Elkem ASA - Sale of shares under share incentive programme

Oslo, 9 February 2023 Reference is made to the previous stock exchange release on 9 February 2023, 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 38.3392 per share: · Louis Vovelle (SVP Innovation and R&D), sold 16,760 shares at a price of NOK 38.3392 per share, following which he holds 408,380 options and 6,896 shares in the Company. · Håvard Moe (SVP Technology), sold 100,000 shares at a price of NOK 38.3392 per share, following which he holds 500,000 options and 110,000 shares in the Company. · Inge Grubben-Strømnes (SVP Silicon Products), sold 138,000 shares at a price of NOK 38.3392 per share, following which he holds 538,526 options and 35,189 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 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 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 45.9 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). www.elkem.com