REC Silicon ASA – Tore Torvund is stepping down as CEO

Moses Lake, WA, 30 November, 2021:

The CEO of REC Silicon ASA (“REC Silicon” or the “Company”), Tore Torvund, has decided to step down from his role. Torvund is turning 70 years and his decision has been discussed and agreed with the Board of Directors. Torvund has been instrumental in developing REC Silicon. The Board of Directors will thank him for his valuable contribution, over the last 12 years, in bringing the company to where it is today. The current CFO of REC Silicon ASA, James A. May II, will act as CEO while the Board of Directors finalize its search and recruitment of a new CEO. The current corporate controller Douglas Moore will act as CFO.

As was announced by REC Silicon on 11 November 2021, Hanwha Solutions has expressed a strong desire to be represented on the board of the Company following completion of the announced investment in the Company by Hanwha Solutions. This proposal is supported by Aker Horizons. Furthermore, it was announced that the chairman of the board of directors Kjell Inge Røkke, is planning to step down, and that Aker Horizons has proposed to the nomination committee that Kristian Monsen Røkke is elected as chairman of the board.

The nomination committee of Rec Silicon supports the proposed new appointments to the board.

Notice is hereby given that the Extraordinary General Meeting of REC Silicon ASA will be held digitally on 22 December, 2021 at 4:00 pm CET for election of new board members.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Nils O. Kjerstad IR contact at REC Silicon ASA, on 30 November, 2021 at 23:45 CET.

For further information, please contact:
James A. May II, Chief Executive Officer
Phone: +1 509 989 1023

Nils O. Kjerstad IR Contact
Phone: +47 9135 6659

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: RECSI), the Company is headquartered in Lysaker, Norway.
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