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

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