Elle Fanning‘s first arrest came at a Sabrina Carpenter concert. Just an hour before leaving for the show, she received a text: “Getting arrested tonight. Dress accordingly.”

The mock arrest, captured on the big screen for all concertgoers to see, was worth it.

“At least it was a joint arrest,” Fanning laughs, referring to sharing the experience with her sister Dakota. “If it’s going to happen, might as well happen together.”

It’s fitting that Fanning approaches even staged arrests with grace and humor, because in Joachim Trier’s “Sentimental Value,” she plays Rachel Kemp, a Hollywood actress who must learn the hardest lesson of all: how to walk away from something she desperately wants.

The role came as a surprise. “I was a big fan, obviously, of ‘The Worst Person in the World,’ like everyone,” Fanning says. “You think of directors, and you think, ‘Yeah, Joachim, he’s on my bucket list,’ but I didn’t know if there would ever necessarily be a part for me.”

When the script arrived while she was in New York preparing to shoot “Predator: Badlands” in New Zealand, her heart started racing. “I didn’t even necessarily care what the part was. After reading the script, I was in tears. And then I really just related to Rachel Kemp so much. I could just see how I wanted to play her.”

What followed was a logistical ballet worthy of Rachel herself: rehearsals in Oslo, shooting an action franchise in New Zealand, then flying directly to France to film beach scenes with Stellan Skarsgård at the Deauville Film Festival — all while the festival was happening. Two studios worked together to make it possible, a rare feat in Hollywood, Fanning notes.

Rachel Kemp is an actress in crisis, miscast in a prestigious European film but desperate to prove herself. She’s goal-oriented, slightly thirsty, and lost.

“I think you’re right,” Fanning says when asked about drawing from the experiences of actors she’s worked with. “There are definitely feelings that I can relate to, or maybe my younger self has felt. We find her at a place when she’s lost, and a little depressed herself. I don’t think she feels like she has much agency over her career and choices. She feels that she has so much to give, but you have to be given the opportunities or placed in those roles to show that.”

The key, Fanning explains, was balancing Rachel’s Hollywood star quality with her vulnerability. “I was aware that audiences have to believe that she is a big star. So there has to be a bit of that air.” But Rachel is also learning something crucial that she points to: “She’s learning how to say no for the first time and think to be confident in being like, as much as she wants something, she’s walking away for reasons that aren’t like, the director is a monster, or it didn’t pay enough money. She knows it’s a great opportunity, but she knows that it’s just not right. And that can be very hard for actors.”

The role comes at a pivotal moment in Fanning’s career. Having acted since age two — starting with playing young Dakota in “I Am Sam” — she’s navigated the treacherous transition from child star to adult actress with remarkable grace. Unlike many young actors who struggle to shed their childhood image, Fanning credits shows like Hulu’s period comedy “The Great” with helping audiences see her evolution in real time. “I felt myself growing in my power doing that show,” she reflects.

Next on the docket is a long-gestating project. After years of delays, she’s finally preparing to shoot “The Nightingale” with Dakota, their first narrative film together through their production company. Originally scheduled to shoot in March 2020, the pandemic derailed those plans. “We were about to get on a plane to go to Budapest, right before the lockdown,” Fanning recalls. But she sees the silver lining: “Everything happens for a reason, and it’s even better now. We get to produce it now.”

As for those Oscar dreams, Fanning keeps it all in perspective. “I have been acting since I was two years old, so I have felt like I’ve had a lot of firsts, but I also know that I’m still young. It would be a very special thing. Of course, it’s the pinnacle of that, but you have to keep in perspective what matters in the world.”

For now, she’s savoring the response to “Sentimental Value” and the character who taught her — and Rachel — that sometimes the bravest thing an actress can do is walk away.

On this episode of the *Variety *Awards Circuit Podcast, Fanning discusses working on the Norwegian drama, transitioning from a child actor to one of the most exciting young adult performers, and finally getting to produce her first big feature with her sister Dakota.

Also on this episode, Amanda Seyfried, the star of the musical drama “The Testament of Ann Lee” who discusses dancing, singing and if we are getting “Mamma Mia 3.” Listen below!

Mubi

Read excerpts from her interview below, which has been edited and condensed for clarity.

How did you get involved with Joachim Trier and “Sentimental Value”?

I was a big fan of “The Worst Person in the World,” like everyone. You think of directors and you’re like, “Yeah, Joachim, he’s on my bucket list,” but I didn’t know if there would ever be a part for me. It all happened pretty quickly. I had finished “A Complete Unknown” and was about to go to New Zealand to film “Predator: Badlands,” and then I got a call saying Joachim was thinking of me. My heart just started racing. I didn’t even necessarily care what the part was. I wanted to work with him. After reading the script, I was in tears. I related to Rachel Kemp so much. We got on a long Zoom call, and we both had the same ideas about her. From that Zoom he said, “Okay, let’s do this.” But he also said, “I do like doing rehearsals, so you need to come to Oslo.”

