REC Silicon – China's Extension of U.S. Solar-Grade Polysilicon Duties and the Phase 1 Trade Agreement

We do not expect this announcement from MOFCOM to affect or change China's commitment to purchase solar-grade polysilicon from the United States under the terms of the Phase 1 Trade Agreement between the USG and the Government of China (China), that was concluded on January 15, 2020.REC Silicon once again thanks the USG, specifically President Trump and U.S. Trade Representative Ambassador Lighthizer and his negotiating team at the Office of the United States Trade Representative (USTR),...

We do not expect this announcement from MOFCOM to affect or change China's commitment to purchase solar-grade polysilicon from the United States under the terms of the Phase 1 Trade Agreement between the USG and the Government of China (China), that was concluded on January 15, 2020.

REC Silicon once again thanks the USG, specifically President Trump and U.S. Trade Representative Ambassador Lighthizer and his negotiating team at the Office of the United States Trade Representative (USTR), for prioritizing the interests of the U.S. polysilicon industry in this important trade agreement, and securing this purchases commitment from China. REC Silicon looks forward to working closely with USTR in relation to the execution of the Phase 1 Trade Agreement and the fulfillment of China's solar-grade polysilicon purchases commitment.

No decision about a re-start of the Moses Lake facility has been made at this stage. REC Silicon will assess the market for solar grade polysilicon in light of the Phase 1 Trade Agreement, and will keep investors updated on this issue.

There is no change to previous guidance issued by REC Silicon.

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 ASA is a leading producer of advanced silicon materials, supplying high-purity polysilicon and silicon gases to the solar and electronics industries worldwide, with over 30 years' experience and best-in-class proprietary technology. REC's production facilities are comprised of two U.S.- based silicon materials plants in Moses Lake, Wash., and Butte, Mont. REC Silicon's corporate headquarters is in Fornebu, Norway.

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