REC Silicon - Capital/Financing Update 2025

REC Silicon - Announces the Close of a USD 13.0 million Short Term Loan with Anchor AS

Lysaker, Norway - November 14, 2025 - REC Silicon ASA ("REC Silicon")

announced today that it has entered into an unsecured USD 13.0 million

short-term loan agreement with Anchor AS to fund the company's urgent

operational capital needs.

Anchor AS is a Norwegian subsidiary of REC Silicon's two largest shareholders:

Hanwha Solutions and Hanwha Corporation.

The terms and conditions of this loan are identical to those of the USD 7.0

million loan between REC Silicon ASA and Anchor AS, which closed on October

13, 2025. The maturity date is May 14, 2026.

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

other anticipated operating cash flow requirements going forward 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, none of which have

yet been finalized or guaranteed.

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

2025-11-14 16:33 CET.

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