REC Silicon

REC Silicon - Announces the Close of a USD 6.5 million Short Term Loan with Hanwha International LLC

Moses Lake, Washington, USA - July 18, 2025 - Reference is made to the stock

exchange announcement by REC Silicon ASA ("REC") on 16 July 2025 regarding

updates on the Company's financial situation and the discussions with the

Hanwha Group.

REC Silicon Inc, a wholly owned subsidiary of REC Silicon ASA ("REC Silicon"),

announced today that it has entered into a USD 6.5 million short-term loan

agreement with Hanwha International LLC to fund the company's urgent

operational capital needs to continue its operations and cover its expenses

through July and into the first week of August.

Hanwha International LLC is a subsidiary of Hanwha Solutions and Hanwha

Corporation, which together are REC Silicon's largest shareholder.

This loan was an addition to the existing USD 90 million short-term loan as

amended, which closed on January 24, 2025. The maturity date of the amended

loan remains January 24, 2026, consistent with the original loan and all other

terms remain the same.

REC Silicon does not have sufficient available cash to meet debt service and

other anticipated operating cash flow requirements for this year without the

continued support of the major shareholder, Hanwha, or additional sources of

capital. Therefore, it will soon require additional financing beyond this loan

either from Hanwha or from other sources of capital.

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

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2025-07-18 19:41 CEST.

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