Elkem ASA - Exercise of share options under share incentive programme

10 Mar 2023 12:17 CET

Oslo, 10 March 2023

Option holders under Elkem ASA's ("Elkem" or the "Company", OSE ticker code:
"ELK") share incentive programme have today exercised a total of 322,212
options, of which 120,000 options have an exercise price of NOK 19.10 per share,
68,832 options have an exercise price of NOK 23.53 per share, and 133,380
options have an exercise price of NOK 31.20 per share. The exercised options
will be settled by delivery of Elkem's shareholding of own shares. Following the
transfer, the Company will hold 3,601,090 own shares.

The primary insiders listed below have transferred their 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 subsequently obtained by the
third party.

The results of the sales process will be announced in a separate stock exchange
notice.

· Morten Viga (CFO), exercised 8,380 options at an exercise price of NOK 31.20
per share, following which he holds 400,000 options and 46,896 shares in the
Company.
· Håvard Moe (SVP Technology), exercised 100,000 options at an exercise price
of NOK 31.20 per share, following which he holds 400,000 options and 10,000
shares in the Company.
· Inge Grubben-Strømnes (SVP Silicon Products), exercised 100,000 options at
an exercise price of NOK 19.10 per share and 38,526 options at an exercise price
of 23.53 per share, following which he holds 400,000 options and 35,189 shares
in the Company.

All the exercised options have been granted in accordance with the Company's
share option programme described in the Company's latest annual financial
statement.

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.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
7,300 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

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584881_Elkem_ASA_Exercise_of_share_options_under_share_incentive_programme_10_March_2023.pdf
584881_KRT1500_Elkem_ASA_10032023.pdf