Elkem

Director's Dealing • May 7, 2021

Elkem ASA – PDMR notification in connection with Private Placement

Oslo, 7 May 2021

Reference is made to the stock exchange announcements on 26 April 2021 the regarding successful completion of the private placement by issuing 56,456,034 new shares (the "New Shares") in Elkem ASA (the "Company") (the "Private Placement") and the share lending arrangement entered into by ABG Sundal Collier ASA, Bluestar Elkem International Co. Ltd. S.A and the Company.

ABG Sundal Collier ASA has today re-delivered all 56,456,034 loaned shares to Bluestar Elkem International Co. Ltd. S.A. Bluestar Elkem International Co. Ltd. S.A is a close associate of the chairman of the board of directors in the Company.

Please see the attached form for further information.

For further information, please contact: Odd-Geir Lyngstad, VP Finance & Investor Relations Tel: +47 976 72 806 Email: odd-geir.lyngstad@elkem.no

Fredrik Norman, VP Corporate Communication and Public Affairs Tel: +47 918 66 567 Email: fredrik.norman@elkem.no

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 6,800 people has a joint commitment to stakeholders: Delivering your potential. In 2020, Elkem was rated among the world's top 5% on climate and achieved an operating income of NOK 24.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com