REC Silicon - First quarter 2020 results

Oslo, Norway – May 12, 2020: REC Silicon ASA (REC Silicon) reported first quarter 2020 revenues of USD 24.7 million and EBITDA of USD 1.0 million.

REC Silicon reported a cash balance of USD 30.2 million on March 31, 2020.

Silicon gas sales volumes for the first quarter were 730 MT compared to guidance of 850 MT. Average silane gas prices remained relatively stable compared to the fourth quarter 2020.

Polysilicon sales volumes for the quarter were 89 MT and inventory increased by 151 MT.

For more information, please see the attached first quarter 2020 report and presentation.

The company will host conference call to present the results at 8:00am CEST. Following the presentation, it will be opened for questions from the audience.

The presentation will be in English.

To join this event, use one of the following access numbers. Please make sure to dial in 5-10 minutes prior to the scheduled start time.

Norway: [phone]
Sweden: 46 8 1241 0952
United Kingdom: [phone]
United States: [phone]
United States/Canada (Dial-in Tollfree/Freephone): 800 204 4368

Participant code for all countries: 908834

For further information, please contact:
James A. May II, Chief Financial Officer
Phone: [phone]
Email: [e-mail]

Nils O. Kjerstad
IR Contact
Phone: [phone]
Email: [e-mail]

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, go to: www.recsilicon.com

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

Attachments

• REC Silicon Q1 2020 report
• REC Silicon Q1 2020 presentation