Elkem

Earnings Release • Dec 14, 2022

Elkem achieves A- ratings from CDP on climate and forests

Elkem achieves A- ratings from CDP on climate and forests

Oslo, 14 December 2022

Elkem, one of the world's leading suppliers of silicon-based advanced materials,

has been awarded double A- scores from CDP for the company's efforts on climate

and forests. The company also achieved a B score on water security.

To earn an A score from CDP, organisations must show environmental leadership.

Companies that score a B have addressed the environmental impacts of their

business and ensure good environmental management.

"These high scores from CDP on both climate, forests and water security serve as

strong confirmations of Elkem's position as one of the world's leading companies

in advanced material solutions shaping a better and more sustainable future. We

recognise that environmental issues are interconnected, and believe that

companies such as ours must go further and faster to manage them together. But

while we take pride in good results, true leaders are always focused on

improvement. We recently detailed our strategy for dual-play growth and green

leadership and will continue to step up our efforts as we position for the

future," says Helge Aasen, CEO of Elkem.

CDP is a not-for-profit charity that runs the global disclosure system for

investors, companies, cities, states and regions to manage their environmental

impacts. It is widely recognised as the global benchmark for corporate

environmental transparency. Elkem has previously been rated by CDP on climate

and water security, while this is the company's first CDP rating on forests.

Dexter Galvin, Global Director of Corporations & Supply Chains at CDP, said: "In

a year of ever-increasing environmental concerns around the world, the need for

transformational, urgent and collaborative change is more critical than ever.

Environmental disclosure is the first vital step towards a net-zero and nature

-positive future, so A List companies should be commended for the level of

transparency in their CDP responses. But we cannot ignore that these companies

are in the minority. Most are still not managing all environmental issues

holistically, and far too many are remaining complacent or failing to respond at

all. Companies must step up to the challenge as CDP continues to lift the bar

for what qualifies as environmental leadership, and since there is no route to

1.5°C without nature, they must speed and scale up their progress in addressing

deforestation and water impacts, dependencies and risks, too."

CDP ratings for Elkem

2020 2021 2022

CDP Climate A A- A-

CDP Water security Not disclosed B- B

CDP Forests Not disclosed Not disclosed A-

About CDP

CDP is a not-for-profit charity that runs the global disclosure system for

investors, companies, cities, states and regions to manage their environmental

impacts. It is widely recognised as the global benchmark for corporate

environmental transparency. Nearly 20,000 organisations around the world

disclosed data through CDP in 2022, including more than 18,700 companies worth

half of global market capitalisation, and over 1,100 cities, states and regions.

CDP scores are widely used to drive investment and procurement decisions towards

a zero carbon, sustainable and resilient economy. CDP is a founding member of

the Science Based Targets initiative, We Mean Business Coalition, The Investor

Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us

@CDP to find out more.

For more information:

Odd-Geir Lyngstad, VP Finance & Investor Relations

Tel: +47 976 72 806

Email: odd-geir.lyngstad@elkem.no

Fredrik Norman, VP Corporate Communications & Public Affairs

Tel: +47 918 66 567

Email: fredrik.norman@elkem.no

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 2022, Elkem

achieved double A- scores from CDP for the company's efforts on climate and

forests. The company in 2021 delivered an operating income of NOK 33.7 billion.

Elkem is listed on the Oslo Stock Exchange (ticker: ELK) where it is also a

member of the OBX® ESG Index, a selection of 40 blue-chip companies listed in

Norway demonstrating best Environmental, Social and Governance (ESG) practices.

www.elkem.com