REC Silicon ASA - Fourth quarter 2016 results

Fornebu, Norway - February 16, 2017: REC Silicon ASA (REC Silicon) reported
fourth quarter revenues of USD 80.4 million, up from USD 50.9 million in the
previous quarter. The corresponding EBITDA during the fourth quarter increased
to USD 4.9 million compared to a loss of USD 7.9 million in the previous
quarter.  The company also reported a December 31, 2016 cash balance of USD
65.8 million.

Q4 polysilicon sales of 3,801 MT were above expectations and finished goods
inventory decreased by 585 MT during the fourth quarter.

Silicon gas sales volumes increased to 882 MT compared to 772 MT in the prior
quarter.

Efforts to maintain liquidity and reduce costs have proven successful, with the
company reporting Q4 FBR cash cost at $11.2/kg and similar cash cost expected in
the first quarter. Tore Torvund, company CEO commented, "our efforts to decrease
costs and better align FBR production with sales volumes have been successful in
the fourth quarter. We will continue to be cost conscious and diligent at
managing cash levels so that REC Silicon remains a low cost leader in the
polysilicon industry even when operating at reduced capacity."

The Yulin joint venture plant remains on target for start-up in the second half
of 2017.  JV employees from China have completed their training in Moses Lake
and Butte. The company has successfully negotiated a deferral of the $15 million
capital contribution in the JV until at least July 2017, with ongoing
negotiations with the company's JV partner to defer the company's remaining $154
million capital contribution until after 2018.

For more information, please see the attached fourth quarter 2016 report.

Morning Program:
The company will give a presentation at 8:00 am CET today at Høyres Hus
Konferansesenter, Stortingsgaten 20, Oslo, Norway. The presentation will be in
English.

A live webcast from the presentation can be accessed at www.recsilicon.com or
the following link: http://webtv.hegnar.no/presentation.php?webcastId=44471820

It will also be possible to listen to the presentation through a conference
call. Please make sure to dial in 5-10 minutes prior to scheduled start time on
one of the following numbers:

Norway (Toll Free): 800 51084
Norway (Local): +47 2100 2610
UK (Toll Free): 0800 358 6377
UK (Local): +44 (0)330 336 9411
USA (Toll Free): 888 349 9618
USA (Local): + 1 719 325 2202
Other international: +44 (0)330 336 9411
Please provide confirmation code 2502782 and state your name, company and
country of residence.

Afternoon Program:
REC Silicon will host an analyst conference call later the same day at 3:00 p.m.
CET. Please make sure to dial in at least 5-10 minutes ahead of time to complete
your registration.

Norway (Toll Free): 800 51084
Norway (Local): +47 2100 2610
UK (Toll Free): 0800 358 6377
UK (Local): +44 (0)330 336 9105
USA (Toll Free): 800 347 6311
USA (Local): +1 719 457 2086
Other international: +44 (0)330 336 9105
Please provide confirmation code 8985294 and state your name, company and
country of residence.

For further information, please contact:
Chris 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 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.