REC Silicon - Issue of Tranche 2 shares

Reference is made to announcements of 15 October 2020 concerning the issue of 92,592,592 new shares in REC Silicon ASA (the "Company"), divided between 27,982,000 shares in a Tranche 1 and 64,610,592 shares in a Tranche 2. The Tranche 1 shares were issued pursuant to the Company's announcement on 19 October 2020. It is hereby announced that the Board of Directors of the Company has resolved to issue the Tranche 2 shares.

Upon subsequent completion of the registration of the new shares in the Norwegian Register of Business Enterprises, the new share capital of the Company will be NOK 372,412,658, divided into 372,412,658 shares of NOK 1 par value.

For further information, please contact:
James A. May II, Chief Financial Officer
Phone: +1 509 989 1023
Email: james.may@recsilicon.com

Nils O. Kjerstad, IR Contact
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no

About REC Silicon REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine over 30 years of experience and proprietary technology with the needs of our customers, with annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the Company is headquartered in Lysaker, Norway.

For more information, please visit: www.recsilicon.com (http://www.recsilicon.com)

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act