Elkem

Remuneration Information • Oct 28, 2021

Elkem ASA - Exercise of share options under share incentive programme

Elkem ASA - Exercise of share options under share incentive programme

Oslo, 28 October 2021

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

"ELK") share incentive programme have today exercised a total 1,066,924 options,

of which 619,416 options have an exercise price of NOK 23.53 per share and

447,508 options have an exercise price of NOK 19.10 per share. The exercised

options will be settled by delivery of Elkem's shareholding of own shares.

Following the transfer, the Company will hold 6,403,772 own shares.

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 96,908 options, of which 31,272 options had an

exercise price of NOK 23.53 per share and 65,636 options had an exercise price

of NOK 19.10 per share, following which he holds 800,000 options and 46,896

shares in the Company

· Frédéric Jacquin (SVP Silicones), exercised 50,000 options, of which 25,000

options had an exercise price of NOK 23.53 per share and 25,000 options had an

exercise price of NOK 19.10 per share, following which he holds 850,000 options

and 6,551 shares in the Company

· Inge Grubben-Strømnes (SVP Silicon Products), exercised 100,000 options at

an exercise price of NOK 23.53 per share, following which he holds 900,000

options and 35,189 shares in the Company

· Luiz Simao (SVP Carbon Solutions), exercised 30,000 options at an exercise

price of NOK 19.10 per share, following which he holds 650,000 options and

10,000 shares in the Company

· Håvard Moe (SVP Technology) exercised 100,000 options, of which 50,000

options had an exercise price of NOK 23.53 per share and 50,000 options had an

exercise price of NOK 19.10 per share. Out of these options Håvard Moe has

purchased 50,000 shares at an exercise price of NOK 23.53 per share. Following

these transactions, he holds 900,000 options and 60,000 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.com

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 6,800 people has a

joint commitment to stakeholders: Delivering your potential. In 2020, Elkem was

rated among the world's top 5% on climate and achieved an operating income of

NOK 24.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK).

www.elkem.com