REC Silicon – Disclosure of large shareholding

REC Silicon ASA

Reference is made to the announcement published by REC Silicon ASA ("REC Silicon" or the "Company") on 23 March 2022 regarding the entry into of a share purchase agreement (the "SPA") between Aker Horizons Holding AS ("Aker Horizons"), Hanwha Solutions Corporation ("Hanwha Solutions") and Hanwha Corporation ("Hanwha Corporation"). Pursuant to the SPA, Hanwha Solutions shall acquire 19,629,197 existing shares in the Company at a share price of NOK 20.00 (the "Transaction").

Following completion of the Transaction, Hanwha Solutions' ownership interest in REC Silicon will be approximately 21.33% through its holding of 89,733,473 shares in the Company.

This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.