Elkem ASA: Key information relating to the contemplated subsequent offering

Oslo, 6 May 2026

Reference is made to the stock exchange announcement made by Elkem ASA ("Elkem" or the "Company") on 6 May 2026, where the Company announced the allocation of 55,555,555 new shares in the Company (the "Offer Shares") raising gross proceeds of approximately NOK 1,500 million (the "Private Placement"), and a contemplated subsequent repair offering of up to 11,111,111 new shares raising gross proceeds of up to approximately NOK 300 million at the same subscription price as in the Private Placement (the "Subsequent Offering").

The Subsequent Offering will, subject to applicable securities law, be directed towards existing shareholders in the Company as of 6 May 2026, as registered in the Company's register of shareholders with Euronext Securities Oslo on 8 May 2026, who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action.

The following key information is provided with respect to the Subsequent Offering:

Date on which the terms and conditions of the Subsequent Offering were announced: 6 May 2026

Last day including right: 6 May 2026

Ex-date: 7 May 2026

Record date: 8 May 2026

Date of approval: Expected on 15 May 2026

Maximum number of new shares: 11,111,111

Subscription price: NOK 27 per share

Shall the rights be listed: No

Other information: The Subsequent Offering is subject to, inter alia, completion of the Private Placement, relevant corporate resolutions, and the publication of a prospectus to be approved by the Financial Supervisory Authority of Norway. The Company reserves the right in its sole discretion to not conduct or to cancel the Subsequent Offering.

This information is published in accordance with the requirements of the Continuing Obligations for the Oslo Stock Exchange.