REC Silicon

REC Silicon - Shareholder request for investigation

REC Silicon ASA ("REC" or the "Company") has received a letter from certain

shareholders representing more than 5% of the Company's share capital (the

"Requesting Shareholders"). As a direct quote from the letter, the Requesting

Shareholders request that the following be considered and voted on by the

Company's shareholder meeting:

"Given the dramatic consequences the termination of the "Full-form supply

agreement" between REC Silicon ASA's wholly owned subsidiary, REC Grade

Silicon LLC and Hanwha Solutions Corporation's wholly owned subsidiary, Hanwha

Q Cells Georgia Inc. (Hanwha") in January 2025 have for REC Silicon ASA's

financial position, the terms and conditions thereof and the circumstances

which lead to Hanwha's unilateral termination thereof shall be investigated

pursuant to the rules set out in Chapter 4, VII of the PLC Act".

The letter further specifies certain concrete issues to be included in and be

subject to an investigation. The Company is confident that all events and

actions referenced in the shareholder letter were conducted in the best

interests of all shareholders, the Company, and in accordance with applicable

laws and regulations, however, the Company is bringing the request for an

investigation to the shareholders as required by law.

The 2025 Annual General Meeting ("AGM") is scheduled to be held on June 25

2025, and the Requesting Shareholders have agreed that the investigation

proposal should be addressed at the AGM, rather than in an extraordinary

shareholders meeting for the sole purpose of the investigation proposal. The

proposal for investigation will thus in its entirety be placed on the agenda

for the AGM, for the shareholders' consideration and vote.

Contacts

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Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

About REC Silicon

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

high-purity silicon gases to the solar and electronics industries worldwide.

We combine over 40 years of experience and proprietary technology with the

needs of our customers. Listed on the Oslo Stock Exchange (ticker: RECSI), the

Company is headquartered in Lysaker, Norway.

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

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