Elkem — Board/Management Information 2020

May 26, 2020

Elkem changes corporate structure and top management to accelerate specialisation, gain synergies and further improve operational excellence

Elkem changes corporate structure and top management to accelerate specialisation, gain synergies and further improve operational excellence

Oslo, 26 May 2020

Elkem has appointed Inge Grubben-Strømnes as SVP for Silicon Products, a new

division set up to sharpen the commercial focus and further improve operational

excellence across the company's activities within silicon materials and foundry

products, thereby increasing economies of scale. Luiz Simao is replacing Grubben

-Strømnes as SVP for the Carbon Solutions division.

Going forward, Elkem will have three business divisions: Silicones, a fully

integrated silicones producer; Silicon Products, a provider of silicon,

ferrosilicon and related specialty products; and Carbon Solutions, a supplier of

electrode paste and speciality products to the ferroalloys, silicon and

aluminium industries.

The changes are effective from 1 July 2020 and will be reflected in the segments

for Elkem's financial reporting from the third quarter 2020.

"Elkem has changed significantly over the past years, especially through the

integration of the silicones business. Now, we are the world's leading fully

integrated supplier of silicon-based advanced materials, from quartz to

specialty silicones. Today we change the corporate structure to accelerate

specialisation and further improve operational excellence, in line with our

strategy for continued profitable growth. With these changes, we continue to

safeguard Elkem's business in a challenging market environment, at the same time

as we develop competitive positions for the future," says Elkem CEO Michael

Koenig.

"I am pleased that Inge Grubben-Strømnes has accepted the opportunity to lead

Silicon Products and look forward to having Luiz Simao as a new member of the

corporate management team," says Koenig.

The new Silicon Products division will improve and sharpen the commercial focus

by gathering its marketing and sales resources into dedicated teams for the

commodity and speciality portfolios. The new division will also establish a

joint operations organisation in order to ensure operational efficiency and

leverage on synergies across all plants worldwide.

The Carbon Solutions division will work to maintain and develop its position as

the global market leader in its industry, broaden the product portfolio and

expand it across all plants offering a full range of solutions in terms of

carbon materials.

"On behalf of Elkem, I want to thank Trond Sæterstad and Jean Villeneuve for

their highly valued contributions as members of the corporate management over

many years," says Koenig.

Inge Grubben-Strømnes has 15 years of Elkem experience. He is currently SVP for

the Carbon division, a role he has held since 2018. Before that, he was the SVP

of Business development. He was CEO of Elkem Solar from 2012 to 2016. Prior to

Elkem, Grubben-Strømnes worked with McKinsey & Company for 4 years. He holds an

MSc in Zoology and a Bachelor in Biology from the Norwegian University of

Science and Technology and an MBA from EM-Lyon. Grubben-Strømnes is a Norwegian

national.

Luiz Simao has 15 years of Elkem experience. He is currently the plant manager

for Elkem Carbon Brazil, a role he has held since 2017. Before that, he has held

a number of other leadership roles, including as Finance Director for the Carbon

division. Prior to Elkem, Simao worked with Alcoa for 10 years. He holds an MSc

in Industrial Engineering from Universidade Federal de São Carlos, an MBA from

Ibmec and a BSc in Chemistry from Universidade de São Paulo. Simao is a

Brazilian national.

For further information:

Odd-Geir Lyngstad, VP Finance & Investor Relations

Tel: +47 976 72 806

Email: odd-geir.lyngstad@elkem.no

Fredrik Norman, VP Corporate Communications & Public Affairs

Tel: +47 918 66 567

Email: fredrik.norman@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. Elkem is a publicly listed company on

the Oslo Stock Exchange (ticker code: ELK) and is headquartered in Oslo. The

company has more than 6,700 employees with 31 production sites and an extensive

network of sales offices worldwide. In 2019 Elkem had revenues of NOK 22.7

billion. To learn more, please visit www.elkem.com