Solar — Audit Report / Information 2015

Aug 21, 2015

KPMG AS P.O. Box 7000 Majorstuen Sørkedalsveien 6 N-0306 Oslo

Telephone +47 04063 +47 22 60 96 01 Fax Internet www.knmg.no Enterprise 935 174 627 MVA

To the Shareholders in REC Solar ASA under liquidation

INDEPENDENT AUDITOR'S REPORT

Report on the schedule of Financial Position at Final Dissolution

We have audited the schedule of Financial Position at Final Dissolution ("Financial Position at Final Dissolution") as at 18 August 2015 for REC Solar ASA, which presents the Company's net assets at the time of final dissolution. The Financial Position at Final Dissolution are prepared by the Liquidation Board of Directors.

The Liquidation Board of Directors Responsibility for the Financial Position at Final Dissolution

The Liquidation Board of Directors is responsible for the preparation of the Financial Position at Final Dissolution in accordance with the Norwegian Public Limited Liability Companies Act, and for such internal control as the Liquidation Board of Directors determine necessary to enable the preparation of Financial Position at Final Dissolution that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on the Financial Position at Final Dissolution based on our audit. We conducted our audit in accordance with laws, regulations, and auditing standards and practices generally accepted in Norway, including International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the Financial Position at Final Dissolution are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures to the Financial Position at Final Dissolution. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Financial Position at Final Dissolution, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Liquidation Board of Directors' preparation of the Financial Position at Final Dissolution, in accordance with the Norwegian Public Limited Liability Companies Act, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the Financial Position at Final Dissolution.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the Financial Position at Final Dissolution as at 18 August 2015 are in all material respects prepared in accordance with the Norwegian Public Limited Liability Companies Act.

Oslo, 21 August 2015 KPMG A e Gevoll

State Authorized Public Accountant

Offices in

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Bo
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Fin KPMG AS, a Norwegian member firm of the KPMG network of indeper
member firms affiliated with KPMG International Cooperative ("KPMG
International"), a Swiss entity.

Statsautoriserte revisorer - medlemmer av Den norske Revisorforening

Oslo	Haugesund	Stavanger
Alta	Knarvik	Stord
Arendal	Kristiansand	Straume
Bergen	Larvik	Tromsa
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Elverum	Molde	Tynset
Finnsnes	Narvik	Tønsberg
Grimstad	Sandefiord	Ålesund
Hamar	Sandnessigen