REC Silicon – Moses Lake re-start update

Moses Lake, Washington USA – March 25, 2024: REC Silicon ASA (“REC Silicon” or the “Company”) provides an operational update for the recently restarted silane-based high-purity granular production facility in Moses Lake, Washington.

The ramp up activities of the Moses Lake production facility are progressing. The production of high purity granular polysilicon continues to increase in line with our expectations and the silane unit is operating well. The Company maintains its ambition to gradually ramp up production to full capacity by the end of 2024.

The Company has previously indicated a first shipment of product by the end of the first quarter 2024. Minor delays in the completion of the new postproduction treatment, packaging and handling lines have compressed the timeline for required testing and optimization and the Company now anticipates that the first shipment will occur in early Q2 2024.

REC Silicon continues to look for opportunities to improve the shipment schedule while maintaining its focus on increasing the capacity utilization of the production units.

As a leading producer of silane gases and silicon metals, REC Silicon is well-positioned to capitalize on the global megatrends of digitalization, energy transition, and energy storage. The Company has developed a strong market position in the Semiconductor industry based on its operations in Butte, Montana. The successful restart of Moses Lake operations will enable REC Silicon to provide ultra-high purity polysilicon to the US solar value chain currently under construction while the Company also expects to supply silane gas in significant volumes for anode materials to a fast-growing battery industry.