REC Silicon

Major Shareholding Notification • Jul 8, 2016

REC Silicon ASA - Disclosure of large shareholdings under the Securities Trading Act of 2007

REC Silicon ASA - Disclosure of large shareholdings under the Securities Trading Act of 2007

We would like to inform you that UBS Group AG has

fallen below the reportable threshold of 5% of the

share capital in REC Silicon ASA (NO0010112675).

Please let this serve you as our disclosure as set

forth below:

Name of the person obliged to notify:

UBS Group AG

Residing at:

Bahnhofstrasse 45, CH-8001 Zurich

Date of event:

7 July 2016

Event triggering the notification:

Disposal of shares

Total disposed shares:

69'342'638 shares

Total new holding:

65'913'240 shares representing 2.59% of the

2'543'818'785 voting rights and of the share capital.

56'605'781 shares are held directly by UBS AG, a

subsidiary of UBS Group AG. 9'307'459 shares are held

indirectly by UBS AG through UBS Switzerland AG

(8'342'826 shares), UBS Fund Management (Switzerland)

AG (567'384 shares), UBS Asset Management (Singapore)

Ltd (310'351 shares) and UBS Asset Management Life

Limited (86'898 shares).

This notification has also been sent to the issuer.

If you have any questions regarding this disclosure,

please contact Jamie Bonney on +41-44-239 80 58 in

Zurich.