REC Silicon

AGM Information • May 11, 2021

PROTOKOLL FRA ORDINÆR GENERALFORSAMLING I REC SILICON ASA	MINUTES FROM ANNUAL GENERAL MEETING IN REC SILICON ASA*
Ordinær generalforsamling Silicon i REC ASA ble avholdt ("REC" eller "Selskapet") 11. mai 2021 til advokatfirmaet kl. 16.00 i lokalene Schjødt AS, Ruseløkkveien 14, Oslo.	The annual general meeting in REC Silicon ASA "the ("REC" or was held on Company") May 11, at at the of hrs offices 1600 (CET) 2021 Advokatfirmaet Schjødt Ruseløkkveien AS, 14, Oslo, Norway.
møtet og Åpning registrering av av 1. fremmøtte aksjonærer	ofthe of Opening meeting and registration r. attending shareholders
åpnet Advokat Aanmoen møtet Thomas på vegne av styrets leder.	at the Attorney law Thomas Aanmoen opened behalfofthe meeting on chair ofthe board.
totalt 647 av 638 aksjer var 476 372 134 412 representert, tilsvarende 36,16% av Selskapets ca. samlede aksjekapital. Fortegnelse fremmøtte over aksjonærer, herunder fullmakter, er vedlagt denne protokollen.	134,647,476 of a total of 372,412,658 shares were represented, corresponding to approximately 36.16% of the total share A list of Company's capital. attending shareholders, including proxies, is attached to these minutes.
møteleder og én person til Valg av 2. å signere sammen møteleder protokollen med	of of the meeting Election and Chairman 2. one person to co-sign the minutes with the Chairman
Følgende beslutning ble fattet:	The following resolution was passed:
"Advokat Aanmoen Thomas til velges lede å som generalforsamlingen uavhengig møteleder. Annette Malm Justad velges til å medundertegne protokollen. "	"Attorney Thomas Aanmoen is elected to chair the chairperson. Annette meeting independent as an minutes." Malm Justad is elected to co-sign the
av innkalling Godkjennelse og dagsorden 3.	of of the notice the meeting and 3. Approval the agenda
innsigelser mot Det fremkom ingen innkallingen og dagsordenen, beslutning ble og følgende fattet:	There to the and the were no objections notice and the following resolution agenda, was passed:
"Innkalling og dagsorden godkjennes".	of agenda for "The notice and the meeting are approved. "
til og valgkomiteens Honorar styrets 4. medlemmer	4. Directors' remuneration remuneration and of the members Nomination for the Committee
Valgkomiteens innstilling ble gjennomgått. Det ansatte ble opplyst at i TRG eller i Aker-selskaper honoraret personlig, men at ikke mottar utbetaling vedkommende skjer til arbeidsgiverselskap. Følgende beslutning ble fattet:	The Nomination Committee's proposal was It was advised that of discussed. employees TRG or Aker-companies do not receive the remuneration in person and payment made to the employer is question. The following resolution company in was passed:

"Innstillingen fra valgkomiteen godkjennes. Honoraret medlemmerfor perioden fra til styrets 11. mai 2021 til i 2022fastsettes den ordinære generalforsamlingen til:		from the Nomination recommendation "The Committee was approved. The remuneration to the Board membersfor periodfrom the 11 May 2021 to the of2022 annual general meeting shall be:
Styrets leder	NOK 650 000	Chair ofthe Board	NOK 650,000
Styrets nestleder	NOK 450 000	Deputy chair	NOK 450,000
Andre styremedlemmer	NOK375 000	Other Board members	NOK375,000
til valgkomiteenfor periodenfra Honoraret 11. mai 2021 til den ordinære generalforsamlingen i 2022 fastsettes til:		Committeefor The remuneration to the Nomination periodfrom 11 May Annual General the 2021 to the Meeting in 2022 shall be:
Leder i valgkomiteen	NOK40 000	Chair ofthe Committee	NOK40,000
Medlemmer i valgkomiteen	NOK32 000."	ofthe Committee Members	NOK52,000."
Godkjennelse av honorar 5.	til revisor	of auditor's fees 5. Approval
Følgende vedtak ble fattet:		The following resolution was passed:
"Generalforsamlingen godkjenner	revisors honorar	auditor's general meeting approves the "The
for revisjonen av årsregnskapet	til REC Silicon ASA	of for remuneration audit the	Annual Financial
for 2020 etter regning."		of for Statements financial REC Silicon ASA the
		year of2020 in accordance with invoice."
Godkjennelse 6. av årsberetning for 2020	årsregnskap og	of Statements 6. Approval Annual Financial and Directors' Report for 2020
Selskapets redegjørelse behandlet. vedtak Følgende	foretaksstyring for ble ble fattet:	corporate statement The Company's governance presented. The resolution was following was passed:
"Generalforsamlingen beretning for samt styrets utbyttefor regnskapsåret."	godkjenner årsregnskapet 2020. Det utbetales ikke	Annual "The General Meeting approves the Financial Report for Statements the Directors' and No 2020. dividends will be paid for the financial year."
redegjørelse Styrets 7. selskapsledelse	om eierstyring og	7. The Board's report on corporate	governance
ble Det redegjørelse vist til	om eierstyring og	the Reference made was to	report on corporate
selskapsledelse som var	utarbeidet i henhold til	governance prepared in accordance with section 3-3 b
§ 3-3 b, og inntatt regnskapsloven	i årsrapporten	ofthe Norwegian Accounting Act and included in the
for konsernet. Generalforsamlingen	hadde ingen	annual report for the meeting group. The general
merknader til redegjørelsen.		remarks to the made no report.
Retningslinjer 8. om annen godtgjørelse til	of Guidelines on stipulation fastsettelse lønn salary og av 8. of ledende other remuneration executive ansatte		and management
Retningslinjer fastsettelse lønn annen om av og		and other Guidelines for salary	compensation to
ledende ansatte henhold godtgjørelse til til i		management were presented. executive
allmennaksjeloven § 6-i6a ble presentert.

