REC Silicon - Announces the Close of a USD 7.0 million Short Term Loan with Anchor AS

Lysaker, Norway - October 13, 2025 - REC Silicon ASA (“REC Silicon”) announced today that it has entered into an unsecured USD 7.0 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 of the loan are generally in line with the financial terms of the company’s existing bank and shareholder loan agreements. The maturity date is April 13, 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.