REC Silicon

REC Silicon - Announces termination of strategic partnership with Violet Power

Lysaker, Norway - 5 April 2021: The political environment in major markets

including the United States and Europe is highly and increasingly supportive of

diversification of the solar supply chain and development of localized solar

manufacturing to serve domestic demand for solar energy. Buyers of solar are

also increasingly focused on social and sustainability issues and high levels of

embodied carbon within the incumbent solar supply chain which greatly reduce the

ESG benefits of utilizing solar energy in replacement for fossil fuels. REC

Silicon (REC) anticipates additional policy support for alternative supply

chains and sustainably made solar materials and lower carbon solar panels, in

the near term.

REC Silicon advises that the strategic partnership between REC and Violet Power

(VP) announced on October 13, 2020 has been terminated. In line with the

positive momentum in the political environment which creates a better

opportunity for localized value chains than ever before, REC believes it yields

greater positive outcomes for its shareholders to collaborate commercially with

established, proven, active and relevant solar supply chain partners to optimize

the market opportunity for competitive, low-carbon locally produced solar

panels.

REC is also working with companies within the Ultra Low Carbon Solar Alliance, a

group of established and proven solar companies on various policy and

communication initiatives to realize the growing opportunities for a sustainable

solar supply chain.

For further information, please contact:

Francine Sullivan, Vice President Business Development

Phone: +1 509 750 1133

About REC Silicon

REC Silicon is a leading producer of advanced silicon materials, delivering

high-purity polysilicon and silicon gas to the solar and electronics industries

worldwide. We combine over 30 years of experience and proprietary technology

with the needs of our customers, with annual production capacity of more than

20,000 MT of polysilicon from our two US-based manufacturing plants. 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 considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange

release was published by Nils O. Kjerstad, IR Contact, REC Silicon ASA on 5

April at 11:00 pm CEST.

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