Følgende vedtak ble fattet:	The following resolution was passed:
fastsettelse "Retningslinjene om av lønn annen og godtgjørelse til ledende ansatte godkjennes."	"The guidelines for other salary and remuneration to ofthe members executive management are approved."
å utstede aksjer til 9. Fullmakt	9. Authorization to issue shares
forslag til vedtak ble gjennomgått. Styrets	The Board's proposal for resolution was discussed.
vedtak i samsvar Følgende ble truffet, med styrets forslag:	The following resolution was passed, consistent with the Board's proposal:
"Styret gisfullmakt til å øke aksjekapitalen med inntil NOK gjennom flere 000 én 482 eller 74 aksjekapitalutvidelser.	""The Board is granted authorization to increase the with up to NOK share capital 74,482,000 through one or several share capital increases.
kan anvendesforfølgendeformål: Fullmakten	be used for The authorization to acquire shares may one or more ofthefollowing purposes:
(i) gjennomføring av investeringer, oppkjøp eller andre selskapsformål;	with investments, connection acquisitions (i) or in other corporate purposes;
for brukfor incentivprogrammerfor (ii) ansatte.	for usefor incentive programsfor employees. (ii)
tegningsvilkår fastsettes styret Pris og ved av hver utstedelse hensyn Selskapets under til behov og aksjenes markedsverdi det aktuelle tidspunkt. på mot Aksjer vil kunne utstedes kontantvederlag eller i form vederlag andre aktiva (tingsinnskudd), av herunder vedfusjon.	for and conditions subscription Price will be determined by the Board on issuance, according to the the market value at Company's needs and shares' the be issued in exchange for time. Shares may cash or contribution in kind, including through mergers.
fortrinnsrett Eksisterende aksjonærers tegne til å blifraveket av styret i forbindelse aksjer vil kunne med utøvelse avfullmakten.	The existing shareholders' preemptive rights to from subscribe shares may be deviated in connection ofthis with the effectuation authorization.
på datoen for fullmakt Denne utløper den ordinære generalforsamlingen men skal i alle tilfelle i 2022, for fra utløpe senest måneder datoen denne 15 generalforsamlingen.	The Board's authorization is valid until the Annual General Meeting in 2022, but shall in any event expire date of 15 monthsfrom at the latest the this General Meeting.
fullmakt Styret til å foreta gis samtidig nødvendige av fullmakten. vedtektsendringer ved utøvelse Denne fullmakt tidligere fullmakter erstatter til å øke alle aksjekapitalen. "	The Board is at the same time given authorization to of make amendments the necessary to the articles of association on execution the authorization. This authorization replaces all previous authorizations to increase the share capital."
til egne 10. Fullmakt å erverve aksjer	10. Authorization to shares acquire treasury
Styrets vedtak gjennomgått. til ble forslag Følgende vedtak ble fattet:	The Board's proposal was discussed. The following resolution was passed:
gis fullmakt Selskapets ""Styret til på vegne å erverve aksjer i REC Silicon ASA.	"The Board is granted authorization to acquire shares on behalfofthe in REC Silicon ASA Company.

