Elkem will postpone the start-up of its furnace 3 on Iceland by one month. This
follows a notice from the national power company about the need for electricity
curtailment for large energy users due to low water levels in key hydropower
reservoirs.

Elkem's furnace 3 on Iceland was temporarily shut down in the fourth quarter of
this year in order to accelerate maintenance, with a ramp-down starting from 30
September. The planned start-up has now been postponed until the end of January
2024. This postponement will have no impact on customers or employees.

The national power company, Landsvirkjun, recently notified large energy users
in the southwestern part of Iceland that energy needed for their operations has
to be curtailed. Precipitation in the region has been deficient this December,
and water levels are severely low. Neither the curtailment nor the postponement
has been influenced by the volcano eruption on the Reykjanes peninsula, which
has had no direct or indirect impact on Elkem's operations.

The core product at Elkem in Iceland is speciality ferrosilicon, which is a key
material for the steel industry.

For further information, please contact:

Odd-Geir Lyngstad
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

Fredrik Norman
VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
E-mail: fredrik.norman@elkem.com

About Elkem
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 helps its customers
create and improve essential innovations like electric mobility, digital
communications, health and personal care as well as smarter and more sustainable
cities. With a strong track record since 1904, its global team of more than
7,300 people has a joint commitment to stakeholders: Delivering your potential.
In 2022, Elkem achieved an operating income of NOK 45.9 billion and CDP ratings
of A- on climate and forest. Elkem is listed on the Oslo Stock Exchange (ticker:
ELK), where the company is also included in the ESG Index. www.elkem.com