Elkem

Elkem announces price increase for silicones

Oslo (24 July, 2024) - Elkem announces price increases for its silicones

products worldwide. The increase varies by product line, with a minimum increase

of 10%, effective 15 August, and as contracts permit.

This price increase is necessary to enable Elkem to continue to invest in the

capital needed to support capacity expansion, equipment maintenance and product

development to meet customers' growing needs in a safe and sustainable manner.

While Elkem's silicones division has made great strides in operational cost

reductions and efficiency improvements over the last 18 months, these savings

are not sufficient to offset the negative impact of escalating cost increases

related to raw materials, packaging, energy, transportation & logistics

services, labour and operational maintenance, therefore necessitating the

increase.

For further information, please contact:

Maria Ekornes Myhre

Acting VP Corporate Communications and Public Affairs

Tel: +47 994 12 707

Elkem is one of the world's leading providers of advanced silicon-based

materials shaping a better and more sustainable future. The company develops

silicones, silicon products and carbon solutions by combining natural raw

materials, renewable energy and human ingenuity. Elkem helps its customers

create and improve essential innovations like electric mobility, digital

communications, health and personal care as well as smarter and more sustainable

cities. With a strong track record since 1904, its global team of more than

7,400 people has a joint commitment to stakeholders: Delivering your potential.

In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings

of A on Forests, and A- on Climate Change and Water Security. Elkem is listed on

the Oslo Stock Exchange (ticker: ELK), where the company is also included in the

ESG Index. www.elkem.com

AI Terminal