GlobeNewswire Inc | Mar 25, 2021 05:15PM EDT

March 25, 2021

MIAMI, March 25, 2021 (GLOBE NEWSWIRE) -- Globe Specialty Metals, Inc. (GSM), a subsidiary of Ferroglobe PLC (NASDAQ: GSM), and Mississippi Silicon LLC (MS), together representing the majority of American silicon metal production, welcomed news on March 24th that the U.S. International Trade Commissions ("ITC") final 5-0 vote reaffirming that unfairly traded silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan are materially injuring the U.S. industry.

The decision clears the way for the U.S. Department of Commerce to issue final orders imposing antidumping and countervailing duties on imports from these countries for at least five years.

Marco Levi, Chief Executive Officer of GSM's parent, Ferroglobe commented, "Certain foreign producers have been dumping unfairly traded goods, harming U.S. businesses and workers for far too long. Marco Levi added, "We thank the ITC for its work on this case and its commitment to fair competition. Today's decision will bring a much-needed and long-overdue level playing field to the silicon metal market at a critical time."

OnJune 30, 2020, GSM and MS filed petitions to stop silicon metal producers inBosnia and Herzegovina,Iceland,MalaysiaandKazakhstanfrom selling dumped and unfairly subsidized silicon metal imports intothe United States, setting four cases in motion.

Today's vote finalizes three of the four cases. A final determination in Commerces Malaysia investigation will be announced in early June 2021, after which the ITC will issue a separate determination in that case. OnJanuary 27, 2021,Commerce announcedpreliminary duties of 7.41% on all imports of silicon metal fromMalaysia.

"U.S. manufacturers of all sizes can be harmed by imports that engage in unfair pricing practices or receive improper subsidies, as the ITC has found," saidEddie Boardwine, Chief Operations Officer of MS. "Today's decision is a shot in the arm not only for our company but for our employees, their families, and their communities."

About Globe Specialty Metals

Globe Specialty Metals, Inc.is a wholly-ownedU.S.subsidiary ofFerroglobe PLC, one of the worlds leading suppliers 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, automotive, consumer products, construction and energy. Through its subsidiaries, GSM owns metallurgical manufacturing facilities and other operations in Ohio,West Virginia, New York, Alabama, Indiana, Florida andKentucky.

INVESTOR CONTACT:Gaurav MehtaExecutive Vice President - Investor Relationsinvestor.relations@ferroglobe.com

MEDIA CONTACT:Cristina Feliu RoigExecutive Director Communications & Public Affairscorporate.comms@ferroglobe.com