REC Silicon

Capital/Financing Update • Nov 4, 2024

REC Silicon Closing Short-Term Bridge Loan of USD 25 Million

REC Silicon Closing Short-Term Bridge Loan of USD 25 Million

Moses Lake, Washington USA - November 4, 2024: REC Silicon ASA (REC Silicon)

announced that its wholly owned subsidiary, REC Silicon Inc, and REC Silicon

Inc's wholly owned subsidiaries have entered into a USD 25 million short-term

loan with Hanwha International LLC.

This loan is for the purpose of supporting the capital needs of REC Silicon

until shipments of ultra-high purity FBR product commence.

The commercial terms of the loan are in line with the previously announced

loan with Hanwha International LLC as well as the existing facility loan

agreements. The maturity date for this loan will be February 4, 2025.

REC Silicon and Hanwha International LLC have also agreed to extend the

maturity date of the existing loan that was announced on August 2, 2024, until

February 2, 2025.

Hanwha International LLC is a subsidiary of the company's two largest

shareholders Hanwha Solutions and Hanwha Corporation.

As a leading producer of silane gases and silicon materials, REC Silicon is

well positioned to capitalize on the global megatrends of digitalization,

energy transition, and energy storage. The Company has developed a strong

market position in the Semiconductor industry based on its operations in

Butte, Montana. The successful restart of Moses Lake operations will enable

REC Silicon to provide ultra-high purity polysilicon to the US solar value

chain currently under construction while the Company also expects to supply

silane gas in significant volumes for anode materials to a fast-growing

battery industry.

Contacts

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Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

Email: nils.kjerstad@recsilicon.com

About REC Silicon

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REC Silicon is a global leader in silane based high purity silicon materials.

We combine 40 years of experience and best-in-class proprietary technology to

deliver on customer expectations. Our two U.S. based plants have a combined

production capacity of more than 30,000 MT of high purity silane gas. Our

Signature Silane® based products are used in everyday quality of life

technologies, emerging technologies, cutting edge power and memory devices,

high-voltage transmission, as well as renewables. REC Silicon is headquartered

in Lysaker, Norway and listed on the Oslo stock exchange under the ticker:

RECSI.

For more information, go to: www.recsilicon.com

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2024-11-04 21:12 CET.