Elkem

Elkem ASA - Initiation of a share buyback

Oslo, 14 August 2023

Elkem ASA ("Elkem" or the "Company") has decided to initiate a buyback of up to

2 million of its own shares. The shares will be used as settlement in the

Company's share-based incentive scheme.

The buybacks will be made in accordance with the authorisation granted to the

board of directors by the Company's annual general meeting held on 28 April

2023. According to the authorisation, shares up to 10% of the share capital may

be purchased at a minimum of NOK 1 and a maximum of NOK 150 per share. The

authorisation is valid until the annual general meeting in 2024.

The buyback will be conducted in a period from 14 August 2023 up to and

including 8 September 2023. The shares shall be purchased on Oslo Børs. Elkem

has engaged a third party to carry out the share buyback on behalf of the

Company. Under this agreement, the third party will manage the programme and

make its own trading decisions independently of Elkem.

The execution of any repurchases will depend on market conditions, the buyback

programme may be discontinued at any time and the Company may resolve to

terminate the buyback programme before the threshold set out above is reached.

Elkem owns 3,601,090 shares in the Company as of today.

This is information that Elkem ASA is obliged to make public pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

Section 5-12 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

7,300 people has a joint commitment to stakeholders: Delivering your potential.

In 2022, Elkem achieved an operating income of NOK 45.9 billion and CDP ratings

of A- on climate and forest. 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