Elkem

Elkem ASA - Elkem enters exclusive sales process for Silicones division

Oslo, 18 September 2025

Reference is made to the stock exchange release published 23 January 2025

announcing Elkem ASA's ("Elkem" or the "Company") initiation of a strategic

review of the Silicones division, with the ambition to streamline Elkem, as well

as to enable allocation of capital to accelerate growth in the Silicon Products

and Carbon Solutions divisions.

Elkem has now entered an exclusive sales process with a counterparty. The

contemplated process is well aligned with the strategic review and represents an

important milestone amid a challenging market environment.

Following an evaluation of alternative options, the Company has decided to

pursue exclusive negotiations with a major industrial player that has a

significant presence in the global chemicals industry. Elkem is confident that

the potential transaction would represent the best possible outcome for the

Silicones division as well as the Company and all its stakeholders.

Subject to negotiations, agreement and necessary approvals, the closing of the

transaction is expected to occur in the first half of 2026.

ABG Sundal Collier ASA is acting as financial advisor to Elkem.

For further information, please contact:

Odd-Geir Lyngstad

VP Finance & Investor Relations

Tel: +47 976 72 806

Marianne Stigset

VP Corporate Communications & Public Affairs

Tel: +47 411 88 482

About Elkem:

Elkem is one of the world's leading providers of advanced silicon-based

materials 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

7,200 people has a joint commitment to stakeholders: Delivering your potential.

In 2024, Elkem achieved an operating income of NOK 33 billion. Elkem has been

awarded top score of A on Forests and Water Security, and B on Climate Change

from CDP. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the

company is also included in the ESG Index. www.elkem.com

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