gjelderfor Fullmakten kjøp av inntil 10 % av pålydende av Selskapets aksjekapital, jf. allmennaksjeloven §§ 9- 1 pr 2 og 9-3. Aksjer kan erverves til minst NOK aksje og maksimalt NOK 150 pr aksje. Aksjene skal erverves fullmakt ved omsetning Denne ordinær over børs. for utløper på datoen den ordinære men skal generalforsamlingen tilfelle i alle i 2022, fra for utløpe senest måneder datoen denne 15 generalforsamlingen "	of 10% of The authorization covers purchase(s) up to value ofthe capital of face the share the Company, cf. Act the Norwegian Public Limited §§ g-2 and 9-3. NOK1 minimum Shares may be acquired at per share maximum NOK and 130 per share. The shares shall be the stock acquired through ordinary purchase on exchange. The Board's authorization is valid until the Annual in 2022, but General Meeting shall in any event of from latest 15 months expire at the the date this General Meeting."
av styremedlemmer 10. Valg	ofboard members 10. Election
Forslaget i innkallingen ble gjennomgått. Følgende vedtak ble fattet:	ofthe notice was The proposal discussed. The following resolution was passed:
styrelederfor "11.1 Kjell Inge Røkke velges som en periodefrem til den ordinære generalforsamlingen i 2022".	chair ofthe Boardfor "11.1 Kjell Inge Røkke is elected as until the annual general meeting a term in 2022.".
"11.2. Annette Malm Justad velges som nestleder i styretfor en periodefrem til den ordinære generalforsamlingen i 2022."	chair of "11.2. Annette MalmJustad is elected as deputy Boardfor until the a term the annual general meeting in 2022."
styremedlemfor "11.3. Lene Landøy velges som en periodefrem til den ordinære generalforsamlingen i rr 2022	ofthe Board a member "11.3. Lene Landøy is elected as for until annual a term the general meeting in 2022."
styremedlemfor "11.4 Audun velges som Stensvold en periodefrem til den ordinære generalforsamlingen i it 2022.	ofthe "11.4 Audun Stensvold is elected as a member Boardfor until the annual a term general meeting in 2022."
av medlemmer til valgkomiteen 11. Valg	ofmembers nomination 11. Election to the committee
forslag ble gjennomgått. Valgkomitéens Følgende vedtak ble fattet:	Committee's The Nomination proposal was discussed. The following resolution was passed:
velges som "12.1 Engebret G. Hisdahl leder av valgkomiteenfor en periodefrem til den ordinære generalforsamlingen i 2022".	is elected as chair ofthe "12.1 Engebret G. Hisdahl Committeefor Nomination until a term the annual general meeting in 2022".
"12.2 Liv Monica Stubholdt velges som medlem av valgkomiteenfor en periodefrem til den ordinære generalforsamlingen i 2022".	of "12.2 Liv Monica Stubholdt is elected as a member Committeefor the Nomination a term the until annual general meeting in 2022".
"12.3 Kjetil Kristiansen velges som medlem av valgkomiteenfor en periodefrem til den ordinære generalforsamlingen i 2022."	ofthe "12.3 Kjetil Kristiansen is elected as a member Committeefor Nomination a term until the annual general meeting in 2022."

*	*
Da det ikke forelå flere saker til behandling,	As there were no further matters the on agenda,
takket møteleder for oppmøtet, og møtet ble	the thanked the present Chairman shareholders
hevet.	for their participation, the and meeting was
	adjourned.
følger en detaljert utfallet Vedlagt oversikt over av herunder blant annet avstemningene, antall stemmer for og mot de respektive beslutningene,	overview ofthe Attached is a detailed results and ofvotes i.a number voting, including for and the against respective resolutions, cfthe
jf allmennaksjeloven § 5-16.	limited companies act Norwegian public section 5-16.
*	*
Signatur følger på neste side.	signature follows on the The next page.

* These minutes are prepared in Norwegian, with an English office translation. In case of discrepancies between the two versions, the Norwegian version shall prevail.

