Elkem Asa · OSL:ELK
Elkem Asa — SEB Nordic Seminar 2026
16 slides from Elkem Asa's conference presentation, Jan 8, 2026
Slide 1: Nordic Seminar SEB, Copenhagen
Nordic Seminar SEB Copenhagen, 8 January 2026
Slide 2: We are Elkem
We are Elkem Advanced silicon -based Creating value through profitable & materials for a more sustainable growth sustainable world ~7.200 employees Listed at Oslo Stock NOK ~33 bn in total globally Exchange since 2018 revenues 2024 Silicones Silicon Products Carbon Solutions
Slide 3: Three specialised divisions with global footprint and leadership positions
Three specialised divisions Percentage of operating income Q1 -Q3 2025 Carbon with global footprint and Solutions 10% leadership positions Silicones 48% Silicon Products 42% Silicones Fully integrated silicones manufacturer Percentage of EBITDA Q1 -Q3 2025 Silicon Products Global producer and provid
Slide 4: Strategic review - selling the Silicones division
Corporate strategy Strategic review - selling the Silicones division ▪ Elkem has initiated a strategic review to sell the Silicones division to streamline the company and redirect capital towards accelerating growth in the Silicon Products and Carbon Solutions divisions ▪ Elkem has entered an exclus
Slide 5: More than 120 years of industrial value creation
More than 120 years of industrial value creation rooted in Norwegian scientific and technological expertise Locations: Tana Salten Mårnes Rana Thamshavn Bremanger 1904 Bjølvefossen Founded by Sam Oslo Eyde, based on Kristian Birkeland’s Kristiansand scientific discoveries 5
Slide 6: Norwegian minerals, renewable energy & entrepreneurship
Excellent cost positions Norwegian minerals, renewable energy & entrepreneurship Share of electricity consumption hedged for plants in Norway ▪ Elkem has a strong cost position based on operational excellence and economies of scale ▪ Upstream integration into quartz and electrode paste ▪ Long -term
Slide 7: Elkem's value chain focused on silicon
Elkem’s value chain focused on silicon - Defined by EU as critical for range of strategic value chains Electronics Health care Construction Infrastructure Renewable energy Consumer Automotive goods Silicon possesses a unique combination of physical Batteries Planes and chemical properties that make
Slide 8: Trade barriers affecting markets
General markets Trade barriers affecting markets ▪ EU implemented safeguard measures for ferrosilicon and foundry alloys on 19 November 2025. Silicon not included ▪ Measures aimed at raising prices and protecting internal production within EU. Norway and Iceland not exempted ▪ Specific quotas per pr
Slide 9: Continued weak demand, but safeguard supporting price recovery for ferrosilicon
Silicon and ferrosilicon markets Continued weak demand, but safeguard supporting price recovery for ferrosilicon CRU silicon 99 price EU and US (EUR/ mt ) ▪ In EU, the silicon reference prices remained low in the fourth quarter, influenced by low import prices and weak demand ▪ Ferrosilicon prices i
Slide 10: Anti-involution measures driving price recovery in China
Silicones market Anti -involution measures driving price recovery in China ▪ DMC prices in China have increased approx. 23% from CNY 11 050 DMC reference price China (CNY/mt) per tonne by the end of third quarter to CNY 13 600 by the end of fourth quarter ▪ The price increase was a result of Chinese
Slide 11: Increased spending on infrastructure and defence drive metals demand
General markets Increased spending on infrastructure and defence drive metals demand Use of silicon and ferrosilicon in infrastructure and defence ▪ Germany’s BEUR 500 infrastructure package is approved and in the early stages of implementation, focusing on rail, energy, ▪ Silicon is as an alloying
Slide 12: Third quarter highlights
3Q - highlights Third quarter highlights - Results supported by strong operational performance and cost improvements ▪ Sales prices remain at low levels, but results supported by strong operational performance and cost improvements ▪ Silicon Products impacted by low silicon and ferrosilicon prices,
Slide 13: Delivering good results over the business cycle
Delivering good results over the business cycle Elkem delivering on its financial targets over the cycle ✓ Operating income CAGR 8% vs target of > 5% per year ✓ EBITDA margin 17% vs target of 15 - 20% Excluding Silicones , Elkem’s results would have been ✓ Operating income CAGR 11% from 2020 to 2024
Slide 14: Why invest in Elkem?
Creating value through profitable & sustainable growth Why invest in Elkem? Global leader in Leading cost and Geographically Supplier of critical Strong commitment advanced silicon - market positions, diverse and resilient materials to the green to delivering attractive based materials delivering st
Slide 15: Important notice
Important notice Any statement, estimate or projection included in this presentation (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 (f
Slide 16: Delivering your potential
« Elkem Delivering your potential