Globe Specialty Metals Amends Business Combination Agreement With FerroAtlantica

Globe Specialty Metals, Inc.

announced today that it has amended its business combination agreement with Grupo FerroAtlántica ("FerroAtlántica") to, among other things, provide additional governance provisions for the benefit of the Globe shareholders. Globe also announced that, subject to certain conditions, a $32.5 million aggregate cash payment would be made by the combined companies for the benefit of the Globe shareholders after completion of the business combination. The amendments to the business combination agreement and the cash payment to the Globe shareholders are made pursuant to a memorandum of understanding (the "MOU") that outlines the terms of an agreement in principle to settle the pending legal action regarding the business combination. Globe will adjourn to September 22, 2015 its special meeting of shareholders called to approve the business combination in order to provide additional time for shareholders to consider these matters. As previously announced, on February 23, 2015, Globe entered into a business combination agreement with, among others, Grupo Villar Mir, S.A.U. ("Grupo VM") and FerroAtlántica, pursuant to which the parties agreed to combine the businesses of Globe and FerroAtlántica under a new holding company to be renamed Ferroglobe PLC ("Ferroglobe"). The business combination