Signature page for REC Silicon ASA Annual General Meeting 2021

Oslo, 11. mai 2021 / Oslo, ¹¹ May 2021

^I /[OIMiA/fOij/[AAy— ThomasjAanmoen Annette Malm Justad

Total Represented

ISIN: NOOOIQI12675 REC SILICON ASA General meeting date: 11/05/2021 16.00 Today: 11.05.2021

Number of persons with voting rights represented/attended : 3

		Number of shares	Vo sc
	Total shares	372,412,658
	- own shares of the company	424
	Total shares with voting rights	372,412,234
	Represented by own shares	1,605,374	0.43 %
	Represented by advance vote	13,719,403	3.68 %
	Sum own shares	15,324,777	4.12 Vo
	Represented by proxy	93,729,011	25.17 %
	Represented by voting instruction	25,593,688	6.87 %
	Sum proxy shares	119,322,699	32.04 Vo
	Total represented with voting rights	134,647,476	36.16 Vo
	• Total represented by share capital	134,647,476	36.16 Vo

Registrar for the company: Signature company:

ONB Bank ASA

fYVito JfktMMA

REC SILICON ASA

Protocol for general meeting REC SILICON ASA

ISSN:	N000)0133675 REC 5IUC0N ASA
General meeting date-	11/05/2021 16.00
Today.	11.05.2021
Shares class	FOR	Against	Poll in	Abstain	Poll not registered	Represented shares with voting rights
Agenda Item 2 Election of Chair of the meeting and a person to co-sign the minutes with the Chair
Ordinær	133,326,446	271	133,326,717	1,320,759	0	134,647,476
votes cast in %	100.00 %	0.00 %		0.00 %
representation of sc In %	99.02 %	0.00 %	99.02 %	0.98 %	0.00 %
total sc in %	35.80 %	0.00 %	35.80 %	0.36 %	0.00 %
Total	133,326,446	271	133,326,717	1,320,759	0	134,647,476
Agenda Item 3 Approval of the notice of the meeting and the agenda
Ordinær	133,722,011	0	133,722,011	925,465	0	134,647,476
votes cast in %	100.00 %	0.00 %		0.00 %
representation of sc in %	99.31 %	0.00 %	99.31 %	0.69 %	0.00 %
total sc in %	35.91 %	0.00 %	35.91 %	0.25 %	0.00 %
Total	133,722,011	0	133,722,011	925,465	0	134,647,476
Agenda item 4 Directors' remuneration and remuneration for the members of the Nomination Committee
Ordinær	133,693,033	37,996	133,731,029	916,447	0	134,647,476
votes cast in %	99.97 %	0.03 %		0.00 %
representation of sc in %	99.29 %	0.03 %	99.32 %	0.68 %	0.00 %
total sc In %	35.90 %	0.01 %	35.91 %	0.25 %	0.00 %
Total	133,693,033	37,996	133,731,029	916,447	0	134,647,476
Agenda item 5 Approval of auditor's fees
Ordinær	133,739,708	3,367	133,743,075	904,401	0	134,647,476
votes cast in %	100.00 %	0.00 %		0.00 %
representation of sc in %	99.33 %	0.00 %	99.33 %	0.67 %	0.00 %
total sc in %	35.91 %	0.00 %	35.91 %	0.24 %	0.00 %
Total	133,739,708	3,367	133,743,075	904,401	0	134,647,476
Agenda item 6 Approval of Annual Financial Statements and Directors' Report for 2020
Ordinær	133,700,010	0	133,700,010	947,466	0	134,647,476
votes cast in %	100.00 %	0.00 %		0.00 %
representation of sc in %	99.30 %	0.00 %	99.30 %	0.70 %	0.00 %
total sc in %	35.90 %	0.00 %	35.90 %	0.25 %	0.00 %
Total	133,700,010	0	133,700,010	947,466	0	134,647,476
Agenda item 8 Guidelines on stipulation of salary and other remuneration of executive management
Ordinær	133,639,853	191,287	133,831,140	816,336	0	134,647,476
votes cast in %	99.86 %	0.14 %		0.00 %
representation of sc In %	99.25 %	0.14 %	99.39 %	0.61 %	0.00 %
total sc in %	35.89 %	0.05 %	35.94 %	0.22 %	0.00 %
Total	133,639,853	191,287	133,831,140	816,336	0	134,647,476
Agenda item 9.1 Authorization to issue shares -investments, acquisitions or other corporate purposes
Ordinær	133,178,764	1,430,328	134,609,092	38,384	0	134,647,476
votes cast in %	98.94 %	1.06 %		0.00 %
representation of sc In %	98.91 %	1.06 %	99.97 %	0.03 %	0.00 %
total sc in %	35.76 %	0.38 %	36.15 %	0.01 %	0.00 %
Total	133,178,764	1,430,328	134,609,092	38,384	o	134,647,476
Agenda item 9.2 Authorization to issue shares - for use for incentive programs for employees
Ordinær	132,675,256	1,768,741	134,443,997	203,479	0	134,647,476
votes cast in %	98.68 %	1.32 %		0.00 %
representation of sc in %	98.54 %	1.31 %	99.85 %	0.15 %	0.00 %
total sc in %	35.63 %	0.48 %	36.10 %	0.06 %	0.00 %
Total	132,675,256	1,768,741	134,443,997	203,479	0	134,647,476
Agenda item 10 Authorization to acquire treasury shares
Ordinær	134,246,524	221,283	134,467,807	179,669	0	134,647,476
votes cast in %	99.84 %	0.17 %		0.00 %
representation of sc in %	99.70 %	0.16 %	99.87 %	0.13 %	0.00 %
total sc in %	36.05 %	0.06 %	36.11 %	0.05 %	0.00 %
Total	134,246,524	221,283	134,467,807	179,669	0	134,647,476
Agenda item 11.1 Election of Kjell Inge Rokke as chair of the Board of Directors
Ordinær	134,416,705	189,261	134,605,966	41,510	0	134,647,476
votes cast in %	99.86 %	0.14%		0.00%

