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Fornebu, Norway - 10 April 2019: Reference is made to the notification published 9 April 2019 at 22:51:37 CET (the "Notification") regarding the successful completion of a private placement (the "Private Placement") in REC Silicon ASA ("REC" or the "Company"). This is a clarification regarding the information in the Notification on Umoe AS' shareholding following the Private Placement and the other share capital transactions (save for the contemplated subsequent offering).

Capitalized terms in this notification shall have the meaning ascribed to them in the Notification.

As stated in the Notification, Umoe AS was allocated 58,380,639 Offer Shares in the Private Placement, equal to its pro rate share of the Offer Shares.

Following completion of i) the Private Placement (including settlement thereof, which will be carried out by Umoe AS transferring existing and unencumbered shares in the Company to the subscribers (other than Umoe AS)), ii) the issue of the new class A shares to Umoe AS (in exchange for the gross proceeds received by Umoe AS in connection with settlement of the Private Placement and Umoe AS' own capital contribution connected thereto of approx. NOK 40 million)  and iii) the conversion into ordinary shares of such class A shares, Umoe AS will own 642,221,509 shares in the Company, equivalent to a shareholding of approx. 23%.

Thus, both before and after completion of said transactions (save for the contemplated subsequent offering), Umoe AS' ownership in the Company will remain unchanged and it will continue to hold approx. 23% of the shares and votes of the Company.

The transactions remain subject, inter alia, to approval by the Company's annual general meeting.

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 Fornebu, Norway.

For more information, please visit: www.recsilicon.com

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