Intended delisting of GDRs

EZZ Steel Company - S.A.E.

Cairo, 12 March 2025 - Ezz Steel (EGX: ESRS; London Stock Exchange: AEZD), an Egyptian joint stock company (the "Company"), hereby announces that it intends to cancel the London Stock Exchange ("LSE") listing of its Global Depositary Receipts ("GDRs") on or around 10 April 2025. The Company has also proceeded with the procedures for cancelling the Egyptian Stock Exchange ("EGX") listing of its shares.

Cancellation of Listing

In accordance with UK Listing Rule 21.2.17, the Company hereby gives notice of its intention to cancel the listing of its GDRs on the certificates representing certain securities (depository receipts) category of the Official List of the FCA and the admission to trading of the GDRs on the LSE's Main Market for listed securities. Under UK Listing Rule 21.2.17, the Company is required to give at least twenty business days' notice of the intended cancellation of listing and trading of its GDRs. Accordingly, such cancellation is expected to occur on 10 April 2025.

Background and Reasons for Cancellation

As announced in its Instruction to GDR Holders on 29 January 2025, the Board of Directors has decided to proceed with the cancellation of trading of the GDRs on the LSE, considering it to be in the best interests of the Company and its shareholders. The trading volume of the GDRs on the LSE has been consistently low, offering limited opportunities for investors to trade in meaningful quantities or with regular frequency. Additionally, maintaining the GDR listing imposes significant regulatory and administrative burdens on the Company, alongside substantial associated costs. After careful evaluation, the Board believes that delisting is a more cost-effective and beneficial course of action for shareholders.

Following the delisting, as referred to in the announcement of 29 January 2025, any GDRs not cancelled will remain outstanding but will no longer be listed on any stock exchange.

Questions and requests for assistance can be directed to:

Ahmed Nabil, Investor Relations

[email protected]+201001777703

Investors Relations