REC Silicon Reacts to President Trump's Decision to Impose Tariffs on Solar Modules Imported into the US

Moses Lake, Washington - January 23, 2018: REC Silicon ASA (REC Silicon) strongly believes that a settlement of all solar trade related disputes between the United States and China is the best path forward to preserve, restore and promote U.S. solar manufacturing jobs, reduce the U.S.-China trade deficit as well as promote the health of the broader U.S. solar sector including the burgeoning downstream solar development industry in the United States.

REC Silicon thanks President Trump and the U.S. Trade Representative for their commitment to engage in discussions with a view to resolving the antidumping and countervailing duty measures currently imposed on U.S. polysilicon as part of the Section 201 remedy announced yesterday. REC Silicon urges the U.S. Government to pursue negotiations with the Government of China as soon as possible to conclude an agreement that addresses these solar related trade disputes.

Re-opening the Chinese market to U.S. polysilicon exports is the most important thing that would ensure that high technology solar manufacturing jobs are protected and preserved in the United States.

Tore Torvund, REC Silicon's CEO commented "It is imperative that the U.S. Administration take constructive steps to resolve this prolonged harmful dispute in the near term. In times of rising global polysilicon demand, opportunities for U.S. polysilicon manufacturers, the industry's technology leaders and the most competitive producers in the world, should be experiencing healthy expansion, not rapid contraction. This Administration was elected to support U.S. workers, and we encourage the U.S. Trade Representative to conclude an agreement to protect our dedicated and innovative U.S. employees.  REC Silicon can out-compete our foreign rivals and we can do it from our manufacturing locations here in the United States.  We simply need access to the global market, which can be achieved by the discussions provided for in the President's announcement."

For further information, please contact:
Francine Sullivan, Vice President Business Development
REC Silicon ASA
Phone: +1 509 750 1133

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