REC Silicon - Announces the refinancing of a USD 110.0 million Guaranteed Term Loan with KEB Hana Bank

30 Mar 2026 23:07 CEST

Moses Lake, Washington, USA - March 30, 2026 - REC Silicon ASA ("REC
Silicon"), announced today that it has extended its existing USD 110.0 million
guaranteed term loan agreement with KEB Hana Bank by way of a refinancing loan
with affiliates of KEB Hana Bank on identical terms as the existing loan. The
loan has been fully guaranteed by Hanwha Solutions, a shareholder of Anchor
AS, which is the largest shareholder of REC Silicon.

The original loan with KEB Hana Bank was entered into on April 3, 2023. The
maturity date of the refinanced loan is March 30, 2027.

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, either from Hanwha or from other sources of capital, none of which have
yet been finalized or guaranteed.

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 2026-03-30 23:07 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

669783_REC Silicon - Announces the refinancing of a USD 110.0 million Guaranteed Term Loan with KEB Hana Bank.pdf