RHI Magnesita N.V.

("RHI Magnesita" or the "Company")

RESPONSE TO ANNOUNCEMENT OF EXTENSION OF ACCEPTANCE PERIOD

RHI Magnesita notes the announcement by Ignite Luxembourg Holdings S.à r.l. (a wholly-owned subsidiary of a number of limited partnerships which are indirectly managed by Rhône Holdings VI L.L.C., "Ignite"), on 10 July 2023, of the extension of the acceptance period in respect of its voluntary partial cash offer for 14,086,156 ordinary shares in the Company (representing 29.9% of the issued and outstanding ordinary share capital of the Company) (the "Offer"). The acceptance period has been extended from its original expiry date of 10 July 2023 until 1:00 p.m. London time on 21 July 2023.

RHI Magnesita further notes that the other terms and conditions of the Offer (as set out in the Offer document published by Ignite on 19 June 2023) remain unchanged. The Board's view on the Offer, as set out in the Response Statement dated 27 June 2023, remains unchanged.

Head of Investor Relations

Chris Bucknall

+43 699 1870 6490

chris.bucknall@rhimagnesita.com

Financial Communications

Hudson Sandler

Mark Garraway +44 (0) 7771 860 938

Emily Dillon +44 (0) 7842 269 886

rhimagnesita@hudsonsandler.com

Lead Financial Adviser and Corporate Broker

Barclays Bank PLC, acting through its Investment Bank

Omar Faruqui

Arthur Schuetz

Rob Mayhew

Neal West

Joint Financial Adviser and Corporate Broker

Peel Hunt LLP

Mike Bell

Tom Ballard

Ben Harrington

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 13,500 employees in 33 main production sites and more than 70 sales offices. RHI Magnesita intends to leverage its leadership in terms of revenue, scale, product portfolio and diversified geographic presence to target strategically those countries and regions benefitting from more dynamic economic growth prospects.

The Group maintains a premium listing on the Official list of the London Stock Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a secondary listing on the prime segment of the Vienna Stock Exchange (Wiener Börse). For more information please visit: www.rhimagnesita.com

Important information

Barclays Bank PLC, acting through its Investment Bank ("Barclays"), which is authorised by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the Financial Conduct Authority and the PRA, is acting exclusively for RHI Magnesita and no one else in connection with the Offer and will not be responsible to any person other than RHI Magnesita for providing the protections afforded to the clients of Barclays nor for providing advice in relation to the Offer or any other matters referred to in this document.

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively as joint financial adviser and corporate broker to RHI Magnesita and for no one else in connection with the matters referred to in this Announcement and will not be responsible to any person other than RHI Magnesita for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this Announcement, or otherwise.