Elkem

Elkem ASA - Scope affirms Elkem's investment grade rating

Oslo, 21 December 2022

Scope has affirmed its issuer rating of BBB/Stable on Elkem ASA.

The affirmation reflects Elkem's continued strong cost position and robust

financial risk profile. Furthermore, it reflects Elkem's position as one of the

leading companies in the global silicone and advanced materials markets with a

solid global footprint.

Scope also affirms the S-2 short-term rating and the BBB senior unsecured debt

rating.

The rating report from Scope is attached.

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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