REC Silicon — Proxy Solicitation & Information Statement 2010

Apr 7, 2010

Name and address of shareholder:

EXTRAORDINARY GENERAL MEETING RENEWABLE ENERGY CORPORATION ASA will be held April 29, 2010 at 10:00 a.m. at Radisson Blu Scandinavia Hotel Holbergsgate 30, NO-0166 Oslo, Norway

If the shareholder is a company, please state the name of the person representing the company:

Name of person representing the company. To grant proxy, use the proxy form below.

ATTENDANCE FORM

Should be received by DnB NOR Bank ASA on April 27, 2010 at the latest.

Postal address: DnB NOR Bank ASA, Verdipapirservice, N-0021 Oslo, Norway, alternatively on telefax +47 22 48 11 71. Registration may also be made via the company's homepage www.recgroup.com

The undersigned will attend at RENEWABLE ENERGY CORPORATION ASA's Extraordinary General Meeting 2010 on April 29, 2010 and vote for

own shares.

other shares in accordance with enclosed Power of Attorney shares.

A total of

X)

Place/Date 2010

Shareholder's signature

(x) Sign only to notify own attendance. To grant proxy, use the form below)

POWER OF ATTORNEY WITHOUT INSTRUCTIONS TO VOTE

REF. NO:

If you cannot personally attend the Extraordinary General Meeting, you may appoint a proxy to use this power of attorney, or you can return a blank power of attorney. In the latter case, the company will appoint the Chairman of the Board or the person he authorises as your proxy before the Extraordinary General Meeting takes place. The power of attorney may instruct the proxy on how to vote on each specific matter. See page 2.

This power of attorney should be received by DnB NOR Bank ASA on April 27, 2010 at the latest. Postal address: DnB NOR Bank ASA, Verdipapirservice, N-0021 Oslo, Norway, alternatively on telefax +47 22 48 11 71. You may also be register on-line on the Company's webpage on www.recgroup.com

The undersigned

hereby appoints

☐ Chairman of the Board

Or

(Name in capital letters)

as my proxy with the authority to attend and vote for my/our shares at RENEWABLE ENERGY CORPORATION ASA's Extraordinary General Meeting 2010 on April 29, 2010.

x)

Place/Date 2010

Shareholder's signature (x) sign only if granting proxy)

With regard to rights of attendance and voting we refer you to The Norwegian Public Limited Companies Act, in particular Chapter 5. A written power of attorney dated and signed by the beneficial owner giving such proxy must be presented at the meeting. If the shareholder is a company, please attach the shareholder's certificate of registration to the proxy.

---

PROXY WITH INSTRUCTIONS TO VOTE

EXTRAORDINARY GENERAL MEETING APRIL 29, 2010 IN RENEWABLE ENERGY CORPORATION ASA

If you are not able to attend the Extraordinary General Meeting April 29, 2010, you may be represented by way of proxy, in which case this proxy form may be used.

The undersigned shareholder in Renewable Energy Corporation ASA:

hereby grants (check-off):

☐ The Chairman of the Board of Directors, or the person he appoints
☐ Name of proxy (please use capital letters)

proxy to meet and vote for my/our shares at the Extraordinary General Meeting of Renewable Energy Corporation ASA April 29, 2010. If the proxy form is submitted without stating the name of the proxy, the proxy will be deemed to have been given to the Chairman of the Board of Directors or the person he authorises.

The votes shall be cast in accordance with the instructions below. Please note that if the alternatives below are not ticked off, this will be deemed to be an instruction to vote "in favour" of the proposals in the notice, provided, however, that the proxy determines the voting to the extent the proxy is ambiguous, proposals are put forward in addition to, or instead of, the proposals in the notice.

| Items
(Numbered according to the notice) | In favour | Against | Abstention |
| --- | --- | --- | --- |
| 2. Election of persons to chair the meeting and co-sign the minutes | ☐ | ☐ | ☐ |
| 3. Approval of the notice and the agenda for the General Meeting | ☐ | ☐ | ☐ |
| 4. Rights Issue | ☐ | ☐ | ☐ |
| Date | Place | Shareholder's signature) |
| --- | --- | --- |
| | | Name Shareholder (block letters) |
| | | ) Only for granting proxy |

With regard to rights of attendance and voting we refer you to The Norwegian Public Limited Companies Act, in particular Chapter 5. A written power of attorney dated and signed by the beneficial owner giving such proxy must be presented at the meeting. If the shareholder is a company, please attach the shareholder's certificate of registration to the proxy.