Elkem

Elkem ASA closes final terms on first sustainability-linked loan agreement

Oslo, 15 December 2022

Reference is made to the stock exchange announcement on 27 June 2022 regarding

the signing of a new credit facilities agreement of EUR 1,000,000,000 (the

"Facilities Agreement").

Elkem ASA ("Elkem" or the "Company") is pleased to announce that it has

successfully closed the final terms in the Facilities Agreement to include

sustainability performance targets and key performance indicators. The

sustainability targets are based on Elkem's strategy and social commitment with

performance targets linked to health and safety and reduction of the group's

product carbon footprint as outlined in Company's climate roadmap. The

performance targets will provide for adjustments up or down to the margin.

"We are very pleased to conclude our first sustainability linked loan agreement.

Elkem has a unique position as one of the world's leading companies in advanced

material solutions, and our mission is shaping a better and more sustainable

future. The standards we want to work by must reflect this, both in operational

activities and in financing. With our new strategy for dual-growth and green

leadership in place, it was natural for Elkem to link the margins on the

facilities to key sustainability goals," says Morten Viga, CFO of Elkem.

DNB Markets and ABN AMRO Bank N.V. acted as co-ordinators in connection with the

syndication of the Facilities Agreement. DNB Bank ASA have acted as the facility

agent, and ABN AMRO Bank N.V. have acted as the sustainability co-ordinator in

connection with the Facilities Agreement.

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 material solutions

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 7,000 people has a

joint commitment to stakeholders: Delivering your potential. In 2021, Elkem

obtained a Platinum score from EcoVadis, which rated the company among the

world's top 1% on sustainability transparency, and the company achieved an

operating income of NOK 33.7 billion. Elkem is listed on the Oslo Stock Exchange

(ticker: ELK). www.elkem.com

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