Elkem announces price increase for silicones

24 Jul 2024 10:58 CEST

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 savings
are not sufficient to offset the negative impact of escalating cost increases
related to raw materials, packaging, energy, transportation & logistics
services, labour and operational maintenance, therefore necessitating the
increase.

For further information, please contact:

Maria Ekornes Myhre
Acting VP Corporate Communications and Public Affairs
Tel: +47 994 12 707
Email: maria.ekornes.myhre@elkem.com

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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