REC Silicon

REC Silicon - China's Extension of U.S. Solar-Grade Polysilicon Duties and the Phase 1 Trade Agreement

Fornebu, Norway - January 20, 2020: On January 19, 2020 the Ministry of Commerce

of the People's Republic of China (MOFCOM) announced that it would extend

tariffs on imports of solar-grade polysilicon from the United States and South

Korea for a further 5 years, effective from January 20, 2020. This announcement

was anticipated by the Government of the United States (USG) and REC Silicon, as

it was made by MOFCOM pursuant to an on-going review procedure with a pre-

determined schedule.

We do not expect this announcement from MOFCOM to affect or change China's

commitment to purchase solar-grade polysilicon from the United States under the

terms of the Phase 1 Trade Agreement between the USG and the Government of China

(China), that was concluded on January 15, 2020.

REC Silicon once again thanks the USG, specifically President Trump and U.S.

Trade Representative Ambassador Lighthizer and his negotiating team at the

Office of the United States Trade Representative (USTR), for prioritizing the

interests of the U.S. polysilicon industry in this important trade agreement,

and securing this purchases commitment from China. REC Silicon looks forward to

working closely with USTR in relation to the execution of the Phase 1 Trade

Agreement and the fulfillment of China's solar-grade polysilicon purchases

commitment.

No decision about a re-start of the Moses Lake facility has been made at this

stage. REC Silicon will assess the market for solar grade polysilicon in light

of the Phase 1 Trade Agreement, and will keep investors updated on this issue.

There is no change to previous guidance issued by REC Silicon.

For further information, please contact:

Francine Sullivan, Vice President Business Development

Phone: +1 509 750 1133

Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

About REC Silicon REC Silicon ASA is a leading producer of advanced silicon

materials, supplying high-purity polysilicon and silicon gases to the solar and

electronics industries worldwide, with over 30 years' experience and best-in-

class proprietary technology. REC's production facilities are comprised of two

U.S.- based silicon materials plants in Moses Lake, Wash., and Butte, Mont. REC

Silicon's corporate headquarters is in Fornebu, Norway.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

AI Terminal