ELK: Elkem to invest NOK 260 million in furnace renewal at Elkem Rana in Norway

Elkem ASA has approved an investment of NOK 260 million to renew a furnace at
Elkem Rana in Northern Norway, securing the plant's long-term production of
ferrosilicon and Microsilica.

The project includes replacement of one of Elkem Rana's two furnaces and its off
-gas equipment, which has reached the end of its operational lifetime. The
installation is scheduled to start in the first quarter of 2027. Elkem Rana's
second furnace will operate as normal during the period.

"This investment will secure continued safe, low-emission and cost-competitive
production at Elkem Rana for many years to come. The upgraded furnace will
incorporate Elkem's latest proven technology, enhancing operational reliability,
process control, energy efficiency, and working conditions," said Luiz Simão,
SVP Elkem Silicon.

The new furnace is designed to ensure safe and stable production, and further
reduce dust and process emissions. It will also facilitate increased use of
biocarbon in line with Elkem's climate ambitions.

Elkem Rana is one of Europe's leading ferrosilicon plants and a key supplier to
the steel, foundry and metallurgical industries. The Elkem Microsilica[®] line
of products improves the performance of a wide range of construction materials,
including cement, concrete and gypsum board.

The plant produces approximately 80,000 tonnes of ferrosilicon and 15,000 tonnes
of Microsilica annually across its two furnaces.

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 and operates
in more than 20 locations across Europe, Asia, the Americas and Africa. Elkem is
headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange (ELK).

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