Elkem

Elkem, Hydro and Altor complete transaction to further develop Vianode as a leading supplier of sustainable battery materials

Oslo, 14 September 2022

Vianode recently announced a transaction where Hydro and Altor Equity Partners

each will acquire 30% ownership in Vianode, while Elkem will retain the

remaining 40% ownership. The transaction is now approved by competition

authorities, providing Vianode with significant backing to accelerate the

industrialisation of advanced battery materials with a green footprint in

Europe.

The closing of the transaction represents an important milestone to accelerate

the growth of Vianode as a company. Through the transaction, the partners will

contribute to financing a first-phase plant and preparations for a potential

full-scale plant, estimated at around NOK 2 billion.

An investment decision for a first-phase plant for Vianode is expected shortly.

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

-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Odd-Geir Lyngstad

VP Finance and Investor Relations

Tel: +47 976 72 806

Fredrik Norman

VP Corporate Communications & Public Affairs

Tel: +47 918 66 567

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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