Oslo, 11 March 2024

Elkem has decided to exit its financial investment in the advanced battery
materials company Vianode.

This is in line with the previously announced comprehensive programme for
earnings improvements and capex reductions in Elkem, and a focus on Elkem's core
business.

Going forward, Vianode will continue to be backed by global aluminium and
renewable energy company Hydro and Altor Fund V, a fund managed by Altor Fund
Manager.

Through the highly skilled employees who have joined Vianode from Elkem since
its founding in 2021, Vianode will continue to benefit from world-class
competence in advanced battery materials.

The parties have agreed that the terms of this transaction shall not be
disclosed.

This release contains inside information related to Elkem ASA pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This release is issued by
Odd-Geir Lyngstad, VP Finance and Investor Relations, Elkem ASA. Date and time
of publication: 12:35 CET, 11.03.2024.

For further information, please contact:
Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

Maria Ekornes Myhre
Communication Manager
Tel: +47 994 12 707
Email: maria.ekornes.myhre@elkem.com

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
7,400 people has a joint commitment to stakeholders: Delivering your potential.
In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings
of A on Forests, and A- on Climate Change and Water Security. 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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