REC Silicon – US -and China's Long-Standing Trade Dispute Force Further Lay-Offs

The remaining workforce in Moses Lake will allow REC Silicon to restart its FBR facility if further trade negotiations result in a re-opening of polysilicon markets in China. REC Silicon's facility in Butte, Montana is not affected by the workforce reduction executed this week. Restructuring costs associated with the workforce reduction this week remain near estimates previously provided by REC Silicon.REC Silicon is grateful to the USG, specifically U.S. Trade Representative Ambassador...

The remaining workforce in Moses Lake will allow REC Silicon to restart its FBR facility if further trade negotiations result in a re-opening of polysilicon markets in China. REC Silicon's facility in Butte, Montana is not affected by the workforce reduction executed this week. Restructuring costs associated with the workforce reduction this week remain near estimates previously provided by REC Silicon.

REC Silicon is grateful to the USG, specifically U.S. Trade Representative Ambassador Lighthizer and his team, for prioritizing the interests of the U.S. polysilicon industry in its on-going trade discussions with China. REC Silicon, however, urges the USG to include polysilicon on the list of products to be purchased by the Government of China in the short-run while the negotiations continue and to continue to push for restoration of open, fair, and unrestricted access for sales of U.S. polysilicon in the Chinese market. If REC Silicon is able to regain access to the Chinese polysilicon market in the near term, it will re-hire its highly skilled employees and re-start manufacturing immediately, ensuring that the United States retains its capabilities to produce this critical input to technologies of strategic importance to U.S. defense and commercial interests.

For further information, please contact:

Francine Sullivan, Vice President Business Development
Phone: +1 509 750 1133
Email: [email protected]

Nils O. Kjerstad
IR Contact
Phone: +47 9135 6659
Email: [email protected]

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 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 Fornebu, Norway.

For more information, go to: www.recsilicon.com.

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