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    ELK   NO0010816093

ELKEM ASA

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Vianode progress update - December 2021

12/14/2021 | 11:02am EDT
Vianode, established by Elkem as a new company and brand dedicated to advanced
battery materials, is progressing its work.

In 2021, Vianode has successfully onboarded 30+ highly qualified employees and
opened its industrial pilot plant in Kristiansand, Norway. Several processes
with potential customers and investors are currently ongoing and expected to
proceed into the new year. A potential investment decision for a fast-track
development is therefore expected in the first half of 2022.

"The booming market for batteries and battery materials continues. The growth in
electric vehicles is strong and accelerating, and we are in close dialogue with
many of the world's top battery cell producers," says Vice President in Vianode,
Chris York.

"The interest in Vianode as a relevant battery material supplier is strong. We
are focused on verifying our process technology equipment advancements and
mature our industrial project plans.  In addition, Vianode is awaiting
clarifications related to framework conditions in Norway. This business
represents cutting-edge technology development and we have been clear that a
positive investment decision for a large-scale battery materials plant in Norway
will require competitive public support mechanisms and supportive government
policies," says York.

2021 has been an eventful year for Elkem and Vianode. In April, Elkem
successfully commissioned the industrial pilot for battery materials in
Kristiansand, Norway, starting industrial scale pilot production for customers.
In May, Vianode was established as a new company and brand dedicated to
strategic growth opportunities in advanced battery materials. In August, Vianode
secured an additional lease in Herøya to enhance its industrial production
entrance into material supply for EV batteries.

Throughout the year, more than 30 new colleagues have been onboarded to the
organization towards a total head count of more than 50 employees. Vianode has
recently also been nominated for the "Special award" in the ranking of Norway's
smartest industrial companies, presented by Siemens and the Federation of
Norwegian Industries.

"The Vianode team will continue its progress and close dialogue with potential
customers, partners and government representatives in the coming weeks and
months. The production of battery materials represents one of Elkem's biggest
growth opportunities, and we are excited about the opportunities for Vianode in
2022," says York.

For more information:
Odd-Geir Lyngstad, VP Finance & Investor Relations, Elkem ASA
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.no

Hans Iver Odenrud, Corporate Communication Manager, Elkem ASA
Tel: +47 958 16 230
Email: hans.iver.odenrud@elkem.no

About Vianode, an Elkem company
Vianode, an Elkem company, is a producer of sustainably engineered battery
materials that increases safety and reduces charging time in electric vehicles
and enables better solutions for energy storage applications. Please also visit
www.vianode.com.

About ElkemElkem is one of the world's leading providers of advanced material solutions
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 6,800 people has a
joint commitment to stakeholders: Delivering your potential. In 2020, Elkem was
rated among the world's top 5% on climate and achieved an operating income of
NOK 24.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK).
www.elkem.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2022 40 375 M 4 134 M 4 134 M
Net income 2022 7 196 M 737 M 737 M
Net Debt 2022 2 566 M 263 M 263 M
P/E ratio 2022 3,34x
Yield 2022 13,1%
Capitalization 24 033 M 2 461 M 2 461 M
EV / Sales 2022 0,66x
EV / Sales 2023 0,78x
Nbr of Employees 7 000
Free-Float 43,4%
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Managers and Directors
Helge Aasen Chief Executive Officer
Morten Viga Financial Director-Silicon Materials Division
Zhi Gang Hao Chairman
Louis Vovelle Senior Vice President-Research & Development
Håvard Moe Senior Vice President-Technology
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