REC Silicon – Update on the agreement for the sale of Yulin equity interest

Moses Lake, Washington USA – September 19, 2023: REC Silicon Pte. Ltd, a fully owned subsidiary of REC Silicon ASA (“REC Silicon”), references the stock exchange release dated 30 May 2023 regarding the public bidding process involving its 15% equity interest in the Shaanxi Non-Ferrous Tian Hong REC Silicon Materials Co., Ltd joint venture (“Yulin JV”).
 
As previously communicated, the sale process is ongoing consistent with the information announced.  REC Silicon and an identified buyer have made progress; however, additional steps are required and are ongoing before the transaction to divest the 15% equity interest in the Yulin JV is complete.
 
The company will provide further updates as and when appropriate.