“In the Dunaferr liquidation process, LIBERTY has proposed a series of steps to ensure the business continuity of Dunaferr and the safety of its employees and to stabilize operations. As a result, the Dunaferr team has now started to stabilize the company’s operations and business situation. This includes restarting blast furnace No. 2, running the coke ovens and ensuring a sustainable supply of raw materials.

Further measures will be needed to ensure the long-term sustainable future of the business. LIBERTY is committed to using its experience to help Dunaferr take these steps. LIBERTY has repeatedly demonstrated its success in stabilising strategically important and complex steel companies which have been underfinanced, significantly improving their operational, commercial and financial situation.

LIBERTY is already taking similar measures, with encouraging results, to ensure the stable operation of the plant and job security for its employees at Dunaferr. LIBERTY’s aim is to ensure that Dunaferr’s skilled and committed workers will be able to work in a safer and more efficient plant than ever before, building on the steel culture that has flourished in Dunaújváros for generations.”

Note to Editors:

LIBERTY Steel Group is part of the GFG Alliance, which employs c.35,000 people, across 30 countries and has revenues of >USD $20bn.

LIBERTY is a leading GREENSTEEL producer with a global integrated steel business bringing together assets across the steel supply chain, from production of liquid steel from raw and recycled materials through to high value precision engineered steels. With turnover of c.USD$16 billion and EBITDA of c.USD$2billion, of which a third was generated in Europe, LIBERTY has total rolling capacity of 20 million tonnes, 200+ manufacturing locations globally across 10 countries and employs more than 30,000 people. It’s furnaces, mills, services centres and distribution sites across the UK, continental Europe, Australia, the United States and China serve demanding sectors such as construction, energy, aerospace, automotive, and infrastructure. LIBERTY Steel is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30).

LIBERTY is the fourth largest steel group in Europe with major integrated steelworks at LIBERTY Ostrava in the Czech Republic, LIBERTY Galaţi in Romania and LIBERTY Częstochowa in Poland. In Europe, LIBERTY employs around 16,000 people, has primary steel capacity of around 7.5 million tonnes a year and rolling capacity of around 10 million tonnes a year. Its steelworks serve customers across the automotive, aerospace, construction, transport, renewable energy and mining industries amongst others.

For more information, please visit www.gfgalliance.com or www.libertysteelgroup.com