METLEN & HRE Seal Landmark Solar Deal, South Korea

PRESS RELEASE

METLEN and HRE

Seal Landmark Solar Deal in South Korea

· HRE acquires a 42 MW METLEN portfolio of solar projects in South Korea

· Landmark deal highlights METLEN's Global Asset Rotation Plan and expansion in East Asia

· Partnership paves the way for future large-scale solar, BESS, and green-powered data center projects in South Korea

Athens, Greece / London, United Kingdom - October 23 2025 - METLEN (RIC: MTLN.L, Bloomberg: MTLN.LN, MTLN.GA, ADR: MYTHY US) and Korean energy investment and development company HRE Co. Ltd. ("HRE"), announce the signing of a landmark agreement under which HRE will acquire a diversified portfolio of solar projects in South Korea with a total installed capacity of 42 MW, the phase 1 of the renewable energy portfolio built by METLEN.

The transaction includes five operational and under-development solar projects, which combined will generate more than 60 GWh of clean electricity annually - enough to power over 12,000 Korean households. The operational projects have secured long-term PPA contracts with leading Korean conglomerates, reinforcing their strategic and commercial value.

This agreement marks another milestone in METLEN's Global Asset Rotation Plan, underlining the Company's ability to execute highly complex transactions. The transaction also contributes to the further strengthening of overall liquidity, supporting its strategic flexibility as it continues to scale its international operations.

Beyond this transaction, METLEN and HRE are exploring a broader strategic partnership for METLEN's South Korean project pipeline, which includes large-scale solar, BESS, and green-powered data centers.

Sunwoong Kim, the Representative Executive Officer of HRE Co. Ltd. commented on the agreement: "We are proud to partner with METLEN on this landmark transaction, which reflects our shared commitment to accelerating South Korea's clean energy transition. The acquisition of this 42 MW portfolio strengthens HRE's position as a leading renewable-energy developer and marks the beginning of a long-term collaboration with METLEN. Together, we aim to expand into large-scale solar and battery storage projects that will shape the region's sustainable energy future."

South Korea remains a strategic focus for METLEN's M Renewables segment, one of the few European companies to have successfully established a strong presence in the East Asian renewables sector. Since entering the Korean market in 2022 with the construction of its first solar PV project in Yangpyung-gun, METLEN has expanded its footprint through a pipeline of large-scale solar PVs.

Nikos Papapetrou, Executive Director of METLEN's M Renewables segment, stated: "This agreement with HRE underscores METLEN's long-term commitment to the South Korean market and the strength of our renewables platform in East Asia. It reflects the trust we have built through the successful development of high-quality solar projects and marks another step in expanding our presence in one of the most dynamic energy markets in the region."

The Company also sees data centers powered by renewables as a critical part of its growth strategy in South Korea, leveraging the country's strong digital infrastructure ambitions.

Notes to editors:

Official photo material of METLEN and its activities can be found here.

For further information please contact:

Ms. Antigoni Fakou: METLEN Press Office, Tel. +30210-6877346 | Fax +30210-6877400 | E-mail: [email protected]

About METLEN:

METLEN Energy & Metals PLC (METLEN or the Company) is the parent company of a multinational industrial and energy group and a leader in metallurgy and energy industries, focusing on sustainability and circular economy. The Company is primary listed on the London Stock Exchange with a secondary listing on the Athens Exchange, having a consolidated turnover and EBITDA of €5.68 billion and €1.08 billion, respectively, (2024). METLEN's group is a reference point for competitive green metallurgy at the European and global level, whilst operating only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN's group offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company's group is active in the markets of all five continents, in more than 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects.

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About HRE Co., Ltd. (South Korea):

HRE Co. Ltd. is one of South Korea's leading energy investment and development companies, driving South Korea's renewable-energy transition. Founded with investment from Brookfield Renewable Partners, the renewable arm of global asset manager Brookfield, HRE has rapidly expanded its presence in domestic and international markets. With a strong focus on solar and next-generation clean-energy technologies, HRE combines deep project experience with innovation to deliver high-quality, bankable renewable assets. Committed to sustainability and long-term value creation, HRE continues to play a pivotal role in advancing South Korea's clean-energy future and the global net-zero agenda.

https://www.linkedin.com/company/hre-korea/?originalSubdomain=kr 

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