Oslo, 19 March 2026

Scope Ratings has today resolved Elkem's rating status, and affirmed its issuer
rating at BBB- and assigned a Negative Outlook.

Scope Ratings states that Elkem's affirmed issuer rating is supported by
unchanged financial risk profile, offsetting its lowered business risk profile.
The Negative Outlook stems from weak 2025 results paired with limited
deleveraging provided by the Silicones divestment.

Elkem remains committed to an investment grade profile, targeting further cost
and debt reductions to sustain robust financial metrics.

The rating report from Scope is attached.

For further information, please contact:
Odd-Geir Lyngstad
VP Finance and Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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