Elkem

Environmental & Social Information • Jul 1, 2025

Elkem signs long-term power purchase agreement with NTE in Norway

Elkem signs long-term power purchase agreement with NTE in Norway

Oslo, Norway - 1 July 2025 - Elkem and NTE have entered into a long-term power

purchase agreement (PPA) for the period 2028 to end of 2037, with delivery in

the NO4 price area in Norway.

The PPA will be part of Elkem's total long-term contract portfolio, hedging

Elkem's annual power consumption of 3.5 TWh in Norway. The contract volume is

300 GWh/year. Renewable power is key to producing silicon and silicon-based

products with low CO2 emissions and is a central component of Elkem's climate

roadmap to reach net-zero emissions by 2050. The carbon footprint of Elkem's

Norway-produced silicon stands at about one third of the global average.

The new contract with NTE supports long-term operations at Elkem's plant in

Salten, located in Northern Norway. The plant, which has close to 200 employees,

is one of the world's largest and most modern silicon plants. They are exporting

silicon and Microsilica® products worldwide for sectors such as renewable

energy, electronics, infrastructure and defence.

"With access to renewable hydropower and competitive, long-term power

agreements, Norwegian industry has the best premise for producing world-leading

silicon products with a low carbon footprint that are critical raw materials for

European strategic value chains," says Elkem's CFO Morten Viga.

"We see this collaboration as a strong and forward-looking agreement that

supports our ambition to contribute to a more sustainable and competitive

industry in Norway. NTE aims to strengthen regional industry and local

communities through the delivery of renewable energy in the form of tailored

agreements for companies with high energy consumption. These agreements provide

customers with predictability in both volume and price and help reduce the risks

associated with frequent price fluctuations in energy markets," says Inge

Forseth, CEO of NTE Energy at NTE.

For further information, please contact:

Marianne Stigset, VP Corporate Communications & Public Affairs, Elkem ASA

Email: marianne.stigset@elkem.com

Mobile: +47 411 88 482

Inge Forseth, Director, NTE Energi AS

Inge.forseth@nte.no

Mobile: +47 971 95 697

About Elkem

Elkem is one of the world's leading providers of advanced silicon-based

materials 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

7,200 people has a joint commitment to stakeholders: Delivering your potential.

In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem has been

awarded top score of A on Forests and Water Security, and B on Climate Change

from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the

company is also included in the ESG Index. www.elkem.com

About NTE

NTE is a leading energy company focused on the production and distribution of

renewable energy. The company has a significant presence in Trøndelag and

Northern Norway, where they produce approximately 4.8 TWh of renewable energy

annually. NTE is also involved in the development and management of energy

infrastructure, as well as offering products and services that promote the

transition from fossil fuels to renewable energy use. https://nte.no