Elkem

Share Issue/Capital Change • Aug 26, 2022

Elkem ASA - Exercise of share options under share incentive programme

Elkem ASA - Exercise of share options under share incentive programme

Oslo, 26 August 2022

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

"ELK") share incentive programme have today exercised a total of 2,344,981

options, of which 807,670 options have an exercise price of NOK 19.10 per share,

775,345 options have an exercise price of NOK 23.53 per share, 661,966 options

have an exercise price of NOK 31.20 per share, and 100,000 options have an

exercise price of NOK 38.52 per share. The exercised options will be settled by

delivery of Elkem's shareholding of own shares. Following the transfer, the

Company will hold 6,340,019 own shares. This holding includes share buy backs up

to an including 25 August 2022.

For the options that have not been used to purchase and hold shares in the

Company, the primary insiders listed below have transferred their 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 Viga (CFO), exercised 140,844 options, of which 46,948 options had an

exercise price of NOK 19.10 per share, 46,948 options had an exercise price of

NOK 23.53 per share, and 46,948 options had an exercise price of NOK 31.20 per

share, following which he holds 659,156 options and 46,896 shares in the

Company.

· Frédéric Jacquin (SVP Strategy & Business Development), exercised 70,422

options, of which 23,474 options had an exercise price of NOK 23.53 per share,

and 46,948 options had an exercise price of NOK 31.20 per share, following which

he holds 729,578 options and 31,551 shares in the Company.

· Asbjørn Søvik (SVP Green Ventures & Digital), exercised 46,948 options at an

exercise price of NOK 23.53, following which he holds 753,052 options and 10,000

shares in the Company

· Katja Lehland (SVP HR), exercised 140,844 options, of which 46,948 options

had an exercise price of NOK 19.10 per share, 46,948 options had an exercise

price of NOK 23.53 per share, and 46,948 options had an exercise price of NOK

31.20 per share, following which she holds 659,156 options and 0 shares in the

Company.

· Louis Vovelle (SVP Innovation and R&D), exercised 140,844 options, of which

46,948 options had an exercise price of NOK 19.10 per share, 46,948 options had

an exercise price of NOK 23.53 per share, and 46,948 options had an exercise

price of NOK 31.20 per share, following which he holds 659,156 options and 6,896

shares in the Company.

· Håvard Moe (SVP Technology) exercised 200,000 options to purchase and hold

100,000 shares at an exercise price of NOK 19.10 per share, and 100,000 shares

at an exercise price of NOK 38.52 per share, following which he holds 600,000

options and 210,000 shares in the Company.

· Inge Grubben-Strømnes (SVP Silicon Products), exercised 23,474 options at an

exercise price of NOK 23.53 per share, following which he holds 776,526 options

and 35,189 shares in the Company,

· Luiz Simao (SVP Carbon Solutions), exercised 123,285 options, of which

52,863 options had an exercise price of NOK 19.10 per share, 23,474 options had

an exercise price of NOK 23.53 per share, and 46,948 options had an exercise

price of NOK 31.20 per share. Out of these options, Luiz Simao purchases and

holds 20,000 shares at an exercise price of NOK 19.10 per share. Following these

transactions he holds 526,715 options and 20,000 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

Email: odd-geir.lyngstad@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

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