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Scope downgrades Elkem’s issuer rating to BBB-/Stable

Oslo, 20 December 2024 Scope has today downgraded Elkem’s issuer rating to BBB-/Stable from BBB/Negative. The rating action is driven by a slower-than-expected recovery in credit metrics amid ongoing market headwinds. Elkem’s financial metrics have gradually improved during 2024, however Scope expects leverage (debt/EBITDA) to remain at 2.5x or above in 2024-2025. Elkem remains committed to an investment grade profile targeting a leverage ratio of 1.0 – 2.0x over the cycle. The rating report from Scope is attached. For further information, please contact:Odd-Geir Lyngstad

Elkem signs long-term power agreement with Hafslund

Oslo, Norway – December 18, 2024 - Elkem and Hafslund have entered into a long-term power agreement for the period 2028 to 2035. The annual contract volume is approximately 400 GWh, with delivery in the NO3 price area. The new contract supports long-term operations at Elkem’s Thamshavn plant and enables investments at the production facility, which is located in Mid-Norway. The plant, with its 150 employees, holds a key role in the local community. It is the third-largest export company in the Trøndelag county. In Thamshavn, Elkem converts power into the production of silicon and high-

Elkem secures EUR 1.8 million EU grant to explore CO2-free silicon production

Kristiansand, Norway – November 27, 2024 – Elkem ASA has secured EUR 1.8 million in funding from the European Union for the groundbreaking Elkem Sicalo® (Silicon production with carbon looping) project, which aims to eliminate all CO2 emissions from silicon production.Elkem, SINTEF and NORCE are completing the first pilot phase of Elkem Sicalo® at Elkem’s technology park in Kristiansand, Norway. The project entails capturing the carbon emitted from the silicon furnace and reusing it as a reductant in the silicon production process. The EU has now granted EUR 9.9 million in funding for the

Elkem ASA – Successful listing of bond issuances

Oslo, 25 October 2024 Reference is made to the stock exchange notice of 5 September 2024 regarding the issuances of senior unsecured bonds. Elkem has prepared a listing prospectus for the admission of the bonds to trading on the Oslo Stock Exchange, scheduled for Monday 28 October 2024. The base prospectus prepared by Elkem ASA was approved by Finanstilsynet (The Financial Supervisory Authority of Norway) on 29 January 2024. Final Terms are available on the company's website: -           ISIN NO0013331280 - NOK 1,000,000,000 senior unsecured bond issue FRN 2024/2027 -

Third quarter 2024 – Elkem continues to improve profitability despite weak markets

Oslo, 24 October 2024 Elkem reported an EBITDA of NOK 1,235 million in the third quarter 2024, the highest since the first quarter 2023. The improved result was mainly driven by higher sales volume and operational improvements in the Silicones division. Elkem’s total operating income for the third quarter 2024 was NOK 8,056 million, an increase of 3% compared to the third quarter 2023. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was NOK 1,235 million, which was the highest since the first quarter 2023. Earnings per share (EPS) was NOK 0.15 in the quarter,

Elkem enters strategic partnership with Startuplab to drive green industrial technology innovation

Oslo, 17 October 2024 - Elkem ASA, a global leader in the production of advanced silicon-based materials, and Startuplab, Norway’s leading incubator and early-stage investor for ambitious technology startups, have entered a strategic partnership to accelerate the development of green industrial technologies and digital solutions.“Elkem strives to be at the forefront of technological advancements, continuously exploring new ways of manufacturing our existing product-portfolio more sustainably and efficiently, and developing new products for a better world. This collaboration with Startuplab

Elkem ASA - Invitation to third quarter 2024 results presentation

Oslo, 16 October 2024 Elkem ASA will release its report for the third quarter 2024 on Thursday, 24 October at 7.00 a.m. CET. The quarterly report and presentation material will be made available at this time at www.elkem.com In connection with the quarterly report, the company will host a presentation at 9.00 a.m. CET. The event will take place in Auditoriet, Haakon Vll gate 2, Oslo. The third quarter presentation can also be viewed in a live webcast at Elkem Webcast 3Q 2024 (royalcast.com)  or via www.elkem.com

