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Elkem Completes Silicones Division Sale to Bluestar and Redemption of Shares

In February 2026, Elkem ASA/NO announced an agreement to sell the majority of its silicone business unit to Bluestar. This was followed in March by the announcement of the resolutions passed at Elkem’s annual general meeting to approve the share purchase agreement with Bluestar and to repurchase Bluestar’s shares in the company.

The Silicones Transaction has been completed. As part of the completion, all of Bluestar’s 338 338 536 shares in Elkem have been redeemed, and Bluestar is no longer a shareholder of the Company. Following redemption of these shares, the Company’s registered share capital is NOK 1,505,514,210 divided into 301,102,842 shares, each having a nominal value of NOK 5.

The changes to the composition of Elkem’s Board of Directors and Nomination Committee resolved by the Company’s general meeting on 30 April 2026 became effective upon completion of the Silicones Transaction, and Bluestar accordingly no longer has representatives on Elkem’s Board of Directors or Nomination Committee.

www.elkem.com


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