REC Silicon — Share Issue/Capital Change 2026

Mar 12, 2026

REC Silicon ASA - Fully underwritten rights issue approved by the Extraordinary General Meeting

REC Silicon ASA - Fully underwritten rights issue approved by the Extraordinary General Meeting

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE

PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT

Reference is made to the stock exchange announcement by REC Silicon ASA (the

"Company") on 9 February 2026 and regarding the fully underwritten rights

issue of 4,078,000,000 new shares (the "Offer Shares") in the Company at a

subscription price of NOK 0.2385 per new share (the "Subscription Price")

raising gross proceeds of NOK 972.6 million (the "Rights Issue"). Reference is

further made to the notice of extraordinary general meeting ("EGM") of 19

February 2026 to approve the Rights Issue, as well as a proposal to decrease

the share capital by reducing the nominal value of the shares.

The EGM has today approved all items as proposed by the board of directors,

including the Rights Issue and the share capital reduction. The proposal to

elect Mr Jong Wook Park was also approved, and the board hence consists of

Jong Wook Park (chair), Renate Oberhoffer and Vivian Bertseka.

The minutes from the EGM are attached to this announcement.

The Rights Issue will be directed towards shareholders of the Company as of 12

March 2026, as registered in the VPS on 16 March 2026 (the "Record Date"), who

are not resident in a jurisdiction where such offering would be unlawful or

would (in jurisdictions other than Norway) require any prospectus, filing,

registration or similar action (the "Eligible Shareholders"). Further

information regarding the Rights Issue, including subscription procedures,

will be set out in the prospectus for the Rights Issue which will be made

available at ahead of the subscription period.

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 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 2026-03-12 14:09 CET.