, “We posted a strong adjusted EBITDA of $60 million in the third quarter and are reiterating our annual adjusted EBITDA guidance of $150 million to $170 million. Our working capital increased during the quarter as we are preparing for earlier idling of certain operations in the fourth quarter to manage inventory and preserve cash.”

Total working capital was $460.8 million on December 31, 2024, down from $528.6 million on September 30, 2024. The $67.8 million decrease in working capital balance during the quarter was due to a $60.6 million decrease in inventories, and a $37.3 million decrease in trade and other receivables, partially offset by a $30.1 million decrease in trade and other payables.

Beatriz García-Cos, Ferroglobe’s Chief Financial Officer, commented, “We achieved many of our targets in 2024, including paying off our senior secured notes and achieving a net cash positive position, which was $38.9 million, at the end of the year. We reduced our total working capital by approximately $50 million during the year and initiated our capital return program consisting of quarterly dividends and share repurchases.”

Capital Returns

During the ~~third~~fourth quarter, Ferroglobe repurchased ~~approximately 117~~481,~~000~~578 shares at an average price of $4.2202 per share and paid a quarterly cash dividend of $0.013 per share on December 20, 2024. Our next cash dividend of $0.014 per share will be paid on March 26, 2025, to shareholders of record as of March 20, 2025.

paid a quarterly cash dividend of $0.013 per share on September 27, 2024. Our next cash dividend of $0.013 per share will be paid on December 27, 2024, to shareholders of record as of December 20, 2024.

Conference Call

Ferroglobe invites all interested persons to participate on its conference call at 8:30 AM, Eastern Time on ~~November~~February 720, ~~2024~~2025. The call may also be accessed via an audio webcast.

To join via phone: Conference call participants should ~~dial 800~~pre-~~715-9871~~register ~~(US~~using ~~toll-free)~~this ~~or 646-307-1963 (international) approximately 15 minutes prior to start time~~link https://register.vevent.com/register/BIb6e61c804d2b45609dc3abc37310abd0

ToOnce ~~join~~registered, ~~via~~you ~~webcast: A~~will ~~simultaneous~~receive ~~audio~~the ~~webcast,~~dial-in numbers and ~~replay~~a ~~will~~personal bePIN, ~~accessible~~which ~~here:https://edge~~are required to access the conference call.~~media-server.com/mmc/p/ej52hvj2~~

To join via webcast:
A simultaneous audio webcast, and replay will be accessible here:
https://edge.media-server.com/mmc/p/frvjkywe

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”, “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-GAAP 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 ~~profit~~diluted ~~per share~~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, 2024		~~June~~September 30, 2024			~~September~~December 3031, 2023		~~September~~December 3031, 2024	~~September~~December 3031, 2023
Sales	$	~~433~~367,~~533~~505	$	~~451~~433,~~048~~533	$	~~416~~375,~~810~~951	$	1,~~276~~643,~~434~~939	$	1,~~274~~650,~~083~~034
Raw materials and energy consumption for production		(~~256~~250,~~224~~763)		(~~264~~255,~~285~~062)		(~~195~~199,~~600~~572)		(~~777~~1,~~528~~027,130)		(~~679~~879,~~714~~286)
Energy consumption for production (PPA impact)		1,162		2,270		—		1,162		—
Other operating income		18,892		27,202		34,944		84,378		100,992
Other operating income		27,202		27,448		23,546		65,485		66,049
Staff costs		(70,241)		(71,885)		(79,761)		(279,864)		(305,859)
Staff costs		(71,885)		(67,220)		(83,582)		(209,624)		(226,097)
Other operating expense		(52,289)		(74,475)		(73,071)		(265,182)		(270,090)
Other operating expense		(74,475)		(86,071)		(65,708)		(212,893)		(197,020)
Depreciation and amortization		(19,020)		(18,899)		(20,090)		(75,463)		(73,532)
Depreciation and amortization charges		(18,899)		(18,875)		(19,000)		(56,443)		(53,442)
Impairment loss		(61,348)		—		(23,614)		(61,348)		(25,290)
Impairment (loss)		—		—		(1,035)		—		(1,676)
Other (loss) gain		(571)		189		(563)		555		(29)
Other gain (loss)		189		238		(12)		1,125		533
Operating (loss) profit		(67,835)		40,603		14,224		19,885		196,940
Operating profit		40,603		44,553		75,419		87,718		182,716
Finance income		3,533		829		1,100		7,248		5,422
Net finance income (expense)		(2,154)		(5,315)		(9,165)		(15,138)		(21,041)
Finance costs		(3,089)		(2,983)		(13,431)		(21,942)		(38,793)
Exchange differences		(615,~~576)~~167		3(6,~~591~~576)		1(4,~~258~~897)		(113,~~602)~~565		(27,~~654~~551)
Profit (loss) profit before tax		31,873		42,829		67,512		70,978		159,021
Profit (loss) before tax		(52,224)		31,873		(3,004)		18,756		156,018
Income tax (expense)		(13,301)		(8,481)		(23,399)		(20,627)		(53,380)
Income tax benefit/(expense)		4,376		(13,301)		(4,160)		(16,252)		(57,540)
Total profit for the period		18,572		34,348		44,113		50,351		105,641
Total (loss) profit for the period		(47,848)		18,572		(7,164)		2,504		98,478

