Elkem

Elkem ASA - Successful placement of Schuldschein

Oslo, 23 December 2022

Elkem ASA ("Elkem" or "the Group") has today successfully placed a series of

floating rate loans in the Schuldschein market. Total size of the transaction

amounts to EUR 200,000,000, and the loans are senior unsecured.

The amount and pricing of the loans are as follows

· EUR 165,000,000, 4 years, floating rate 6-months Euribor + 1.50%

· EUR 35,000,000, 6 years, floating rate 6-months Euribor + 1.75%

Pricing for all loans were at the lower end of the respective price ranges.

The loans were marketed with two different settlement days, where EUR 52 million

will still start this year and EUR 148 million will start early 2023.

The net proceeds from the Schuldschein loans shall be used for general corporate

purposes and to refinance maturing Schuldschein loans of the Group.

Natixis and SEB have acted as Joint Arrangers for the issue

For further information, please contact:

Odd-Geir Lyngstad

VP Finance and Investor Relations

Tel: +47 976 72 806

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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 7,000 people has a

joint commitment to stakeholders: Delivering your potential. In 2022, Elkem

obtained a Platinum score from EcoVadis, which rated the company among the

world's top 1% on sustainability transparency, and the company achieved an

operating income of NOK 33.7 billion. Elkem is listed on the Oslo Stock Exchange

(ticker: ELK). www.elkem.com

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