Elkem ASA – Minutes from the extraordinary general meeting

Oslo, 8 October 2024 An extraordinary general meeting of Elkem ASA was held on 8 October 2024. All proposals on the agenda were adopted, cf. the notice of the extraordinary general meeting that was announced by stock exchange announcement on 13 September 2024. The minutes of the extraordinary general meeting is attached and available on https://www.elkem.com/investor/debt-and-share-information/annual-general-meeting/. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. For further information, please

Elkem ASA - Notice of an extraordinary general meeting 2024

Oslo, 13 September 2024 An extraordinary general meeting of Elkem ASA will be held on 8 October at 09:00 (Norwegian time) for the election of new board members and a new member to the nomination committee. The meeting will be conducted as a digital meeting on the Lumi AGM, and with utilisation of electronic voting for all attending shareholders. The full notice is attached, and all relevant documents can be found on www.elkem.com/investor/debt-and-share-information/annual-general-meeting/ This information is subject to the disclosure requirements pursuant to section 5-12 of the

Elkem ASA - Successful placement of senior unsecured NOK bonds

Oslo, 5 September 2024 Reference is made to the stock exchange notice dated 2 September 2024. Elkem ASA has today successfully issued NOK 1,500 million of new senior unsecured bonds. NOK 400 million has been issued with a tenor of 3 years and a coupon of 3 month Nibor + 1.25 % per annum, NOK 800 million has been issued with a tenor of 5 years and a coupon of 3 month Nibor + 1.55 % per annum, and NOK 300 million has been issued with a tenor of 7 years and a coupon of 3 month Nibor + 1.75 % per annum. The transaction was oversubscribed. Settlement will take place on 17 September 2024.

Elkem ASA – Fixed income global investor call and contemplated NOK bond issuance

Oslo, 2 September 2024 Elkem ASA, rated BBB (Negative) by Scope, has mandated Danske Bank and SEB as Joint Lead Managers to arrange a fixed income global investor call on 4 September 2024. One or more NOK-denominated senior unsecured bond issues with a minimum tenor of three years and an expected combined NOK benchmark size may follow, subject to inter alia market conditions. For further information, please contact:Odd-Geir LyngstadVP Finance and Investor RelationsTel: +47 976 72 806Email: odd-geir.lyngstad@elkem.com           About ElkemElkem is one of the world’s

Elkem ASA – Approval of the intra-group merger with Elkem Testvirksomhet AS

Oslo, 30 August 2024 Reference is made to Elkem ASA’s (“Elkem”) announcement on 28 June 2024 regarding the merger between Elkem and Elkem Testvirksomhet AS. The board of directors of Elkem and Elkem Testvirksomhet AS have today approved the merger. The decision to approve the merger will be registered with the Norwegian Register of Business Enterprises and is scheduled to take place by the end of 2024. The merger is expected to be implemented upon expiration of the statutory six-week creditor notice period. This information is subject to the disclosure requirements pursuant to

Elkem announces price increase for silicones

Oslo (24 July, 2024) – Elkem announces price increases for its silicones products worldwide. The increase varies by product line, with a minimum increase of 10%, effective 15 August, and as contracts permit.This price increase is necessary to enable Elkem to continue to invest in the capital needed to support capacity expansion, equipment maintenance and product development to meet customers’ growing needs in a safe and sustainable manner.   While Elkem’s silicones division has made great strides in operational cost reductions and efficiency improvements over the last 18 months, these

Elkem ASA – Sale of shares under share incentive programme

Oslo, 16 July 2024 Reference is made to the previous stock exchange release on 15 July 2024, 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 this primary insider has sold the following number of option shares at a price of NOK 22.8001 per share:  · Morten Magnus Voll (SVP Strategy and Business Development), sold 25,000 shares at a price of NOK 22.8001 per share, following which he holds 175,000 options and 10,384 shares in the Company.