Profit attributable to the parent	$	18,814	$	34,880	$	40,884	$	51,671	$	93,779
(Loss) profit attributable to the parent	$	(46,430)	$	18,814	$	(11,118)	$	5,242	$	82,662
(Profit) loss profit attributable to non-controlling interest		242		532		(3,229)		1,320		(11,862)
(Loss) profit attributable to non-controlling interest		(1,418)		(242)		3,954		(2,738)		15,816

EBITDA	$	52(33,~~926~~648)	$	6752,~~019~~926	$	9529,~~677~~417	$	~~142~~108,~~559~~913	$	~~233~~262,~~504~~921
Adjusted EBITDA	$	609,~~410~~845	$	5760,~~739~~410	$	~~104~~60,~~496~~262	$	~~143~~153,~~953~~800	$	~~254~~315,~~937~~198


Weighted average shares outstanding
Weighted average number of shares outstanding
Basic		188,~~325~~072		~~189~~188,~~298~~325		187,872		188,~~168~~145		187,872
Diluted		~~190~~188,~~393~~072		~~191~~190,~~006~~393		190,~~531~~801		~~190~~188,~~176~~809		190,~~242~~290

Profit per ordinary share
(Loss) profit per ordinary share
Basic	$	(0.1025)	$	0.1810	$	(0.2206)	$	0.2703	$	0.5044
Diluted	$	(0.1025)	$	0.1810	$	(0.2106)	$	0.2703	$	0.4943

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,
	2024		2024		2023
ASSETS
Non-current assets
Goodwill	$	2914,~~702~~219	$	29,702	$	29,702
Intangible assets		~~131~~103,~~183~~095		~~192~~131,~~127~~183		138,345
Property, plant and equipment		~~523~~469,~~091~~056		~~502~~523,~~610~~091		501,396
Other financial assets		1619,~~492~~744		1516,~~744~~492		19,792
Deferred tax assets		86,~~256~~580		98,~~501~~256		8,760
Receivables from related parties		1,~~679~~558		1,~~606~~679		1,658
Other non-current assets		2422,~~288~~451		2224,~~003~~288		22,156
Total non-current assets		~~734~~636,~~691~~703		~~773~~734,~~293~~691		721,809
Current assets
Inventories		~~407~~347,~~782~~139		~~397~~407,~~436~~782		383,841
Trade and other receivables		309,276		296,980		310,243
Trade receivables		188,816		233,228		220,330
Receivables from related parties		2,808		2,685		2,772
Other receivables		83,103		76,048		89,913
Current income tax assets		7,890		8,901		15,977
Receivables from related parties		—		2,808		2,772
Other financial assets		3,209		275		2
Current income tax assets		7,692		7,890		15,977
Other current assets		52,468		46,528		186,477
Other financial assets		5,569		3,209		2
Restricted cash and cash equivalents		306		301		1,179
Other current assets		52,014		52,468		186,477
Cash and cash equivalents		120,504		144,186		136,470
Restricted cash and cash equivalents		298		306		1,179
Total current assets		904,243		897,292		1,036,961
Cash and cash equivalents		132,973		120,504		136,470
Total assets	$	1,638,934	$	1,670,585	$	1,758,770
Total current assets		817,604		904,243		1,036,961
Total assets	$	1,454,307	$	1,638,934	$	1,758,770

EQUITY AND LIABILITIES
Equity	$	~~915~~816,~~707~~105	$	~~876~~915,~~006~~707	$	869,886
Non-current liabilities
Deferred income		348,~~619~~014		5934,~~267~~619		26,980
Provisions		2524,~~964~~384		2325,~~434~~964		19,970
Provision for pensions		3127,~~213~~618		2931,~~760~~213		29,805
Bank borrowings		1413,~~207~~911		14,~~397~~207		14,913
Lease liabilities		5756,~~864~~585		5457,~~463~~864		2054,~~304~~483
Debt instruments		—		—		149,015
Other financial liabilities		2725,~~280~~688		2827,~~116~~280		65,231
Other obligations		6,116		5,444		35,883
Other non-current liabilities		13,759		6,359		1,903
Other non-current liabilities		243		194		199
Deferred tax liabilities		19,629		31,197		32,582
Deferred tax liabilities		31,197		30,265		32,582
Total non-current liabilities		189,588		228,703		394,882
Total non-current liabilities		228,703		245,340		394,882
Current liabilities
Provisions		8883,~~986~~132		~~137~~88,~~094~~986		122,757
Provision for pensions		~~166~~168		~~163~~166		169
Bank borrowings		6143,~~474~~251		5761,~~573~~474		31,635
Lease liabilities		12,~~182~~867		1112,~~229~~182		811,~~083~~766
Debt instruments		—10,135		—		5,765
Other financial liabilities		4548,~~942~~117		4945,~~338~~942		16,052
Payables to related parties		2,~~759~~664		42,~~537~~759		2,429
Trade and other payables		~~188~~158,~~443~~251		~~195~~188,~~275~~443		183,375
Current income tax liabilities		710,~~795~~623		57,~~632~~795		8,351
Other obligations		12,975		11,608		14,183
Other current liabilities		79,406		86,777		111,703
Other current liabilities		73,802		76,790		101,203
Total current liabilities		448,614		494,524		494,002
Total current liabilities		494,524		549,239		494,002
Total equity and liabilities	$	1,454,307	$	1,638,934	$	1,758,770
Total equity and liabilities	$	1,638,934	$	1,670,585	$	1,758,770

