Schedule I

12 Months Ended

Dec. 31, 2025

Appendix I

Schedule I has been provided pursuant to the requirements of Rule 12-04(a) of Regulation S-X, of the US Securities and Exchange Commission (SEC) which require condensed financial information as to the financial position, cash flows and results of operations of Ferroglobe PLC, as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with International Financial Reporting Standards have been condensed or omitted. The footnote disclosures contain supplementary information only and, as such, these statements should be read in conjunction with the notes to the accompanying consolidated financial statements.

Basis of Presentation

The presentation of Ferroglobe PLC separate condensed financial statements have been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that, in the separate condensed financial statements the investments in subsidiaries are being recorded at historic cost.

SCHEDULE I - FERROGLOBE PLC (Parent company)

CONDENSED STATEMENT OF FINANCIAL POSITION AS OF DECEMBER 31, 2025 AND 2024

(in USD Thousands)


		2025		2024
ASSETS
Non-current assets
Investment in subsidiaries		651,711		649,936
Property, plant and equipment		206		338
Loans to group companies		—		3,250
Total non-current assets		651,917		653,524

Current assets
Loans to group companies		3,250		—
Trade and other receivables		129		347
Trade and other receivables from subsidiaries		20,043		26,619
Other current assets		286		368
Cash and cash equivalents		498		614
Total current assets		24,206		27,948
Total assets		676,123		681,472
EQUITY AND LIABILITIES
Equity
Share capital		1,964		1,964
Share premium		75,073		75,073
Other reserves		(227,309)		(224,394)
Retained earnings		679,814		711,258
Total equity		529,542		563,901

Non-current liabilities
Lease liabilities		145		286
Loans from group companies		13,803		61,447
Total non-current liabilities		13,948		61,733
Current liabilities
Debt instruments		26,014		10,135
Lease liabilities		149		137
Trade and other payables		1,927		3,196
Loans from group companies		59,626		10,303
Trade and other payables to subsidiaries		44,791		31,967
Other current liabilities		126		100
Total current liabilities		132,633		55,838
Total equity and liabilities		676,123		681,472

The accompanying notes are an integral part of these Condensed Financial Statements.

SCHEDULE I - FERROGLOBE PLC (Parent company)

CONDENSED INCOME STATEMENT FOR THE PERIODS ENDING DECEMBER 31, 2025, 2024 and 2023

(in USD Thousands)


	2025	2024	2023

Other operating income	15,919	20,905	28,799
Other operating expense	(27,872)	(34,512)	(36,221)
Depreciation and amortization	(130)	(126)	(123)
Finance income	253	889	31,982
Finance costs	(7,002)	(6,477)	(19,638)
Exchange differences	(2,161)	447	86
Impairment (loss) gain	—	—	429
(Loss) profit before tax	(20,993)	(18,874)	5,314
Income tax benefit (expense)	—	367	115
Total (loss) profit for the year	(20,993)	(18,507)	5,429

The accompanying notes are an integral part of these Condensed Financial Statements.

SCHEDULE I - FERROGLOBE PLC (Parent company)

CONDENSED STATEMENT OF CASH FLOWS FOR THE PERIODS ENDING DECEMBER 31 2025, 2024 and 2023

(In USD thousands)


		2025		2024		2023

Cash flows from operating activities:
(Loss) profit for the year		(20,993)		(18,507)		5,429
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Income tax (benefit) expense		—		(367)		(115)
Depreciation and amortization		130		126		123
Finance income		(253)		(889)		(31,982)
Finance costs		7,002		6,477		19,638
Exchange differences		2,161		(447)		(86)
Impairment (gain) loss		—		—		(429)
Changes in operating assets and liabilities:
Decrease (Increase) in trade and other receivables		6,694		12,536		53,052
(Decrease) increase in trade and other payables		6,687		(14,191)		(13,680)
Other changes in operating assets and liabilities		(1,234)		(215)		(8,276)
Income tax received		—		367		—
Net used cash (used) provided by operating activities		194		(15,110)		23,674
Cash flows from investing activities:
Payments due to investments:
Loans to group companies		—		—		(3,250)
Proceeds from loans to group companies		—		51,709		120,510
Net cash provided (used) by investing activities		—		51,709		117,260
Cash flows from financing activities:
Dividend paid		(10,451)		(9,758)		—
Repayment of debt instruments		(205)		—		—
Proceeds from debt instruments		50,244		10,255		—
Payments for debt issuance cost		(35,760)		(6)		—
Payments for lease liabilities		(158)		(153)		(149)
Proceeds from loans from group companies		18,171		40,947		6,770
Repayments of loans from group companies		(16,492)		(75,089)		(147,882)
Payments to acquire own shares		(4,691)		(2,428)		—
Interest paid		(1,173)		—		—
Net cash used in financing activities		(515)		(36,232)		(141,261)
Total net cash flows for the year		(321)		367		(327)
Beginning balance of cash and cash equivalents		614		227		605
Foreign exchange gain (losses) on cash and cash equivalents		205		20		(51)
Ending balance of cash and cash equivalents		498		614		227

The accompanying notes are an integral part of these Condensed Financial Statements.

SCHEDULE I - FERROGLOBE PLC (Parent company only)

Notes to Condensed Financial Statements

1. Basis for presentation

The Parent Company prepared these unconsolidated financial statements in accordance with International Accounting Standards 27, “Separate Financial Statements”, as issued by the International Accounting Standards Board, except that detailed note disclosures have been omitted with the exception of disclosures regarding material contingencies, long-term obligations and guarantees as permitted by Rule 12-04(a) of Regulation S-X.

2. Commitments, long term obligations and contingencies

Commitments and long term obligations

As of December 31, 2025, Ferroglobe PLC only has long-term obligations related to intercompany loans. These main long- term obligations are the following:

-$3.5 million to Ferroglobe USA Metallurgical, Inc related to a Promissory Note signed on October 1, 2020, extended in April 2024 and due on September 15, 2028.

-$10.3 million to Ferroglobe Holding Company, LTD related to a facility agreement signed on July 27, 2021, extended in October 2025 and due on October 31, 2030.

As of December 31, 2024, the main long- term obligations were the following:

-$57.9 million to Ferroglobe Holding Company, LTD related to a revolving credit facility signed on July 27, 2021 and due on November 31, 2026.

-$3.5 million to Ferroglobe USA Metallurgical, Inc related to a Promissory Note signed on October 1, 2020, extended in April 2024 and due on September 15, 2028.

Contingencies and guarantees

As of December 31, 2025 and 2024, Ferroglobe PLC is guarantor of $7 million in connection with the New Markets Tax Credit Program in relation to our Selma, Alabama, plant and due in the event any tax credits under the Program are disallowed or recaptured.

As of December 31, 2024, Ferroglobe PLC was also guarantor of €34.5 million ($38.3 million) in indebtedness issued by Ferroglobe Spain Metals and Ferroglobe Corporate Services under the agreement with the Sociedad Estatal de Participaciones Industriales (“SEPI”), a Spanish state-owned industrial holding company affiliated with the Ministry of Finance and Administration, which was fully repaid in 2025.

As of December 31, 2025, 2024 and 2023, Ferroglobe PLC has no material contingencies.

3.Dividends from subsidiaries

For the years ending December 31, 2025, 2024 and 2023 Ferroglobe PLC did not receive cash dividends from its subsidiaries.