Elkem ASA - Sale of shares under share incentive programme

Oslo, 28 October 2022 Reference is made to the stock exchange release on 27 October 2022, regarding exercise of share options under Elkem ASA's ("Elkem" or the "Company", OSE ticker code: "ELK") share incentive programme. Pursuant to the sales process conducted by a third party these primary insiders have sold the following number of option shares at a price of NOK 34.3659 per share: · Morten Viga (CFO), sold 16,760 shares at a price of NOK 34.3659 per share, following which he holds 408,380 options and 46,896 shares in the Company. · Frédéric Jacquin (SVP Strategy & Business Development), sold 42,844 shares at a price of NOK 34.3659 per share, following which he holds 508,380 options and 31,551 shares in the Company. · Asbjørn Søvik (SVP Green Ventures & Digital), sold 208,380 shares at a price of NOK 34.3659 per share, following which he holds 400,000 options and 10,000 shares in the Company · Katja Lehland (SVP HR), sold 25,140 shares at a price of NOK 34.3659 per share, following which she holds 400,000 options and 0 shares in the Company. · Luiz Simao (SVP Carbon Solutions), sold 20,015 shares at a price of NOK 34.3659 per share following which he holds 350,000 options and 20,000 shares in the Company. · Larry Zhang (SVP Silicones), sold 23,694 shares at a price of 34.3659 per share, following which he holds 250,000 options and 0 shares in the Company. Further details of the primary insider transactions pursuant to the market abuse regulation article 19 are attached. 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 Email: odd-geir.lyngstad@elkem.no 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