Ferroglobe PLC and Subsidiaries

Unaudited Condensed Consolidated Statement of Cash Flows


	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, 2024		~~June~~September 30, 2024		~~September~~December 3031, 2023		~~September~~December 3031, 2024		~~September~~December 3031, 2023
Cash flows from operating activities:
Profit for the period	$	18(47,~~572~~848)	$	3418,~~348~~572	$	44(7,~~113~~164)	$	502,~~351~~504	$	~~105~~98,~~641~~478
Adjustments to reconcile net profit to net cash provided by operating activities:
Income tax expense		13,301		8,481		23,399		20,627		53,380
Income tax (benefit)/expense		(4,376)		13,301		4,160		16,252		57,540
Depreciation and amortization charges		18,899		18,875		19,000		56,443		53,442
Depreciation and amortization		19,020		18,899		20,090		75,463		73,532
Net finance expense		2,154		5,315		9,165		15,138		21,041
Finance income		(3,533)		(829)		(1,100)		(7,248)		(5,422)
Exchange differences		6,576		(3,591)		(1,258)		1,602		2,654
Finance costs		3,089		2,983		13,431		21,942		38,793
Impairment loss		—		—		1,035		—		1,676
Exchange differences		(15,167)		6,576		4,897		(13,565)		7,551
Net loss (gain) due to changes in the value of asset		(193)		—		4		(301)		(365)
Impairment loss		61,348		—		23,614		61,348		25,290
Loss (gain) on disposal of non-current assets		4		—		—		(42)		(183)
Share-based compensation		1,587		1,496		683		4,924		7,402
Share-based compensation		1,496		913		2,773		3,337		6,719
Other loss (gain)		571		(189)		562		(555)		29
Other loss (gain)		—		(238)		8		(782)		14
Changes in operating assets and liabilities
Decrease (increase) in inventories		(523,~~414)~~146		(365,~~696~~414)		(121,~~482~~746)		~~(23,099)~~47		~~103~~102,~~925~~179
Decrease (increase) in trade receivables		(131,~~638)~~756		527,~~982~~018		(16,~~183)~~439		422,~~664~~765		~~131~~80,~~857~~766
(Decrease) increase in trade payables		(13,678)		17,387		(22,361)		1,784		(77,056)
Decrease (increase) in other receivables		(12,885)		(28,656)		(21,838)		770		45,692
Other changes in operating assets and liabilities		(22,118)		(40,014)		(46,796)		92,465		(152,510)
Decrease (increase) in energy receivable		(5,735)		(10,508)		(33,456)		131,959		(159,807)
Income taxes (paid)		(6,847)		(8,756)		(9,144)		(11,023)		(100,607)
(Decrease) increase in trade payables		(19,039)		(13,678)		6,483		(17,255)		(70,573)
Net cash provided by (used in ) operating activities:		11,114		2,006		(8,727)		211,164		149,628
Other changes in operating assets and liabilities		4,936		(11,610)		16,389		(40,294)		(9,770)
Income taxes paid		(4,776)		(6,847)		(12,701)		(15,799)		(113,308)
Net cash provided by operating activities:		32,094		11,114		28,743		243,258		178,372
Cash flows from investing activities:
Interest and finance income received		~~766~~692		~~600~~766		~~739~~1,349		2,~~107~~799		23,~~376~~725
Payments due to investments:
Intangible assets		(~~850~~855)		(~~735~~850)		(~~516~~1,331)		(23,~~169~~024)		(12,~~456~~787)
Property, plant and equipment		(2017,~~302~~090)		(2120,~~132~~302)		(1824,~~853~~204)		(5976,~~075~~165)		(5983,~~475~~679)
Other financial assets		—		~~(3,000)~~—		—		(3,000)		—
Net cash used in by investing activities		(20,386)		(24,267)		(18,630)		(62,137)		(58,555)
Disposals:
Other non-current assets		—		—		935		—		935
Receipt of asset-related government grant		12,453		—		—		12,453		—
Net cash used in investing activities		(4,800)		(20,386)		(23,251)		(66,937)		(81,806)
Cash flows from financing activities:
Dividends paid		(2,~~441~~436)		(2,~~443~~441)		—		(79,~~322~~758)		—
Repayment of debt instruments		—		—		(150,000)		(147,624)		(178,025)
Payment for debt and equity issuance costs		(6)						(6)
Repayment of debt instruments		—		—		(1,050)		(147,624)		(179,075)
Proceeds from debt issuance		10,255		—		—		10,255		—
Increase/(decrease) in bank borrowings:
Borrowings		~~145~~122,~~804~~809		145,~~962~~804		~~131~~39,~~063~~239		~~386~~509,~~377~~186		~~393~~432,~~035~~274
Payments		(~~144~~137,~~292~~650)		(~~130~~144,~~772~~292)		(~~129~~58,~~714~~052)		(~~358~~495,~~076~~726)		(~~398~~456,~~454~~506)
Payments for lease liabilities		(54,~~834~~511)		(25,~~883~~834)		(26,~~956~~913)		(1116,~~690~~201)		(814,~~054~~967)
Other (payments) receipts from financing activities		(2,176)		(289)		—		(2,657)		(17,377)
Proceeds from other financing liabilities		6,054		—		—		6,054		—
Payments to acquire or redeem own shares		(492)		—		—		(492)		—
Other (payments) receipts from financing activities		(411)		(2,176)		(4,289)		(3,068)		(21,666)
Interest paid		(6,955)		(2,574)		(19,371)		(24,163)		(39,284)
Payments to acquire own shares		(1,936)		(492)		—		(2,428)		—
Net cash (used in) provided by financing activities		(16,386)		7,001		(170,978)		(165,647)		(248,159)
Interest paid		(2,029)		(6,955)		(2,923)		(26,192)		(42,207)
Total net (decrease) in cash and cash equivalents		(25,658)		(15,260)		(198,335)		(16,620)		(157,086)
Net cash (used in) financing activities		(9,861)		(16,386)		(33,988)		(175,508)		(282,147)
Beginning balance of cash and cash equivalents		144,487		159,768		363,181		137,649		322,943
Total net increase (decrease) in cash and cash equivalents		17,433		(25,658)		(28,496)		813		(185,581)
Exchange differences on cash and cash equivalents in foreign currencies		1,981		(21)		1,127		(219)		116
Beginning balance of cash and cash equivalents		120,810		144,487		165,973		137,649		322,943
Ending balance of cash and cash equivalents	$	120,810	$	144,487	$	165,973	$	120,810	$	165,973
Foreign exchange (losses) gains on cash and cash equivalents		(4,972)		1,981		172		(5,191)		287
Restricted cash and cash equivalents		306		301		4,525		306		4,525
Ending balance of cash and cash equivalents	$	133,271	$	120,810	$	137,649	$	133,271	$	137,649
Cash and cash equivalents		120,504		144,186		161,448		120,504		161,448
Restricted cash and cash equivalents		298		306		1,179		298		1,179
Ending balance of cash and cash equivalents	$	120,810	$	144,487	$	165,973	$	120,810	$	165,973
Cash and cash equivalents		132,973		120,504		136,470		132,973		136,470
Ending balance of cash and cash equivalents	$	133,271	$	120,810	$	137,649	$	133,271	$	137,649

