Ferro-Alloy Resources Group

Ferro-Alloy Resources Limited (“FAR” or the “Company”) is a Guernsey registered company, formed in 2000, which is the 100% owner of Firma Balausa LLP, the holder of the rights to develop and exploit the giant Balasausqandiq vanadium deposit in Southern Kazakhstan (Kyzylordinskaya Oblast). FAR listed the London Stock Exchangein 2019 and on the Astana International Stock Exchange in 2020. FAR has around 200 shareholders who include well-known institutions, management and individuals or family structures from the UK, Kazakhstan and several other countries. The Company is currently producing vanadium pentoxide, ferro-molybdenum and nickel concentrates, recovered from purchased concentrates and other vanadium-containing materials. The current output capacity is dependent on the type of feed. The Company is part of the way through an expansion to increase output in stages to up to 1,500 tonnes of vanadium pentoxide per year.