Regulatory press release

Elkem ASA - Bluestar discloses new shareholding

Oslo, 30 April 2026

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

As part of completion of the Silicones Transaction, all of Bluestar Elkem
International Co. Ltd. S.A's 338,338,536 shares in Elkem have been redeemed, and
Bluestar Elkem International Co. Ltd. S.A.is no longer a shareholder of Elkem.
Please see attached form of notification for further details.

This disclosure is made pursuant to article 19 of the EU Market Abuse Regulation
and sections 4-2 and 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