METLEN ENERGY & METALS

("METLEN", OR "THE COMPANY")

TRADING UPDATE Q1 2026: Strong Start to 2026 with Accelerating Strategic Transformation

ATHENS, Greece and LONDON, May 7, 2026 /PRNewswire/ -- METLEN Energy & Metals PLC (LSE Listing: MTLN, RIC: MTLN.L, Bloomberg: MTLN.LN | Athens Listing: MTLN, RIC: MTLNr.AT, Bloomberg: MTLN.GA, ADR: MYTHY US) today announces its Trading Update for Q1 2026. The Company delivered a strong start to the year, reflecting solid momentum across Energy, Metals and Infrastructure, together with continued execution of the strategic investment program, pointing to a speedy return to the medium-term trajectory, announced in the CMD in London, April 2025.

• Revenue +37% YoY to €2.05bn
• Energy Sector simplified into two business lines
• Former MPP activities restructured and integrated into M RESET platform
• Metals Sector reorganised into three focused growth verticals
• c.2GW energy storage pipeline secured through strategic partnerships
• 283MW UK solar portfolio divested under Asset Rotation model
• Participation secured in VOAK concession project in Greece
• New London offices

Evangelos Mytilineos, Executive Chairman stated:

"METLEN has started 2026 with strong operational momentum across all its business sectors. Our continued investments in energy transition, critical raw materials and defence, combined with disciplined execution, position the Company to navigate a complex geopolitical environment while delivering sustainable growth." 

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Outlook

The first quarter of 2026 confirms METLEN's strong positioning across its diversified business model, with all Sectors contributing to growth.

The Company continues to operate in an environment shaped by heightened geopolitical tensions and ongoing conflicts, which impact energy markets, supply chains and defence demand. Nevertheless, these conditions also underscore the strategic importance of METLEN's synergistic business model, further strengthened by its activities in energy security, critical raw materials, and defence solutions.

Looking ahead, management maintains a cautiously optimistic outlook for 2026, supported by a strong project pipeline, increasing demand and prices across core sectors and continued execution of the Company's investment program.

Further details will be provided at the Annual General Meeting scheduled for 21 May 2026, in line with the Company's long-standing practice.

Cautionary statement / Disclaimer

This announcement contains statements that are, or may be deemed to be, "forward-looking statements". These statements are based on current expectations, projections and assumptions and are not guarantees of future performance. Forward-looking statements typically include words such as "aim", "anticipate", "believe", "estimate", "expect", "intend", "may", "plan", "project", "seek", "should", "will" and similar expressions, or their negatives.

By their nature, such statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, changes in economic conditions, market trends, regulatory developments, operational challenges, and other factors beyond the Company's control.

No representation, warranty or assurance is given that any forward-looking statements will be realized. Readers are therefore cautioned not to place undue reliance on such statements, which speak only as of the date they are made. Except as required by applicable law or regulation, (including under the Market Abuse Regulation, the UK Listing Rules and the Disclosure and Transparency Rules of the Financial Conduct Authority), each of the Company, its affiliates, officers, employees or agents undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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About METLEN:

METLEN Energy & Metals Plc (METLEN) is an international industrial and energy Company, holding a leading position in the metals and energy sectors, focused on sustainable growth and the circular economy. METLEN has established itself as a benchmark in competitive "green" metallurgy at both European and global level, operating the only fully integrated bauxite, alumina and primary aluminium production unit in the European Union, with privately owned port facilities. In the Energy Sector, METLEN provides integrated energy solutions through the implementation of thermal and renewable power generation projects, electricity distribution and trading, as well as investments in network infrastructure, battery storage and other green technologies. METLEN operates across five continents and in more than 40 countries, employing over 8,500 people worldwide and implementing a fully synergistic model across its Sectors.

METLEN Financial Highlights

METLEN has its primary listing on the London Stock Exchange and secondary listed on the Athens Stock Exchange and is a constituent of the FTSE 100 Index. In 2025, METLEN reported consolidated revenue of €7.11 billion and EBITDA of €753 million with net profit of €314 million. Adjusted net debt stood at €2.10 billion, with a Net Debt/EBITDA ratio of 3.1x, reflecting strong financial resilience. METLEN is rated by leading international sustainability and ESG agencies, holding the unique Greek position in the Dow Jones Best-in-Class Emerging Market Index, and distinguished across MSCI, Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG, LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.

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