Adjusted EBITDA ($,000):



	Q3Q4´24		Q2Q3´24		Q3Q4´23		YTD´24		YTD´23
Profit attributable to the parent	$	18,814	$	34,880	$	40,884	$	51,671	$	93,779
(Loss) profit attributable to the parent	$	(46,430)	$	18,814	$	(11,118)	$	5,242	$	82,662
Profit (loss) attributable to non-controlling interest		(242)		(532)		3,229		(1,320)		11,862
(Loss) profit attributable to non-controlling interest		(1,418)		(242)		3,954		(2,738)		15,816
Income tax expense		13(4,~~301~~376)		813,~~481~~301		234,~~399~~160		2016,~~627~~252		5357,~~380~~540
Net finance expense		2,154		5,315		9,165		15,138		21,041
Finance income		(3,533)		(829)		(1,100)		(7,248)		(5,422)
Depreciation and amortization charges		18,899		18,875		19,000		56,443		53,442
Finance costs		3,089		2,983		13,431		21,942		38,793
EBITDA		52,926		67,019		95,677		142,559		233,504
Depreciation and amortization charges		19,020		18,899		20,090		75,463		73,532
Exchange differences		6,576		(3,591)		(1,258)		1,602		2,654
EBITDA		(33,648)		52,926		29,417		108,913		262,921
Impairment		—		—		1,035		—		1,676
Exchange differences		(15,167)		6,576		4,897		(13,565)		7,551
Restructuring and termination costs		—		(4,540)		5,535		(4,540)		5,535
Impairment		61,348		—		23,614		61,348		25,290
New strategy implementation		1,413		1,012		—		3,786		1,973
Restructuring and termination costs		(2,693)		—		—		(7,233)		5,535
Subactivity		657		109		3,507		1,708		9,595
New strategy implementation		1,629		1,413		(1,000)		5,416		973
PPA Energy		(1,162)		(2,270)		—		(1,162)		—
Subactivity		1,457		657		2,995		3,164		12,589
Adjusted EBITDA	$	60,410	$	57,739	$	104,496	$	143,953	$	254,937
PPA Energy		(3,081)		(1,162)		339		(4,243)		339
Adjusted EBITDA	$	9,845	$	60,410	$	60,262	$	153,800	$	315,198

