Elkem

Remuneration Information • Sep 19, 2018

Elkem ASA - Grant of share options under share incentive scheme

Elkem ASA - Grant of share options under share incentive scheme

Oslo, 19 September 2018

The board of directors of Elkem ASA ("Elkem" or the "Company", OSE ticker code:

"ELK") has resolved to grant in total 7,850,000 share options to members of the

management and certain other key employees under the Company's share incentive

scheme.

Each option gives the option holder the right to subscribe or purchase one share

in the Company at an exercise price of NOK 38.52, which is equal to the share

price at closing on 13 September 2018. The options will vest over a period of

three years from grant with one-third vesting each year and the first one-third

vesting on 18 September 2019. The options will expire two years after vesting,

i.e. on 18 September 2021, 2022 and 2023, respectively. The Company may honour

options when exercised by delivering either new shares, treasury shares or

settlement in cash, at the discretion of the Company.

Following the grant, the total number of outstanding options are 7,850,000.

The following primary insiders were granted options:

Helge Aasen (CEO), was granted 500,000 options, following which he holds in

total 500,000 options and 86,206 shares in the Company

Morten Viga (CFO), was granted 300,000 options, following which he holds in

total 300,000 options and 46,896 shares in the Company

Frédéric Jacquin (SVP Silicones), was granted 300,000 options, following which

he holds in total 300,000 options and 6,551 shares in the Company

Trond Saeterstad (SVP Silicon Materials), was granted 300,000 options, following

which he holds in total 300,000 options and 0 shares in the Company

Jean Villeneuve (SVP Foundry Products), was granted 300,000 options, following

which he holds in total 300,000 options and 0 shares in the Company

Inge Grubben-Strømnes (SVP Carbon), was granted 300,000 options, following which

he holds in total 300,000 options and 35,189 shares in the Company

Asbjørn Søvik (SVP Business Development), was granted 300,000 options, following

which he holds in total 300,000 options and 0 shares in the Company

Katja Lehland (SVP HR), was granted 300,000 options, following which she holds

in total 300,000 options and 0 shares in the Company

Håvard Moe (SVP Technology), was granted 300,000 options, following which he

holds in total 300,000 options and 17,241 shares in the Company

Louis Vovelle (SVP Innovation and R&D), was granted 300,000 options, following

which he holds in total 300,000 options and 6,896 shares in the Company

Odd-Geir Lyngstad (VP Finance and Investor Relations), was granted 150,000

options, following which he holds in total 150,000 options and 7,000 shares in

the Company

This information is subject to the disclosure requirements pursuant to section 4

-2 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

Founded in 1904, Elkem is one of the world's leading suppliers of silicon-based

advanced materials with operations throughout the value chain from quartz to

specialty silicones, as well as attractive market positions in specialty

ferrosilicon alloys and carbon materials. Headquartered in Oslo, the company's

27 production sites and extensive network of sales offices and agents around the

world ensure proximity to customers and access to attractive end markets.

Elkem's over 6,000 skilled employees and significant R&D activities provide a

solid basis for further technology-driven growth and optimisation.