REC Silicon

REC Silicon - Additional USD 20 million Facility Loan on Identical Terms

Moses Lake, Washington USA - August 16, 2024: REC Silicon Inc, a fully owned

subsidiary of REC Silicon ASA (the "Company") has entered into an additional

USD 20 million facility loan from Standard Chartered Bank in New York through

an amendment to the existing facility loan of USD 30 million.

This additional facility loan is fully guaranteed by REC Silicon's largest

shareholder Hanwha Solutions and will mature on June 13, 2025, the same date

as the existing facility loan.

"This new loan will strengthen the Company's liquidity position and help

bridge the financing gap until our first product shipment from Moses Lake

which is expected by the middle of September. We are pleased to be able to

secure funding at attractive terms with the support from our largest

shareholder", says CEO Kurt Levens.

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

About Us

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

We combine 40 years 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

2024-08-16 17:45 CEST.

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