Adjusted profit attributable to Ferroglobe ($,000):



	Q3Q4´24		Q2Q3´24		Q3Q4´23		YTD´24		YTD´23
Profit attributable to the parent	$	18,814	$	34,880	$	40,884	$	51,671	$	93,779
(Loss) Profit attributable to the parent	$	(46,430)	$	18,814	$	(11,118)	$	5,242	$	82,662
Tax rate adjustment		312,~~271~~059		(43,~~997)~~271		54,~~441~~959		(110,~~710)~~349		1116,~~080~~039
Impairment		—41,209		—		~~760~~17,333		—41,209		118,~~230~~563
Restructuring and termination costs		—(1,846)		~~(3,111)~~—		~~4,063~~—		(34,~~111~~957)		4,063
New strategy implementation		~~968~~1,116		~~694~~968		—(734)		23,~~595~~712		~~1,448~~714
Subactivity		~~450~~998		75450		2,~~574~~198		12,~~170~~168		79,~~043~~240
PPA Energy		(~~796~~2,111)		(~~1,556~~796)		—249		(~~796~~2,908)		—249
Adjusted profit attributable to the parent	$	224,~~707~~996	$	2522,~~984~~707	$	5312,~~722~~888	$	4954,~~819~~816	$	~~118~~131,~~642~~529

Adjusted diluted profit per share:



	Q3Q4´24		Q2Q3´24		Q3Q4´23		YTD´24		YTD´23
Diluted profit per ordinary share	$	0.10	$	0.18	$	0.21	$	0.27	$	0.49
Diluted (loss) profit per ordinary share	$	(0.25)	$	0.10	$	(0.06)	$	0.03	$	0.43
Tax rate adjustment		0.0206		(0.~~03)~~02		0.03		(0.~~01)~~05		0.0608
Impairment		—0.22		—		0.0009		—0.22		0.0110
Restructuring and termination costs		—(0.01)		~~(0.02)~~—		~~0.02~~—		(0.0203)		0.02
New strategy implementation		0.01		0.0001		—(0.00)		0.0102		0.0100
Subactivity		0.0001		0.00		0.01		0.01		0.0405
PPA Energy		(0.0001)		(0.0100)		—0.00		(0.0002)		—0.00
Adjusted diluted profit per ordinary share	$	0.1103	$	0.1311	$	0.2707	$	0.2528	$	0.6368

NASDAQ: GSM ~~Third~~Fourth Quarter and Full Year 2024 Results ~~November~~February 720, ~~2024~~2025 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," "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, risks that Ferroglobe will not successfully integrate the businesses of Globe Specialty Metals, Inc. and Grupo FerroAtlántica SAU, that we will not realize estimated cost savings, value of certain tax assets, synergies and growth, and/or that such benefits may take longer to realize than expected. Important factors that may cause actual results to differ include, but are not limited to: (i) risks relating to unanticipated costs of integration, including operating costs, customer loss and business disruption being greater than expected; (ii) our organizational and governance structure; (iii) the ability to hire and retain key personnel; (iv) regional, national or global political, economic, business, competitive, market and regulatory conditions including, among others, changes in metals prices; (v) increases in the cost of energy and other raw materials; (vi) competition in the metals and foundry industries; (vii) environmental and regulatory risks; (viii) ability to identify liabilities associated with acquired properties prior to their acquisition; (ix) ability to manage operational risks including industrial accidents and natural disasters; (x) ability to manage a global footprint; (xi) changes in technology; (xii) ability to acquire or renew permits and approvals; (xiii) changes in legislation or governmental regulations affecting Ferroglobe; (xiv) conditions in the credit markets; (xv) risks associated with assumptions made in connection with critical accounting estimates and legal proceedings; (xvi) Ferroglobe's international operations, which are subject to the risks of currency fluctuations and foreign exchange controls; and (xvii) the potential of international unrest, economic downturn or effects of currencies, tax assessments, tax adjustments, anticipated tax rates, raw material costs or availability or other regulatory compliance costs. 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. 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 619, ~~2024~~2025 accompanying this presentation, which is incorporated by reference herein.

