Lysaker, Norway - November 14, 2025 - REC Silicon ASA (“REC Silicon”) announced today that it has entered into an unsecured USD 13.0 million short-term loan agreement with Anchor AS to fund the company’s urgent operational capital needs.

Anchor AS is a Norwegian subsidiary of REC Silicon’s two largest shareholders: Hanwha Solutions and Hanwha Corporation.

The terms and conditions of this loan are identical to those of the USD 7.0 million loan between REC Silicon ASA and Anchor AS, which closed on October 13, 2025. The maturity date is May 14, 2026.

REC Silicon does not have sufficient available cash to meet debt service and other anticipated operating cash flow requirements going forward without the continued support of the major shareholder, Hanwha, or additional sources of capital. Therefore, it will soon require additional financing beyond this loan, either from Hanwha or from other sources of capital, none of which have yet been finalized or guaranteed.