Elkem ASA - Termination of share option programme

Oslo, 11 August 2026

The board of directors of Elkem ASA (the "Company") has resolved to terminate the Company's share option programme and to cancel the 5,017,333 share options granted and outstanding under the option programme. The option holders will receive cash settlement for their share options and no shares will accordingly be sold or issued by the Company.  

The following primary insiders will have had their options cancelled:

• Morten Viga, CFO, will have 300,000 share options cancelled. Following the cancellation he will hold 50,896 shares and no share options in the Company.
• Håvard Moe, SVP Technology, will have 300,000 share options cancelled. Following the cancellation he will hold 10,990 shares and no share options in the Company.
• Morten Magnus Voll, SVP Strategy and Business Development, will have 150,000 share options cancelled. Following the cancellation he will hold 13,188 shares and no share options in the Company.
• Katja Lehland, SVP Human Resources, will have 300,000 share options cancelled. Following the cancellation she will hold no shares and no share options in the Company.
• Luiz Simao, SVP Elkem Silicon, will have 300,000 share options cancelled. Following the cancellation he will hold 24,500 shares and no share options in the Company.
• Inge Grubben-Strømnes, SVP Elkem Foundry Alloys, will have 300,000 share options cancelled. Following the cancellation he will hold 38,672 shares and no share options in the Company.
• Helge Aasen, Chair of the board of directors, will have 67,333 share options cancelled. Following the cancellation he will hold 86,406 shares and no share options in the Company.

Please refer to the attached notifications of trade for further information.

This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and 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
E-mail: marianne.stigset@elkem.com

About Elkem
Elkem is a global metals and materials company established in 1904. The company holds leading positions in silicon, ferrosilicon, foundry alloys and carbon solutions, supplying materials essential to modern society - from critical infrastructure and manufacturing to digitalisation, mobility and energy solutions. Elkem produces its materials by combining natural raw materials, renewable energy and advanced process technology, creating solutions that enable a more sustainable future. The company employs around 3,000 people, operates in more than 30 locations across Europe, Asia, the Americas and Africa, and is headquartered in Oslo, Norway where it is listed on the Oslo Stock Exchange (ELK). Driven by innovation. Powered by nature. Shaping the future.