Fornebu, Norway - February 1st, 2018:

REC Silicon Pte. Ltd (REC Silicon) and Shaanxi Non-Ferrous Tian Hong New Energy
Co. Ltd. (SNF) have entered into an agreement concerning the outstanding capital
contribution from REC Silicon to the Yulin JV, in connection with the 20,000 MT
polysilicon plant developed by REC Silicon and SNF in the city of Yulin, Shaanxi
province, People's Republic of China.

The Framework Agreement provides that SNF will make REC Silicon's outstanding
capital contribution of $169,020,000 to the Yulin JV and the shareholding
percentage of the two shareholders in the Yulin JV will be subsequently adjusted
to SNF holding 84.94% and REC Silicon holding 15.06%. Pursuant to the Framework
Agreement, REC Silicon will make the following payments: (i) an interest payment
of $652,500 to the Yulin JV within 30 days of the signing of the Framework
Agreement; and (ii) a total late payment penalty of $10,394,730 to SNF in three
installments over a two-year period. The late payment penalty will be paid by
REC Silicon as follows: (i) the first installment of $2,078,946 will be due 30
days after the signing of the Framework Agreement; (ii) the second installment
of $3,118,419 will be due within 30 days of the first anniversary of the
Framework Agreement; and (iii) the final installment of $5,197,365 will be due
within 30 days of the second anniversary of the Framework Agreement.

Within 6 months after the expiration of a three-year period after SNF makes REC
Silicon's outstanding capital contribution (Repurchase Period), REC Silicon will
have the option to either buy back the 33.94% equity interest from SNF pursuant
to a valuation and public bidding process as required by PRC state-owned asset
disposal regulations, or continue to maintain solely a 15.06% equity interest in
the Yulin JV. Prior to the expiration of the Repurchase Period, REC may appoint
an appraiser acceptable to both parties to appraise the value of the 33.94%
equity interest in the Yulin JV (the Pre-valuation). If the Pre-valuation is
higher than the valuation REC expects, or if the valuation determined by the
state-owned asset disposal regulation is higher than the Pre-valuation, REC has
the right to choose not to buy back the 33.94% equity interest, but instead may
choose to sell its remaining 15.06% equity interest in the Yulin JV.

The corporate governance of the Yulin JV will be adjusted according to the new
equity interest structure. The Board of Directors of the Yulin JV will be
adjusted to five directors, of which four will be appointed by SNF and one will
be appointed by REC. With respect to management, REC will nominate the Chief
Technology Officer while the remaining executive management of the Yulin JV will
be nominated by SNF. Upon a buy-back by REC of the 33.94% equity interest, the
corporate governance structure will be restored to the terms of the original
Yulin JV contract.

REC Silicon ASA's President & CEO Tore Torvund commented: "This agreement
between REC Silicon and SNF allows the two companies to continue a very good
cooperative relationship developed over the last four years in establishing a
world class FBR polysilicon plant in Yulin, and at the same time, preserves REC
Silicon's opportunity to hold a 49% equity interest in the Yulin JV in the
future".

For further information, please contact:

Christopher Bowes, Investor Relations
REC Silicon ASA
Phone: +1 509 793 8127
Email: chris.bowes@recsilicon.com

Nils O. Kjerstad
IR Contact Europe
Phone: +47 9135 6659
Email: nils.kjerstad@crux.no

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.

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