REC Silicon

REC Silicon - Completion of share capital reduction, conversion of Class A shares, new share capital

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

Fornebu, Norway 3 July 2019: Reference is made to the resolution by the annual

general meeting of REC Silicon ASA on 9 May 2019, whereby it was i.a. resolved

to reduce the share capital through reduction of par value and to issue

25,438,187 new Class A shares to Umoe AS, the Class A shares being convertible

to 254,381,870 ordinary shares upon completion of the share capital reduction.

The share capital reduction and the conversion of the Class A Shares are now

completed and registered with the Norwegian Register of Business Enterprises.

Consequently, the new share capital of the Company is NOK 279,820,065.50 divided

on 2,798,200,655 ordinary shares, each with a par value of NOK 0.10. Umoe AS

owns 642,221,509 shares in REC Silicon ASA, approx. 23% of the outstanding

shares and votes.

For further information, please contact:

James A. May II, Chief Financial Officer

Phone: +1 509 989 1023

Nils O. Kjerstad IR Contact

Phone: +47 9135 6659

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 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: REC), the company is headquartered in Fornebu, Norway.

For more information, go to: www.recsilicon.com.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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