Elkem ASA’s Initial Public Offering

Advokatfirmaet Thommessen AS and Linklaters LLP are acting as legal counsels to Elkem and Bluestar Elkem International Co., Ltd. S.A. (“Bluestar”). Advokatfirmaet Schjødt AS and Shearman & Sterling (London) LLP are acting as legal counsels to the Managers.

The shares of Elkem ASA (“Elkem”, the “Company”, OSE ticker: “ELK”) allocated to investors in the initial public offering in connection with the listing of Elkem on Oslo Børs have been subject to conditional trading on an “if issued/if sold” basis since 22 March 2018, i.e. subject to certain termination provisions in the underwriting agreement not being invoked by the Managers (as defined below), as further described in the stock exchange announcement dated 22 March 2018.

The termination provisions in the underwriting agreement lapsed today, at 17:00 (CET). None of the Managers has invoked any such provisions.

From and including 09:00 (CET) on 26 March 2018, the shares in Elkem will trade on an unconditional basis.

ABG Sundal Collier ASA and Morgan Stanley & Co. International plc are acting as Joint Global Coordinators and Joint Bookrunners, Carnegie AS, Citigroup Global Markets Limited and Nordea Bank AB (publ), filial i Norge are acting as Joint Bookrunners, in connection with the IPO (collectively, the “Managers”).

Founded in 1904, Elkem is one of the world’s leading suppliers of silicon-based advanced materials, specialty ferrosilicon alloys and carbon materials. Headquartered in Oslo, Elkem has 27 production sites in Europe, Asia, North America and South America, and an extensive network of sales offices around the world.

Shearman advised the joint global coordinators and joint bookrunners with David Dixter (Picture), Pawel J. Szaja, Saif Alaqili, Fabio Pazzini, Kristen Garry, Simon Letherman, Jeremy Kutner, Devon Yamauchi, Joe Ohlson and Mehran Massih.

Involved fees earner: David Dixter – Shearman & Sterling; Pawel Szaja – Shearman & Sterling; Saif Alaqili – Shearman & Sterling; Fabio Pazzini – Shearman & Sterling; Jeremy Kutner – Shearman & Sterling; Joe Ohlson – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Devon Yamauchi – Shearman & Sterling; Mehran Massih – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Citigroup Inc.; Morgan Stanley; Nordea Bank AB; ABG Sundal Collier Norge ASA; Carnegie Investment Bank AB;