REC Silicon

Earnings Release • Oct 21, 2024

REC Silicon Update Regarding Qualification of Ultra-High Purity Polysilicon

REC Silicon Update Regarding Qualification of Ultra-High Purity Polysilicon

Moses Lake, Washington USA -- October 21, 2024: REC Silicon ASA ("REC Silicon"

or the "Company") provides an operational update concerning the qualification

process for its first shipment of ultra-high purity polysilicon from the

recently restarted silane-based high-purity granular production facility in

Moses Lake, Washington.

As reported in the notification on September 14, 2024, REC Silicon has

provided qualification material of ultra-high purity polysilicon to a third

party for testing. The testing of the material has been delayed due to

unexpected procedures by customs of the country where the testing will be

performed, which in turn has delayed the first shipment of product to our

customer compared to the previous timeline we had communicated. The Company is

working with testing organizations, the third-party testing partner and our

customer to expedite this process in any way possible, although the timing is

still uncertain due to the customs process and the associated timing window of

the third party.

The qualification process must be completed successfully before the customer

accepts the agreed modified specification for our product and the Company is

able to make its first shipment of product. As with any qualification process

of this sort, the outcome of the testing and hence our ability to deliver

product within a certain timeframe, remains a risk.

As a leading producer of silane gases and silicon materials, REC Silicon is

well positioned to capitalize on the global megatrends of digitalization,

energy transition and energy storage. The Company has developed a strong

market position in the Semiconductor industry based on its operations in

Butte, Montana. The successful restart of Moses Lake operations will enable

REC Silicon to provide ultra-high purity polysilicon to the US solar value

chain currently under construction while the Company also expects to supply

silane gas in significant volumes for anode materials to a fast-growing

battery industry.

Contacts

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Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

Email: nils.kjerstad@recsilicon.com

About REC Silicon

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REC Silicon is a global leader in silane based high purity silicon materials.

We combine 40 years of experience and best-in-class proprietary technology to

deliver on customer expectations. Our two U.S. based plants have a combined

production capacity of more than 30,000 MT of high purity silane gas. Our

Signature Silane® based products are used in everyday quality of life

technologies, emerging technologies, cutting edge power and memory devices,

high-voltage transmission, as well as renewables. REC Silicon is headquartered

in Lysaker, Norway and listed on the Oslo stock exchange under the ticker:

RECSI.

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

2024-10-21 07:24 CEST.