NASDAQ: GSM Q3Fourth Quarter and Full Year 2024 Business Review

NASDAQ: GSM • Posted ~~improved~~solid Q32024 Adj. EBITDA ~~despite~~of ~~market~~$154 ~~headwinds~~million • ~~Sales~~Generated ~~prices~~significant ~~improved~~free incash Q3flow ~~due~~of to$164 ~~higher~~million ~~Q2 index prices~~ • ~~Maintaining~~Strengthened ~~adj.~~balance ~~EBITDA~~sheet; ~~guidance~~net ofcash ~~$150-$170~~positive ~~million~~ • ~~Duties~~Initiated oncapital ~~FeSi~~return ~~imports~~program ~~from~~– ~~Russia,~~quarterly ~~Kazakhstan,~~dividends ~~Malaysia~~and &share ~~Brazil~~buybacks ~~expected~~• toFeSi ~~boost~~and USManganese ~~volumes~~demand ~~and~~is ~~prices~~mixed; inSiMe ~~2025~~demand soft • ~~Agile~~Indexes ~~production~~declined ~~model~~in ~~and~~earlier ~~flexible~~part ~~footprint~~of ~~provide~~Q4; ~~resilience~~stabilized torecently; ~~manage~~exhibiting ~~the~~bottom ~~short-term~~of ~~demand~~the ~~environment~~cycle behavior • USEnd ~~SiMe~~markets ~~expansion~~expected to ~~capitalize~~gradually onimprove ~~long-term~~starting ~~trends~~in 2025 SOLID ~~THIRD~~2024 ~~QUARTER~~PERFORMANCE ~~DESPITE~~2025 ~~HEADWINDS~~ADJ. EBITDA GUIDANCE $100 – $170 MILLION 4 • ~~Share~~Implementing ~~buyback~~S&OP ~~program~~to ~~initiated~~reduce ~~with~~working ~~discretionary~~capital ~~purchases~~by in$50 Q3million • ~~Established~~Developing ~~10b5-1~~advanced ~~program~~EV ~~during~~battery Q3solutions with Coreshell; increased investment due to continued strong test results • ~~Continued~~Increasing ~~our~~quarterly ~~1.3~~dividend ~~cents~~by 8% to $0.014 per share ~~dividend~~• inIntroducing Q32025 •Adj. ~~Index~~EBITDA ~~prices~~guidance ~~softened~~of ~~during~~$100M-$170M Q3• ~~for~~Favorable ~~most~~US oftrade ~~our~~decision ~~product~~against ~~segments~~all •Russian ~~Demand~~FeSi ~~remains~~imports ~~broadly~~• ~~muted;~~Final US ~~FeSi~~CVD ~~market~~and AD trade decision against Brazil, Kazakhstan and Malaysia expected toon ~~strengthen~~March in21, 2025 • ~~Expect~~EC ~~end~~initiated ~~markets~~safeguard toinvestigation; ~~improve~~anticipate inprovisional H2decision ~~2025~~in ~~Operations~~Q2 and ~~Strategy~~final ~~Financial~~decision ~~Performance~~in ~~Enhanced~~Q4 ~~Capital Return Policy~~ Current Market Environment 2024 Accomplishments 2025 Outlook Trade Measures

NASDAQ: GSM Increase from 2Q3Q Increase from 2Q3Q ~~Increase~~Decrease from 2Q3Q Decrease from 2Q3Q Free cash flow of $~~(10)M~~14M Operating cash flow of $200m Operating cash flow of $~~11M~~32M Adjusted EBITDA of $~~60M~~10M Sales of $~~434M~~368M IMPROVED ~~PRICING~~WORKING ~~RESULTED~~CAPITAL INDRIVING APOSITIVE ~~SOLID~~FREE ~~QUARTER~~CASH FLOW IN Q4 5

NASDAQ: GSM Total (912)% SILICON METAL Europe (613)% Other (1731)% N. America (93)% 6 Adj. EBITDA Evolution Q/Q ($m) Index pricing trends ($/mt) Volume trends Silicon Metal Shipment Trends Q/Q by Region Outlook: ~~Soft~~Near term demand ~~continues,~~expected EUto ~~impacted~~remain bysoft, ~~imports~~EU ~~from~~and ~~China,~~the US ~~market~~markets ~~impacted~~affected by ~~sluggish demand and~~ increased imports; Chemicals markets stable, auto and construction ~~remains~~awaiting ~~challenging~~recovery; Anticipate improvement in H2 2025

NASDAQ: GSM Total (313)% SILICON BASED ALLOYS Europe (125)% Other (105)% N. America (15)% 7 Adj. EBITDA Evolution Q/Q ($m) Index pricing trends ($/mt) Volume trends Silicon Alloys Shipment Trends Q/Q by Region Outlook: US market ~~improvement~~appears ~~expected~~to ~~due~~be tobottoming, FeSi trade ~~cases;~~case EUshould ~~steel~~improve ~~production~~demand ~~muted~~and pricing as the year progresses; EU FeSi ~~standard~~ prices atslightly ~~near~~up ~~4-year~~from ~~lows~~the ~~due~~beginning toof ~~demand and imports~~2025

