Aker Horizons: Sale of shares in REC Silicon ASA to Hanwha

"Today's announcement is a major step in rebuilding the US solar supply chain. Hanwha is a leading solar PV manufacturer globally, operating the largest module production plant in the US, while REC Silicon is the polysilicon producer with the lowest CO2 footprint worldwide. Hanwha has the right expertise to contribute to the successful reopening of Moses Lake," said Kristian Røkke, Chief Executive Officer of Aker Horizons. "Aker Horizons has been an active owner in REC Silicon and has contributed to the strengthening of the company's financial position, as well as the development of partnerships within battery materials and solar PV. It has been a pleasure working with the people of REC Silicon and witnessing their extensive technical and industry knowledge."

"Today's announcement is a major step in rebuilding the US solar supply chain. Hanwha is a leading solar PV manufacturer globally, operating the largest module production plant in the US, while REC Silicon is the polysilicon producer with the lowest CO2 footprint worldwide. Hanwha has the right expertise to contribute to the successful reopening of Moses Lake," said Kristian Røkke, Chief Executive Officer of Aker Horizons. "Aker Horizons has been an active owner in REC Silicon and has contributed to the strengthening of the company's financial position, as well as the development of partnerships within battery materials and solar PV. It has been a pleasure working with the people of REC Silicon and witnessing their extensive technical and industry knowledge."

Completion of the transactions is expected to occur before the annual general meeting in REC Silicon scheduled in May 2022, subject to a customary anti-trust filing in the US. Kristian Røkke will step down as chairman of the board of REC Silicon in connection with completion of the transaction. An extraordinary general meeting in REC Silicon will be called for to appoint new board members.

Advisors
Advokatfirmaet BAHR is acting as legal counsel to Aker Horizons.

CONTACT:

Ivar Simensen, Communications, Tel: +47 46 40 23 17, [email protected]

Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, [email protected]

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