Elkem Company Overview and Financials

Disclaimer (I/II) By reading this presentation or attending any meeting or oral presentation held in relation thereto, you (the "Recipient") agree to be bound by the following terms, conditions and limitations. These materials have been prepared by Elkem ASA (the "Company" and together with its direct and indirect subsidiaries, the "Group") solely for information purposes in connection with a contemplated offering of shares by the Company in a private placement (the "Private Placement"). ABG Sundal Collier ASA and Morgan Stanley & Co. International plc are acting as Joint Lead Managers and Joint Bookrunners (the "Joint Managers"). The Joint Managers have not carried out due diligence investigations in relation to the Company and the Private Placement. The Joint Managers have not carried out any due diligence review and no technical verifications, tax or other financial due diligence or third party verifications of the Company's legal position, financial position, prospects, forecasts and budgets have been carried out by or on behalf of the Joint Managers. The Joint Managers have not taken any steps to verify the information in this Presentation or any other investor material other than obtaining certain customary warranties from the Company in a placement agreement expected entered into between the Company and the Joint Managers on 26 April 2021 and obtaining certain confirmations in discussions with management of the Company. These materials speak only as of their date, and the views expressed are subject to change based upon a number of factors, including, without limitation, macroeconomic and equity market conditions, investor attitude and demand, the business prospects of the Group and other issues subject to change. The Presentation contains financial information derived from the Company's audited consolidated financial statements, the Company's unaudited interim financial reports. To obtain complete information of the Company's financial position, operational results and cash flow, the financial information in this presentation must be read in conjunction with the Company's audited financial statements and other financial information made public by the Company. These materials and the conclusions contained herein are necessarily based on economic, market and other conditions, as in effect on, and the information available to the Company as of, their date. These materials do not purport to contain a complete description of the Group or the market(s) in which the Group operates, nor do they provide an audited valuation of the Group. The analyses contained in these materials are not, and do not purport to be, appraisals of the assets, stock or business of the Company or any other person. An investment in the Company involves significant risk, and several factors could adversely affect the business, legal or financial position of the Company or the value of its securities. The Recipient should carefully review the chapters on "Risk Factors" in the presentation for a description of certain of the risk factors that will apply to an investment in the Company. The Company strongly suggests that each Recipient seeks its own independent advice in relation to any financial, legal, tax, accounting or regulatory issues discussed herein. Nothing herein should be construed as financial, legal, tax, accounting, actuarial or other specialist advice. These materials do not purport to contain all of the information that any Recipient may require to make a decision with regards to any transaction. Any decision as to whether or not to enter into any transaction should be taken solely by the relevant Recipient. Before entering into such transaction, each Recipient should take steps to ensure that it fully understands such transaction and has made an independent assessment of the appropriateness of such transaction in the light of its own objectives and circumstances, including the possible risks and benefits of entering into such transaction. These materials have been provided to the Recipients on the basis that each Recipient and such Recipient's representatives, directors, officers, employees and professional advisers keep these materials (and any other information that may be provided to such Recipient) confidential. These materials (and any other information which may be provided to any Recipient) may not be disclosed, in whole or in part, or summarized or otherwise reproduced, distributed or referred to, in whole or in part, without the prior written consent of the Company. The information used in preparing these materials is subject to change without notice. None of the Company, the Joint Managers or any of their affiliates assumes any responsibility for the independent verification of any such information and has relied on such information being complete and accurate in all material respects. None of the Company, the Joint Managers or any of their affiliates (nor any of its or their respective directors, officers, employees, professional advisers or representatives) makes any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of such information, these materials (including, without limitation, any opinion contained therein), any of their contents or any of the results that can be derived from these materials. No responsibility or liability (whether in contract, tort or otherwise) is or will be accepted by the Company, the Joint Managers or any of their affiliates or any of its or their respective directors, officers, representatives, employees, advisers or agents as to, or in relation to, these materials, their contents, the accuracy, reliability, adequacy or completeness of the information used in preparing these materials, any of the results that can be derived from these materials or any written or oral information provided in connection therewith (including, without limitation, any responsibility or liability (i) in relation to the distribution of possession of these materials in any jurisdiction or (ii) for any loss or damage of any kind whatsoever arising as a result of the use or misuse of these materials) and any such responsibility, liability or obligation is expressly disclaimed, except to the extent that such responsibility, liability or obligation cannot be excluded by law. Analyses and opinions contained herein may be based on assumptions that, if altered, can change the analyses or opinions expressed. No audit of these materials have been undertaken by an independent third party. Any statement, estimate or projection included in these materials (or upon which any of the conclusions contained herein are based) with respect to anticipated future performance (including, without limitation, any statement, estimate or projection with respect to the condition (financial or otherwise), prospects, business strategy, plans or objectives of the Company and/or any of its affiliates) may prove not to be correct. No representation or warranty is given as to the completeness or accuracy of any forward-looking statement contained in these materials or the accuracy of any of the underlying assumptions. Nothing contained herein shall constitute any representation or warranty as to the future performance of the Company, any financial instrument, credit, currency rate or other market or economic measure. Information about past performance given in these materials is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance. None of the Company, the Joint Managers or any of their affiliates has verified the achievability of any estimate or forecast of future financial performance contained herein (including, without limitation, any estimate of potential cost savings and synergies), nor of any of the methods underlying the preparation of any such estimate or forecast. To the extent available, the industry, market and competitive position data contained in these materials have come from official or third party sources. Although the Company believes that each of these sources is reasonable and reliable, it has not independently verified their data. In addition, certain of these data comes from the Company 's own internal research and estimates based on the knowledge and experience of the Company's management in the market in which the Group operates. Although the Company believes that its research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness. Accordingly, the Recipients should not place undue reliance on any of the industry, market and competitive data contained in these materials. Elkem 2