Major shareholding notification

Reference is made to Elkem ASA's ("Elkem") announcement of 30 April 2026 regarding the completion of the sale of the majority of its Silicones division to Bluestar (the "Silicones Transaction").

Following the completion of the Silicones Transaction, Bluestar's 338.338.536 shares in Elkem have been redeemed and Bluestar is no longer a shareholder in the Company. The total number of shares in Elkem is now 301.102.842.

For reference, Must Invest AS held 19.630.095 shares in Elkem, representing 3.07% of the share capital prior to the Silicones Transaction. Following the redemption of Bluestar's shares, the same shareholding now constitutes 6.52% of the Company's share capital.