Elkem

Elkem focuses on core business, exits Vianode

Oslo, 11 March 2024

Elkem has decided to exit its financial investment in the advanced battery

materials company Vianode.

This is in line with the previously announced comprehensive programme for

earnings improvements and capex reductions in Elkem, and a focus on Elkem's core

business.

Going forward, Vianode will continue to be backed by global aluminium and

renewable energy company Hydro and Altor Fund V, a fund managed by Altor Fund

Manager.

Through the highly skilled employees who have joined Vianode from Elkem since

its founding in 2021, Vianode will continue to benefit from world-class

competence in advanced battery materials.

The parties have agreed that the terms of this transaction shall not be

disclosed.

This release contains inside information related to Elkem ASA pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 the Norwegian Securities Trading Act. This release is issued by

Odd-Geir Lyngstad, VP Finance and Investor Relations, Elkem ASA. Date and time

of publication: 12:35 CET, 11.03.2024.

For further information, please contact:

Odd-Geir Lyngstad

VP Finance and Investor Relations

Tel: +47 976 72 806

Maria Ekornes Myhre

Communication Manager

Tel: +47 994 12 707

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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