REC Silicon

REC Silicon Extension of USD 30 million Facility Loan on Identical Terms

Moses Lake, Washington USA -- June 14, 2024: REC Silicon Inc, a fully owned

subsidiary of REC Silicon ASA (the "Company") has extended its USD 30 million

facility loan from Standard Chartered Bank in New York on identical terms as

the existing facility loan.

The facility is fully guaranteed by REC Silicon's largest shareholder Hanwha

Solutions and will mature on June 13, 2025.

"This facility is part of the overall financing plan for our operations and

the ongoing restart and expansion initiatives. 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 metals, 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. The

reopening of the Moses Lake operations will enable REC Silicon to provide

polysilicon to an emerging US solar PV value chain and potentially supply

silane gas as anode material to a fast-growing EV battery industry in the US.

Contacts

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Jack Yun

CFO

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 has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 19 no. 3. The information was submitted for publication

at 2024-06-14 18:35 CEST.

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