NASDAQ: GSM Total ~~(21)~~5% Europe ~~(24)~~11% Other 913)% N. America 11(52)% MANGANESE BASED ALLOYS Outlook: ~~Despite~~Tighter ~~soft~~manganese ~~demand,~~ore ~~expect~~supply ~~spreads~~improving topricing; ~~remain~~current ~~positive;~~manganese ~~Underlying~~alloys ~~steel~~index ~~demand~~prices isat ~~soft~~a 4-month high 8 Adj. EBITDA Evolution Q/Q ($m) Index pricing trends ($/mt) Volume trends Manganese Alloys Shipment Trends Q/Q by Region

NASDAQ: GSM Q3Q4 & FY 2024 Financial Review

NASDAQ: GSM ~~IMPROVED~~RESILIENT ADJ. EBITDA AND MARGINS 10 (in USD million, except EPS) Q3Q4 2024 Q2Q3 2024 Q/Q FY 2024 FY 2023 Y/Y Sales $~~433~~367.5 $~~451~~433.05 $1,644 $1,650 Raw materials & energy for prod. $(~~256~~250.28) $(~~264~~255.31) $(1,027) $(879) Adj. diluted EPS $0.03 $0.11 $0.1328 $0.68 Adj. EBITDA $9.8 $60.4 $~~57.7~~154 $315 Raw materials / sales % 5968% 59% 62% 53% Adj. EBITDA margin % 3% 14% 139% ~~Sales~~19% ~~decreased~~4Q ~~slightly~~sales decreased due to lower ~~volumes,~~pricing ~~partially~~across ~~offset~~all bysegments ~~improved~~and ~~pricing~~lower in silicon ~~metal~~ and ~~manganese~~silicon ~~alloys~~alloy volumes Adj. diluted EPS was $0.1104, down from $0.1311 in Q3 4Q Adj. EBITDA margin ~~improved~~decreased from 1314% to 143% due to ~~stronger~~lower pricing Raw materials and energy consumption ~~remained~~increased ~~stable~~ as a percentage of sales in 4Q

NASDAQ: GSM • Average selling prices across core products ~~increased~~decreased 810.42%: Silicon metal -4.87%, silicon-based alloys -03.25% and Mn-based alloys 15-16.57% • Total volume decreased 126.80%: Silicon metal -912.5%, silicon-based alloys -313.13% and Mn-based alloys ~~-20~~5.80% • Costs increased ~~slightly~~ due to ~~maintenance~~early ~~and~~idling ~~lower~~in ~~production~~France, ~~partially~~higher ~~offset~~Mn byOre ~~lower~~and higher energy costs ~~in France~~ • Head offices & non-core business ~~impact~~increased ~~was~~expenses ~~driven~~in ~~mainly~~non-core bybusiness ~~lower mining production~~ ADJUSTED EBITDA BRIDGE Q3Q4-24 VS. Q2Q3-24 ($m) 11 (¹) (¹) (¹) (¹) Includes Silica Fume and by-products (not shown in product bridges)

NASDAQ: GSM ~~CASH~~• ~~FLOW~~Average ~~SUMMARY~~selling 12prices ~~(in~~across ~~USD~~core ~~millions)~~products Q3decreased ~~2024~~10.6%: Q2Silicon ~~2024~~metal ~~Q/Q EBITDA $52~~-12.92%, ~~$67.0 Non~~silicon-~~cash~~based ~~items~~alloys ~~& Other $(15~~-13.6)8% ~~$(11.7)~~and ~~Energy~~Mn-based ~~compensation~~alloys ~~$11~~5.07% ~~$0.0~~• ~~Changes~~Total involume ~~NWC~~increased ~~$(20~~11.7)2%: ~~$(13.3)~~Silicon ~~Cash~~metal ~~tax~~14.6%, ~~payments~~silicon-based ~~$(6.8)~~alloys ~~$(8~~-4.8)4% ~~Capital~~and ~~Expenditures~~Mn-based ~~$(21.2)~~alloys $(21.9)5% ~~Free~~• ~~cash~~Costs ~~flow~~increased 1primarily ~~$(10.0)~~due ~~$(19.9)~~to ~~Working~~lower ~~capital~~energy ~~increased~~compensation ~~due~~in toFrance ~~inventory~~and ~~build-up~~higher ~~ahead~~Mn ofOre ~~French~~costs ~~operations~~• ~~idling~~Head inoffices ~~fourth~~& ~~quarter~~non-core ~~and~~business ~~reduction~~improved indriven ~~accounts~~by ~~payables~~mining ~~Free~~performance ~~cash~~and ~~flow~~lower ~~improved~~head byoffices ~~$10~~related ~~million~~costs ~~from~~ADJUSTED ~~$(19.9)~~EBITDA ~~million~~BRIDGE ~~CAPEX~~FY ~~decreased~~2024 byVS. $1FY ~~million~~2023 to ($21m) ~~million~~12 (¹) ~~Free~~(¹) ~~cash~~(¹) ~~flow~~(¹) ~~defined~~Includes asSilica ~~cash~~Fume ~~from~~and ~~operations~~by-products ~~less~~(not ~~capital~~shown ~~expenditures~~in product bridges)