Elkem ASA – Exercise of share options under share incentive programme

Oslo, 15 July 2024 Option holders under Elkem ASA's ("Elkem" or the "Company", OSE ticker code: "ELK") share incentive programme have today exercised a total of 179,190 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 5,271,900 own shares. The primary insider listed below has transferred his rights to receive the new shares to a third party in return for a net sales proceed which will be finally determined on the basis of the market price

Second quarter 2024 – Profitability improvements driven by enhanced operating performance

Oslo, 12 July 2024 Elkem reported an EBITDA of NOK 1,030 million in the second quarter 2024. This is in line with the corresponding quarter last year, and an improvement compared to the preceding three quarters. “Improved profitability was primarily driven by a strong operational performance as part of Elkem’s comprehensive improvement programme. Market conditions have remained challenging in the quarter,” says Elkem CEO Helge Aasen. Elkem’s total operating income for the second quarter 2024 was NOK 8,490 million, which was down 6% compared to the second quarter 2023, but up from

Elkem ASA - Invitation to second quarter and half year 2024 results presentation

Oslo, 3 July 2024   Elkem ASA will release its report for the second quarter and half year 2024 on Friday 12 July at 7.00 a.m. CET. The quarterly report and presentation material will be made available at this time at www.elkem.com   In connection with the quarterly report, the company will host a presentation at 9.00 a.m. CET. The event will take place in Auditoriet, Haakon Vll gate 2, Oslo.   The second quarter presentation can also be viewed in a live webcast at Elkem Webcast Q2 2024  or via www.elkem.

Elkem ASA – Merger with Elkem Testvirksomhet AS

Oslo, 28 June 2024 The boards of directors Elkem ASA (“Elkem”) and its wholly owned subsidiary Elkem Testvirksomhet AS (formerly known as REC Solar Norway AS) have today entered into a merger plan for the merger of Elkem Testvirksomhet AS (as the non-surviving entity) and Elkem (as the surviving entity). At completion of the merger, Elkem will acquire all assets and rights and assume all obligations of Elkem Testvirksomhet AS, and at the same time, Elkem Testvirksomhet AS will be dissolved as a legal entity. The merger is concluded on the basis of the simplified merger procedure for

Elkem to pilot CO2-free silicon production with support from Enova

Elkem is researching a groundbreaking new concept for silicon production, which aims to eliminate nearly all direct CO2 emissions. The concept involves capturing and recycling the carbon in the process off gas and reusing it in the production process.  Enova has granted Elkem 31 million Norwegian kroner for a medium scale pilot, to be carried out in Kristiansand, Norway.Silicon is a critical raw material for the green and digital transitions, as it is used in electric vehicles, solar cells, batteries, computers, wind turbines and much more. The production of silicon is however a source of

Elkem ASA – Exercise of share options under share incentive programme

Oslo, 31 May 2024 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 5,451,090 own shares. 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

Elkem ASA – Bo Li elected as new Chair of the board of directors

Oslo, 22 April 2024 Following Elkem’s annual general meeting on 18 April 2024, the board has decided to elect Bo Li as the new Chair. Bo Li is also Chair of the board of China National Bluestar (Bluestar), Elkem’s majority shareholder, and a subsidiary of Sinochem.   The former Chair, Zhigang Hao, will continue as board member in Elkem, and holds the position as CEO of Adisseo, a subsidiary of Bluestar. Dag J. Opedal will continue as Vice Chair of the board of directors. For further information, please contact:Odd-Geir LyngstadVP Finance & Investor RelationsTel: +47 976 72

Elkem ASA - Minutes from the annual general meeting 2024

Oslo, 18 April 2024 The annual general meeting of Elkem ASA was held on 18 April 2024 in Oslo. All proposals on the agenda were adopted, cf. the notice of the annual general meeting that was sent to the Oslo Stock Exchange on 22 March 2024. The minutes of the annual general meeting is attached and available on www.elkem.com. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. For further information, please contact:Odd-Geir LyngstadVP Finance & Investor RelationsTel: +47 976 72 806Email: odd-geir.

First quarter 2024 – EBITDA improvement from modest levels

Oslo, 18 April 2024 Elkem’s EBITDA in the first quarter 2024 improved compared to the preceding two quarters despite challenging market conditions. Commodity sales prices have improved during the quarter, but demand is still weak. There are signs of demand recovery, but the uncertainty is still significant. Elkem’s total operating income for the first quarter 2024 was NOK 7,961 million, which was in line with the preceding quarters, but down 18% from the first quarter 2023. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was NOK 721 million, which was up from

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