REC Silicon - Extension of USD 50 million Facility Loan

16 Jun 2025 20:05 CEST

Moses Lake, Washington USA -- June 16, 2025: REC Silicon Inc, a fully owned
subsidiary of REC Silicon ASA ("REC Silicon" or the "Company") has extended
its USD 50 million facility loan from Standard Chartered Bank in New York on
identical terms as the existing facility loan.

The facility is fully guaranteed by REC Silicon's largest shareholder Hanwha
Solutions and will mature on June 30, 2026.

Moving forward, REC Silicon is focused on increasing sales of its silicon
gases, reducing costs and optimizing production at the Butte facility. REC
Silicon's legacy business is a leading producer of silicon gas and has a
strong market position for silane and specialty gases in the semiconductor,
FPD and solar PV industries. Further, maintaining silane capacity at Moses
Lake in a recoverable mode gives the Company the flexibility to leverage
future customer demand for Silicon Anode or other gases. The Company is
working to capitalize on these industry presences and ultimately return to
profitability.

REC Silicon does not have sufficient available cash to meet debt service and
other anticipated operating cash flow requirements for this year without the
continued support of the major shareholder, Hanwha, or additional sources of
capital. Therefore, it will soon require additional financing beyond this loan
extension either from Hanwha or from other sources of capital, none which have
yet been finalized or guaranteed.

As previously disclosed, REC Silicon continues to evaluate and look for other
financing options and mitigative actions. However, the timing and feasibility
of such options are uncertain.

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 at
2025-06-16 20:05 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

649335_REC Silicon - Extension of USD 50 million Facility Loan.pdf