Elkem announces completion of the Silicones division sale to Bluestar and redemption of shares

30 Apr 2026 17:49 CEST

Oslo, 30 April 2026

Reference is made to Elkem ASA's ("Elkem" or the "Company") announcement made on
13 February 2026 regarding the entering into of an agreement to sell the
majority of its Silicones division to Bluestar (the "Silicones Transaction") and
to the announcement made on 9 March 2026 regarding the resolutions of Elkem's
general meeting to approve the share purchase agreement with Bluestar and to
redeem Bluestar's shares in the Company.

The Silicones Transaction has today been completed. As part of the completion,
all of Bluestar's 338,338,536 shares in Elkem have been redeemed, and Bluestar
is no longer a shareholder of the Company. Following redemption of these shares,
the Company's registered share capital is NOK 1,505,514,210 divided into
301,102,842 shares, each having a nominal value of NOK 5.

The changes to the composition of Elkem's Board of Directors and Nomination
Committee resolved by the Company's general meeting on 30 April 2026 became
effective upon completion of the Silicones Transaction, and Bluestar accordingly
no longer has representatives on Elkem's Board of Directors or Nomination
Committee.

This information is subject to the disclosure requirements pursuant to section 4
-3, cf. section 5-12 of the Norwegian Securities Trading Act.

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

Marianne Stigset
VP Corporate Communications & Public Affairs
Tel: +47 411 88 482
Email: marianne.stigset@elkem.com

About Elkem:
With a strong track record since 1904, 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 has been awarded top score of A on Forests and Water Security,
and B on Climate Change from CDP. 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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