REC Silicon Results of Qualification Test

17 Dec 2024 20:10 CET

Moses Lake, Washington USA December 17, 2024: REC Silicon ASA ("REC Silicon"
or the "Company") has now received the results from the qualification test for
its ultra-high purity polysilicon from the recently restarted silane-based
high-purity granular production facility in Moses Lake, Washington.

The Company was notified yesterday by its customer of the results from the
qualification test that was completed earlier this month through a third-party
testing partner. Unfortunately, due to the impurity issues in the
qualification material sent, the customer deemed the test to be unsuccessful.
This was due to lower-than-expected levels of crystallization and the ingot
yield observed in the testing runs, which the customer deemed not to be
acceptable for their production process at this stage. The Company is in
discussions with its customer to determine the feasibility of another test
which will be contingent upon the Company making improvements in the
manufacturing process at Moses Lake. The timing and likelihood of achieving
the necessary improvements is uncertain at this point in time.

As a result of the unsuccessful qualification test, REC Silicon is reviewing
multiple strategic options. This may include additional operational
adjustments, contractual re-negotiations, and other mitigative actions.

REC Silicon continues to work on additional financing to ensure the Company's
financial flexibility. The Company will provide additional operational and
financing details when such information becomes available.

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 global leader in silane based high purity silicon materials.
We combine 40 years of experience and best-in-class proprietary technology to
deliver on customer expectations. Our two U.S. based plants have a combined
production capacity of more than 30,000 MT of high purity silane gas. Our
Signature Silane® based products are used in everyday quality of life
technologies, emerging technologies, cutting edge power and memory devices,
high-voltage transmission, as well as renewables. REC Silicon is headquartered
in Lysaker, Norway and listed on the Oslo stock exchange under the ticker:
RECSI.

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

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2024-12-17 20:10 CET.

More information:
Access the news on Oslo Bors NewsWeb site

635010_REC Silicon Results of Qualification Test.pdf