NASDAQ: GSM •CASH ~~Net~~FLOW ~~cash~~SUMMARY ~~balance~~13 ~~remained~~(in ~~positive~~USD ofmillions) Q4 2024 Q3 2024 Q/Q FY 2024 FY 2023 Y/Y EBITDA $32(33.6) ~~million,~~$52.9 ~~reduction~~$108.9 ~~from~~$262.9 ~~prior~~Non-cash ~~quarter~~items •& ~~Cash~~Other ~~balance~~$41.7 of$(15.6) $~~121~~13.1 ~~million~~$(140.8) asEnergy ofcompensation ~~Sept~~$21.0 ~~30,~~$11.0 ~~2024~~$176.2 $~~237~~56.0 Changes in NWC $~~239~~23.0 $81(20.7) $816.3 $89158.1 Cash tax payments $(714.8) $(~~101~~6.8) $(15.8) $(113.3) Capital Expenditures $(17.9) $(21.2) $(79.2) $64(86.5) Free cash flow 1 $3214.1 ~~Q3-~~$(10.0) $164.1 $91.9 Released $23 million of working capital during Q4~~-23~~ ~~Q1-24~~driving ~~Q2-24~~positive ~~Q3-24~~free ~~Adj.~~cash ~~Gross~~flow ~~Debt~~of ~~Net~~$14 ~~Cash~~million ~~Adjusted~~Received ~~Gross~~$21 ~~and~~million ~~Net~~French ~~Cash~~energy (rebate during Q4 CAPEX decreased by $m)3 ~~NET~~million ~~CASH~~to ~~AND~~$18 ~~DEBT~~million ~~EVOLUTION~~in 13Q4 ~~Continued~~(¹) ~~with~~Free ~~minimal~~cash ~~leverage~~flow ~~0.4x~~defined ~~Adj.~~as ~~Gross~~cash ~~Debt~~from tooperations ~~LTM~~less ~~Adj.~~capital expenditures Q4 EBITDA impacted by a non-cash impairment charge

NASDAQ: GSM Q3• Net cash balance increased by $7 million to $39 million • Cash balance of $133 million as of Dec 31, 2024 ~~Corporate~~$239 ~~Update~~$81 $81 $89 $94 $(101) $79 $64 $32 $39 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Adj. Gross Debt Net Cash Adjusted Gross and Net Cash ($m) NET CASH AND DEBT EVOLUTION 14 Continued with minimal leverage 0.6x Adj. Gross Debt to LTM Adj. EBITDA

NASDAQ: GSM 15FY ~~KEY~~2024 ~~TAKEAWAYS~~Corporate Enhanced capital allocation policy • Paid quarterly cash dividend of 1.3 cents per share in September; next dividend on December 27 • Executed discretionary share repurchases in Q3 and established a 10b5-1 program Strong third quarter performance • Improved manganese alloy and silicon metal pricing versus second quarter • Adjusted EBITDA grew 5% and margins expanded by 100bps over the prior quarter Focus on operational efficiency and costs • Managing production to current demand • Implemented S&OP process to adapt more swiftly to market changes and gradually optimize our net working capital U.S. Commerce Department announced duties on Russian, Brazilian, Kazakhstan and Malaysian FeSi imports • Favorable trade decisions against Russia, Brazil, Kazakhstan and Malaysia • Projected to positively impact the US FeSi market in 2025 • Actively pursuing additional trade actions to level the playfield in Europe and the U.S. REITERATING ADJUSTED EBITDA GUIDANCE OF $150M TO $170MUpdate

NASDAQ: GSM 16 KEY TAKEAWAYS Well-positioned for long-term growth • Continued progress with Coreshell in developing advanced silicon-rich anodes for EV batteries Implementation of S&OP across all operations expected to yield additional efficiency gains Successful execution in 2024 • Generated $154M of Adj. EBITDA in 2024 • Significantly strengthened balance sheet; net cash positive • Commenced quarterly dividends and share buybacks during the year Demand environment remains soft with signs of the market bottoming • Indexes mostly stable with positive signs, especially in manganese alloys • Anticipate improving demand and price environment in the second half of 2025 Positive strides in leveling the playing field in the US and Europe • US FeSi decision favorable against Russia; Brazil, Kazakhstan and Malaysia yet to be finalized • European Commission initiated a safeguard investigation against imports

NASDAQ: GSM Q&A

NASDAQ: GSM Appendix ─ Supplemental Information

NASDAQ: GSM QUARTERLY SALES AND ADJUSTED EBITDA 1819 Adjusted EBITDA Quarterly Sales $ millions ~~Q4 2022~~ Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2023 Q3 2024 Q4 2024 Silicon Metal ~~184~~ 161 195 198 168 169 204 194 161 Silicon Alloys ~~127~~ 137 133 115 107 113 105 102 85 Mn Alloys 97 62 78 59 60 66 98 90 78 Other Business 40 41 50 45 32 44 44 49 43 Total Revenue ~~448~~ 401 456 417 367 392 451 434 ~~130~~368 45 106 104 60 26 58 60 ~~Q4-22~~10 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24

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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