REC Silicon — Earnings Release 2025

Feb 12, 2026

REC Silicon - Fourth Quarter 2025 Results

REC Silicon - Fourth Quarter 2025 Results

Oslo, Norway - February 12, 2026: REC Silicon ASA (REC Silicon or the Company)

reported fourth quarter 2025 revenues from continuing operations of USD 20.1

million compared to USD 16.9 million in the third quarter of 2025. The Company

also reported an EBITDA loss from continuing operations of USD 3.7 million

compared to a loss of USD 7.2 million in the prior quarter.

EBITDA from the Butte segment was USD 1.6 million for the fourth quarter of

2025 compared to USD 0.1 million for the third quarter of 2025. Silicon gas

sales volumes for the fourth quarter totaled 540 MT compared to 524 MT during

the third quarter of 2025. Revenues increased by 19.3 percent and the sales

price of silicon gas increased by 17.6 percent during the fourth quarter due

primarily to product mix compared to the third quarter.

REC Silicon reported cash balances of USD 7.3 million on December 31, 2025,

compared to USD 10.0 million on September 30, 2025. In the fourth quarter, net

cash inflows from financing activities totaled USD 17.0 million primarily from

new loans amounting to USD 20.0 million.

"REC Silicon appreciates the continued support of the Company's largest

shareholder Anchor AS, as shown by its willingness to fully underwrite the

rights issue that was announced earlier this week. This fully underwritten

rights issue comes at a critical point to help stabilize the liquidity

position of the Company by reducing some debt and bolstering available cash

for operations during the transition to a silicon gases-focused company.

Operationally, we continue our focus on cost optimization and revenue

improvement" said Kurt Levens, CEO of REC Silicon.

For more information, please see the attached fourth quarter 2025 report and

presentation.

The Company will host a digital presentation of the results today at 8:00 a.m.

CET. The presentation can be accessed at www.recsilicon.com or with the

following link: https://qcnl.tv/p/6lrFj_f7uOoCJEbznMwzvA

Following the presentation, it will be opened for questions from the audience.

Webcast participants need to register to post questions.

The presentation and the following Q&A session will be in English.

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 2026-02-12 06:30 CET.