Elkem

Strike in Norway called off - affected plants resuming production

Oslo, 24 August 2022

The process industry strike in Norway has now been called off and Elkem's plants

at Salten, Rana, Thamshavn and Fiskaa will resume normal production. All plants

are expected to be back at normal capacity within a few days. The total

financial impact on Elkem from the strike is expected to be limited.

"We are very pleased that the parties have come to an agreement, and we look

forward to getting all our employees back to work. Elkem has delivered record

results in the first half of the year and the outlook is also good for the third

quarter. The market sentiment is impacted by uncertainty, but Elkem continues to

see good demand. Our focus now, as always, is to provide our customers with

advanced material solutions shaping a better and more sustainable future," says

Elkem's CEO, Helge Aasen.

The process industry strike in Norway was a result of the parties not being able

to come to an agreement in the collective national negotiations between the

Federation of Norwegian Industries and the trade union Industri Energi. The

strike was started on 15 August.

Elkem's plants at Bremanger and Bjølvefossen and the company's other activities

in Norway were not included in the strike.

For further information, please contact:

Odd-Geir Lyngstad

VP Finance & Investor Relations

Tel: +47 976 72 806

Fredrik Norman

VP Corporate Communications & Public Affairs

Tel: +47 918 66 567

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

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