Elkem

Elkem ASA - Exercise of share options under share incentive programme

Oslo, 28 April 2021

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

"ELK") share incentive programme have today exercised a total 337,500 options at

an exercise price of NOK 23.53 per share. The exercised options will be settled

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

Company will hold 662,500 own shares.

The below primary insiders have exercised options under the Company's share

incentive programme.

· Håvard Moe (SVP Technology), exercised 50,000 options and thereby purchased

50,000 shares in Elkem at the exercise price of NOK 23.53 per share, following

which he holds 67,241 shares and 850,000 options in the Company.

· Asbjørn Søvik (SVP Strategy), exercised 100,000 options and transferred his

rights to receive the option 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. Following the transaction Asbjørn

Søvik holds 800,000 options and 10,000 shares in the Company. The results of the

sales process will be announced in a separate stock exchange notice.

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

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).

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