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

Moses Lake, Washington USA – November 29, 2023: REC Silicon Pte. Ltd, a fully owned subsidiary of REC Silicon ASA ("REC Silicon"), references the stock exchange release dated 19 September and 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").

The sale process is ongoing and is now entering a phase for governmental review of the proposed transaction. The governmental review is mandatory and one of the final steps remaining to complete the sale process, however, there have been no changes to information previously disclosed.
The company will provide further updates on the process as and when appropriate.