REC Silicon — Earnings Release 2010

Feb 2, 2011

REC Group fourth quarter results - above market consensus

Preliminary financial results for the fourth quarter

2010 are significantly above expectations;

Revenues NOK 4.9 billion

EBITDA NOK 1.8 billion

EBIT NOK 1.1 billion

The EBITDA result includes NOK 0.3 billion in non-

recurring items, mainly related to a cancellation fee

received for a wafer sales contract.

In addition, the results were positively affected

especially by;

· A stronger than expected market, enabling

sales of accumulated off-spec products at attractive

prices

· Higher than expected FBR production and

product quality in REC Silicon, due to fewer than

normal maintenance close-downs and more stable

operations. These extra volumes were sold in the spot

market at attractive prices.

REC will provide more details on the results and

outlook at the scheduled presentation of the fourth

quarter results on Wednesday February 9th, 2011 at

08.00 AM CET. The presentation will take place at the

conference centre Oslo Konserthus, Munkedamsveien 14,

0250 Oslo. For more information about the program on

the release day please visit www.recgroup.com.

REC cannot answer fourth quarter related questions

from the financial community or media until February

9th.

About REC

REC is a leading vertically integrated player in the

solar energy industry. REC is among the world's

largest producers of polysilicon and wafers for solar

applications, and a rapidly growing manufacturer of

solar cells and modules. REC is also engaged in

project development activities in selected PV

segments. Founded in Norway, REC is an international

solar company, employing more than 4,100 people

worldwide. REC had revenues in excess of NOK 9

billion in 2009. Please visit www.recgroup.com to

learn more about REC.