REC Silicon - Capital/Financing Update 2026

REC Silicon - Announces the extension of a USD 110 million Short Term Loan with Hanwha International LLC

Moses Lake, Washington, USA - January 26, 2026 - REC Silicon Inc, a wholly

owned subsidiary of REC Silicon ASA ("REC Silicon"), announced today that it

has extended its existing USD 110.0 million short-term loan agreement with

Hanwha International LLC.

Hanwha International LLC is a subsidiary of REC Silicon's two largest

shareholders Hanwha Solutions and Hanwha Corporation.

This loan was extended through a fifth amendment to the existing USD 110.0

million short-term loan, which originally closed on January 24, 2025. It was

subsequently amended for the first time on February 5, 2025, for the second

time on July 18, 2025, for the third time on August 11, 2025, and for the

fourth time on September 3, 2025. The maturity date of the extended loan is

January 24, 2027.

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, 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, through the

agency of the contact persons set out above, at 2026-01-26 08:44 CET.

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