Elkem is today re-starting one out of three furnaces at its silicon plant in
Salten, Norway. Production will remain halted at the two other furnaces until
further notice.

A fire broke out at the Salten plant in Norway on 10 December 2023.  The fire
started in a building housing raw material, including carbon materials. It was
under control by emergency services and mostly extinguished within 24 hours. No
people were injured.

Following the incident, Elkem has been working together with external parties
for some weeks to map the damages and plan for necessary repairs.

"Unfortunately, the system for mixing and transportation of raw materials to two
of our furnaces require more restoration, and we are in the process to prepare
for this work. However, we are pleased that the raw material systems to one of
our furnaces was less damaged in the fire, and that we have been able to put in
place temporary measures to re-start production," says Ove Sørdahl, plant
manager for Elkem Salten.

One furnace is restarting on 29 January 2024 and production will gradually be
ramping up. The two other furnaces remain out and their respective start-up
dates are yet to be confirmed.

"I sincerely want to thank all of the people who have helped us in this
extraordinary period to help us protect health, safety and the environment,
first of all, and also getting us to this stage where we can re-start some of
our production of important materials for the green and digital transitions. We
know this progress is important both for our customers, for Elkem and for the
entire Salten community," says Sørdahl.

Elkem Salten is located in Straumen, in the Sørfold municipality in Nordland
county in the north of Norway. It is one of the world's largest and most modern
silicon plants exporting silicon and silica fume products worldwide. The plant
has around 200 employees. With its three furnaces, the plant has an annual
production capacity of 128,000 mt, of which silicon capacity is 80,000.

Elkem has adequate insurance cover for property damage and business
interruption.

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