REC Silicon — Capital/Financing Update 2026

Feb 19, 2026

REC SILICON - KEY INFORMATION RELATING TO RIGHTS ISSUE

REC SILICON - KEY INFORMATION RELATING TO RIGHTS ISSUE

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE

PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

Reference is made to the stock exchange announcement made by REC Silicon ASA

("REC " or the "Company") on 9 February 2026 regarding the fully underwritten

rights issue to raise gross proceeds of NOK 972.6 million (the "Rights

Issue").

Key information relating to the Rights Issue based on the current plan is set

out below.

Date on which the terms and conditions of the preferential rights issue were

announced: 9 February 2026 and 19 February 2026

Last day of trading in the shares including subscription rights: 12 March 2026

Ex-date: 13 March 2026

Record Date: 16 March 2026

Date of approval: 12 March 2026

Maximum number of new shares: 4,078,000,000

Subscription price: NOK 0.2385

Ratio preferential rights: Each existing shareholder will be granted approx.

9.695 subscription rights for every one (1) existing share registered as held

by such existing shareholder as of the record date, rounded down to the

nearest whole subscription right.

Subscription ratio: 1:1

Manager: Arctic Securities AS

Will the rights be listed: The Company will apply for listing of the

preferential rights on Euronext Oslo Børs.

ISIN for the preferential rights: To be announced when clarified

Other information: The Rights Issue is subject to (i) approval by the

extraordinary general meeting (the "EGM") and (ii) publication of a prospectus

to be approved by the Norwegian Financial Supervisory Authority.

Further information regarding the Rights Issue will be provided in the notice

of the EGM and the prospectus.

This information is published in accordance with the requirements of the

Continuing Obligations.

IMPORTANT INFORMATION: This announcement does not constitute an offer of

securities for sale or a solicitation of an offer to purchase securities of

the Company in the United States or any other jurisdiction. Copies of this

document may not be sent to jurisdictions, or distributed in or sent from

jurisdictions, in which such action is barred or prohibited by law. The

securities of the Company may not be offered or sold in the United States

absent registration or an exemption from registration under the U.S.

Securities Act of 1933, as amended (the "U.S. Securities Act"). The securities

of the Company have not been, and will not be, registered under the U.S.

Securities Act. Any sale in the United States of the securities mentioned in

this communication will be made solely to "qualified institutional buyers" as

defined in Rule 144A under the U.S. Securities Act. No public offering of the

securities will be made in the United States.

Any offering of the securities referred to in this announcement will be made

by means of the Prospectus. This announcement is not a prospectus for the

purposes of Regulation (EU) 2017/1129 of the European Parliament and of the

Council of 14 June 2017 on prospectuses to be published when securities are

offered to the public or admitted to trading on a regulated market, and

repealing Directive 2003/71/EC (as amended) as implemented in any EEA Member

State (the "Prospectus Regulation"). Investors should not subscribe for any

securities referred to in this announcement except on the basis of information

contained in the Prospectus. Copies of the Prospectus will, following

publication, be available from the Company's registered office and, subject to

certain exceptions, on the websites of Arctic Securities AS (the "Manager").

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer

without an approved prospectus in such EEA Member State. In the United

Kingdom, this communication is only addressed to and is only directed at

Qualified Investors who (i) are investment professionals falling within

Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling

within Article 49(2)(a) to (d) of the Order (high net worth companies,

unincorporated associations, etc.) (all such persons together being referred

to as "Relevant Persons"). These materials are directed only at Relevant

Persons and must not be acted on or relied on by persons who are not Relevant

Persons. Any investment or investment activity to which this announcement

relates is available only to Relevant Persons and will be engaged in only with

Relevant Persons. Persons distributing this communication must satisfy

themselves that it is lawful to do so.

This document is not for publication or distribution in, directly or

indirectly, the United States, Canada, Australia, the Hong Kong Special

Administrative Region Of The People's Republic Of China or Japan or Any other

jurisdiction in which such release, publication or distribution would be

unlawful, and it does not constitute an offer or invitation to subscribe for

or purchase any securities in such countries or in any other jurisdiction. In

particular, the document and the information contained herein should not be

distributed or otherwise transmitted into the United States or to publications

with a general circulation in the United States of America.

The Manager is acting for the Company in connection with the Rights Issue and

no one else and will not be responsible to anyone other than the Company for

providing the protections afforded to their respective clients or for

providing advice in relation to the Rights Issue or any transaction or

arrangement referred to in this announcement.

Matters discussed in this announcement may constitute forward-looking

statements. Forward looking statements are statements that are not historical

facts and may be identified by words such as "anticipate", "believe",

"continue", "estimate", "expect", "intends", "may", "should", "will" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions.

Although the Company believes that these assumptions were reasonable when

made, these assumptions are inherently subject to significant known and

unknown risks, uncertainties, contingencies and other important factors which

are difficult or impossible to predict and are beyond its control. Such risks,

uncertainties, contingencies and other important factors could cause actual

events to differ materially from the expectations expressed or implied in this

release by such forward-looking statements. The information, opinions and

forward-looking statements contained in this announcement speak only as at its

date and are subject to change without notice. This announcement is made by

and is the responsibility of, the Company. Neither the Manager nor any of its

respective affiliates makes any representation as to the accuracy or

completeness of this announcement and none of them accepts any responsibility

for the contents of this announcement or any matters referred to herein.

This announcement is for information purposes only and is not to be relied

upon in substitution for the exercise of independent judgment. It is not

intended as investment advice and under no circumstances is it to be used or

considered as an offer to sell, or a solicitation of an offer to buy any

securities or a recommendation to buy or sell any securities of the Company.

No reliance may be placed for any purpose on the information contained in this

announcement or its accuracy, fairness or completeness. Neither the Manager

nor any of its respective affiliates accepts any liability arising from the

use of this announcement.

Contacts

------------------------------------------------------------------------------

Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

Email: nils.kjerstad@recsilicon.com

About REC Silicon

------------------------------------------------------------------------------

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 2026-02-19 17:57 CET.