ABG Sundal Collier acted as sole global coordinator and joint bookrunner in the NOK 1,500 million fully underwritten private placement in Elkem ASA

Elkem ASA (“Elkem” or the “Company”) announced on 6 May 2026 the successful completion of a NOK 1,500 million fully underwritten private placement, equal to 55,555,555 new shares, at a subscription price of NOK 27.00 per share. The subscription price represented a 3.2% discount to the intraday closing price for the Elkem share.

The private placement attracted strong investor interest and was significantly oversubscribed, with the proceeds ensuring deleveraging and strengthening of the equity in the Company following the redemption of shares held by Bluestar in relation to the Silicones transaction, where ABGSC acted as Exclusive Adviser to Elkem. The net proceeds will strengthen the Company’s liquidity position and be used for general corporate purposes.

Subject to publication by the Company of a prospectus approved by the Financial Supervisory Authority of Norway, the private placement will be followed by a subsequent offering towards existing shareholders to mitigate the dilutive effects for shareholders not participating in the private placement. Such offering will raise gross proceeds of NOK 300 million via 11,111,111 new shares. Further information regarding the subsequent offering can be found here.

ABG Sundal Collier appreciates the opportunity to having acted as Sole Global Coordinator and Joint Bookrunner and congratulates the Company in its transition to becoming a focused pure play metals and materials company.