That must have been complicated with your “Predator” schedule.

There was some scheduling stuff between “Predator” and “Sentimental Value.” I wanted to do both, which turned out to be kind of meta for the Rachel character. Two studios worked together to make it happen, which I’m so grateful for. Joachim finagled a couple of things too—he wanted to film the beach scenes in Deauville while the festival was happening. So I went to Oslo before New Zealand, we rehearsed for a week, and then I wrapped “Predator,” flew to Paris the next day, drove to Deauville and was on the beach with Stellan the next morning.

What drew you to Rachel Kemp as a character?

There are definitely feelings I can relate to, or that my younger self has felt. We find her when she’s lost and a little depressed. She doesn’t feel she has much agency over her career, and she knows she has so much to give. Every actor wants the meaty role and a director who sees you and digs things out of you. Joachim is an expert at connecting with his actors and creating a safe space. I liked that she isn’t the cliché Hollywood star, but you still need a little of that air so audiences believe she’s famous. She’s also desperate and confused. She hits a real high during the monologue rehearsal—I’ve had that feeling on set—but it’s not captured on screen, which becomes a huge learning experience for her.

Rachel eventually walks away from something she really wants. Have you ever had to do that?

I’m a very instinctual person when I choose projects, and normally the first gut reaction is the one. There have been times where I’ve tried to fit a square peg in a round hole, but your initial reaction is usually right. I’ve never walked away from something as far down the line as she does, but the feeling is universal. I also love how Joachim wrote that she hits that high and then is lost again, and Gustav isn’t giving her the answers. Rachel’s the one who realizes it’s not about his mother—it’s about his daughter. I was so happy I got to have that scene with Renate.

You’ve been acting since you were two. How did you navigate the transition from child actor to adult roles?

People talk a lot about that transition period. I feel lucky because it happened organically for me. “Super Eight” was a big role for me at 12—it was the first time people recognized me for me and not as my sister. “Somewhere” was so important because it wasn’t a kid’s film. Then “The Neon Demon” came along when I was 16. It was my taste, and I really pick the directors. Staying true to that made the transition feel effortless. “The Great” was a big turning point too, because you watch that character grow from a girl into the Empress of Russia. I felt myself growing in my power doing that show. And comedy is harder than drama—it taught me a lot.

You mentioned “A Complete Unknown” earlier. That role felt like a breakthrough.

It was such a tricky role because it was the least “famous” role in the movie. It’s easy to go into a biopic knowing someone’s voice or mythology. But Sylvie was like, “Who’s Sylvie?” It was the first time I saw myself doing the work for the audience to understand someone we don’t know. I wanted to make it as raw as possible.

You and Dakota are finally making “The Nightingale.” What has that process been like?

We were about to get on a plane to Budapest right before the lockdown in March 2020. Crew was already there. But in hindsight, everything happens for a reason. It’s even better now, and we get to produce it. It being a sister story—and us being sisters—is going to add a lot. We’re going in spring. I don’t fear it. I like fear. If you’re not getting nervous, that’s a problem. The book is beloved, and we want to stay true to it. We just have to do it.

How do you and Dakota approach your careers differently?

We kept things separate growing up so we could find our own paths. Now we’re doing things together and have a production company. People who’ve worked with both of us say we work very differently. We’ve never run lines together or gotten involved in each other’s choices. Sometimes I’ll ask her, “Should I do this?” and she’ll ask me too, but we never talk about process. It’s going to have to merge soon—we’ll have to read lines together.

What’s the best directorial note you’ve received?

People say this all the time, but it’s true: I like simple notes. “Faster, angrier, slower.” Not over-analyzing or manipulating. I shut down with that. The best directors give you space but make you feel incredibly seen. Joachim is like that—he’s right next to the camera watching in real time. They’re not micromanaging. They want to be surprised, and I love surprising a director. Nicole Kidman once said, “Don’t ever cut a take.” If you think you messed up, just roll with it. The magic happens in the imperfections. I used to be a perfectionist about that, but I’ve tried to take her advice. It’s the director’s job to cut.

How would it feel to get an Oscar nomination after acting for so long?

I would be really excited, and it would be very moving for me and my family. I’ve been acting since I was two, and there are still firsts. I had never been to the Oscars until last year, when I got to present. Being on that stage was incredible. You feel the Hollywood history and magic of it. I love old movies and old Hollywood stars. It’s the pinnacle. But you have to keep perspective about what matters—the experiences, the steppingstones. What will be, will be. Whatever happens, happens.

Variety’s “Awards Circuit” podcast, hosted by Clayton Davis, Jazz Tangcay, Emily Longeretta, Jenelle Riley and Michael Schneider, who also produces, is your one-stop source for lively conversations about the best in film and television. Each episode, “Awards Circuit” features interviews with top film and TV talent and creatives, discussions and debates about awards races and industry headlines, and much more. Subscribe via Apple Podcasts, Stitcher, Spotify or anywhere you download podcasts.