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

12 Mar 2026 14:09 CET

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.

More information:
Access the news on Oslo Bors NewsWeb site

668207_REC Silicon ASA - Fully underwritten rights issue approved by the Extraordinary General Meeting.pdf
668207_REC Silicon Minutes From EGM 12 March 2026.pdf