REC Silicon

REC Silicon Update of Restart and Offtake Activities in Moses Lake

Moses Lake, Washington USA January 14, 2023. REC Silicon ASA (the "Company")

desires to provide an update on its restart activities for its FBR polysilicon

production facility located in Moses Lake, Washington.

Restart activities are progressing well and according to schedule generally

despite the ongoing challenges experienced globally from supply chain

disruptions and other impacts such as inflationary pressures.

The Company is pleased with the recent announcement that Qcells will invest

more than USD 2.5 billion to build a complete solar supply chain in the United

States. Qcells is a subsidiary company of Hanwha Solutions which controls,

together with its affiliate Hanwha Corporation, 33.3% of the shares in REC

Silicon ASA.

As previously disclosed, REC Silicon has been in negotiations with Hanwha

Solutions towards reaching an offtake agreement for all FBR polysilicon

production from the Moses Lake facility. Discussions on key commercial terms

for the FBR offtake continue and are progressing well towards completion.

REC Silicon will provide additional details on the key commercial terms as

soon as the negotiations are completed.

Contacts

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Nils O. Kjerstad

IR Contact

Phone: +47 9135 6659

About Us

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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 subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2023-01-14 09:10 CET.

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