Elkem

Elkem ASA - Exercise of share options under share incentive programme

Oslo, 15 July 2024

Option holders under Elkem ASA's ("Elkem" or the "Company", OSE ticker code:

"ELK") share incentive programme have today exercised a total of 179,190

options, at an exercise price of NOK 19.10 per share. The exercised options will

be settled by delivery of Elkem's shareholding of own shares. Following the

transfer, the Company will hold 5,271,900 own shares.

The primary insider listed below has transferred his rights to receive the new

shares to a third party in return for a net sales proceed which will be finally

determined on the basis of the market price subsequently obtained by the third

party.

The results of the sales process will be announced in a separate stock exchange

notice.

· Morten Magnus Voll (SVP Strategy and Business Development), exercised 25,000

options at an exercise price of NOK 19.10 per share, following which he holds

175,000 options and 10,384 shares in the Company.

All the exercised options have been granted in accordance with the Company's

share option programme described in the Company's latest annual financial

statement.

Further details of the primary insider transactions pursuant to the market abuse

regulation article 19 are attached.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Odd-Geir Lyngstad

VP Finance and Investor Relations

Tel: +47 976 72 806

About Elkem

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

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