REC Silicon

Earnings Release • May 12, 2020

REC Silicon - First quarter 2020 results

REC Silicon - First quarter 2020 results

Oslo, Norway - May 12, 2020: REC Silicon ASA (REC Silicon) reported first

quarter 2020 revenues of USD 24.7 million and EBITDA of USD 1.0 million.

REC Silicon reported a cash balance of USD 30.2 million on March 31, 2020.

Silicon gas sales volumes for the first quarter were 730 MT compared to guidance

of 850 MT. Average silane gas prices remained relatively stable compared to the

fourth quarter 2020.

Polysilicon sales volumes for the quarter were 89 MT and inventory increased by

151 MT.

For more information, please see the attached first quarter 2020 report and

presentation.

The company will host conference call to present the results at 8:00am CEST.

Following the presentation, it will be opened for questions from the audience.

The presentation will be in English.

To join this event, use one of the following access numbers. Please make sure to

dial in 5-10 minutes prior to the scheduled start time.

Norway: +47 2195 6342

Sweden: 46 8 1241 0952

United Kingdom: +44 203 769 6819

United States: +1 646 787 0157

United States/Canada (Dial-in Tollfree/Freephone): 800 204 4368

Participant code for all countries: 908834

For further information, please contact:

James A. May II, Chief Financial Officer

Phone: +1 509 989 1023

Email: james.may@recsilicon.com

Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

Email: nils.kjerstad@crux.no

About REC Silicon

REC Silicon is a leading producer of advanced silicon materials, delivering

high-purity polysilicon and silicon gas to the solar and electronics industries

worldwide. We combine over 30 years of experience and proprietary technology

with the needs of our customers, with annual production capacity of more than

20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on

the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Fornebu,

Norway.

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

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.