Elkem

Elkem ASA - Exercise of share options under share incentive programme

Oslo, 25 August 2023

Option holders under Elkem ASA's ("Elkem" or the "Company", OSE ticker code:

"ELK") share incentive programme have today exercised 50,000 options at an

exercise price of NOK 19.10 per share. The exercised options will be settled by

delivery of Elkem's shareholding of own shares. Following the transfer, the

Company will hold 4,051,090 own shares, subject to updates under the current buy

-back programme.

The exercised options have been granted in accordance with the Company's share

option programme described in the Company's latest annual financial statement.

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

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

7,300 people has a joint commitment to stakeholders: Delivering your potential.

In 2022, Elkem achieved an operating income of NOK 45.9 billion and CDP ratings

of A- on climate and forest. 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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