Shares class	FOR	Against	Poll In	Abstain	Poll not registered	Represented shares with voting rights
representation of sc in %	99.83 %	0.14 %	99.97 %	0.03 %	0.00 %
total sc in %	36.09 %	0.05 %	36.14 %	0.01 %	0.00 %
Total	134,416,705	189,261	134,605,966	41,510	0	134,647,476
Agenda item 11.2 Election of Annette Malm Justad as deputy chair of the Board of Directors
Ordinær	131,933,138	2,490,328	134,423,466	224,010	0	134,647,476
votes cast in %	98.15 %	1.85 %		0.00 %
representation of sc in %	97.98 %	1.85 %	99.83 %	0.17 %	0.00 %
total sc in %	35.43 %	0.67 %	36.10 %	0.06 %	0.00 %
Total	131,933,138	2,490,328	134,423,466	224,010	0	134,647,476
Agenda item 11.3 Election of Lene Landøy to the Board of Directors
Ordinær	134,381,399	16,096	134,397,495	249,981	0	134,647,476
votes cast in %	99.99 %	0.01 %		0.00 %
representation of sc in %	99.80 %	0.01 %	99.81 %	0.19 %	0.00 %
total sc in %	36.08 %	0.00 %	36.09 %	0.07 %	0.00 %
Total	134,381,399	16,096	134,397,495	249,981	0	134,647,476
Agenda item 11.4 Election of Audun Stensvold to the Board of Directors
Ordinær	134,392,606	15,319	134,407,925	239,551	0	134,647,476
votes cast in %	99.99 %	0.01 %		0.00 %
representation of sc In %	99.81 %	0.01 %	99.82 %	0.18 %	0.00 %
total sc in %	36.09 %	0.00 %	36.09 %	0.06 %	0.00 %
Total	134,392,606	15,319	134,407,925	239,551	0	134,647,476
Agenda item 12.1 Election of Engebret G. Hisdahl as chair of the Nomination Committee
Ordinær	133,826,693	15,353	133,842,046	805,430	0	134,647,476
votes cast in %	99.99 %	0.01 %		0.00 %
representation of sc in %	99.39 %	0.01 %	99.40 %	0.60 %	0.00 %
total sc in %	35.94 %	0.00 %	35.94 %	0.22 %	0.00 %
Total	133,826,693	15,353	133,842,046	805,430	0	134,647,476
Agenda item 12.2 Election of Uv Monica Stubholdt to the Nomination Committee
Ordinær	133,826,693	15,353	133,842,046	805,430	0	134,647,476
votes cast in %	99.99 %	0.01 %		0.00 %
representation of sc in %	99.39 %	0.01 %	99.40 %	0.60 %	0.00 %
total sc in %	35.94 %	0.00 %	35.94 %	0.22 %	0.00 %
Total	133,826,693	15,353	133,842,046	805,430	0	134,647,476
Agenda item 12,3 Election of Kjetil Kristiansen to the Nomination Committee
Ordinær	133,826,222	15,824	133,842,046	805,430	0	134,647,476
votes cast In %	99.99 %	0.01 %		0.00 %
representation of sc in %	99.39 %	0.01 %	99.40 %	0.60 %	0.00 %
total sc In %	35.94 %	0.00 %	35.94 %	0.22 %	0.00 %
Total	133,826,222	15,824	133,842,046	805,430	0	134,647,476

Registrar for the company: Signature company: DNB Bank ASA REC SILICON ASA Hlcitt Jlhumwin

Share information

Name Total number of shares Nominal value Share capital Voting rights Ordinær 372,412,658 1.00 372,412,658.00 Yes Sum:

S 5-17 Generally majority requirement requires majority of the given votes

S 5-18 Amendment to resolution

Requires two-thirds majority of the given votes like the issued share capital represented/attended on the general meeting