Solar — Delisting Announcement 2014

Nov 26, 2014

Additional information regarding proposed sale of the business of REC Solar ASA

Additional information regarding proposed sale of the business of REC Solar ASA

Oslo, Norway, November 26, 2014 - Reference is made to the announcement dated

November 24, 2014 from REC Solar ASA (the "Company") concerning the Company's

agreement with Bluestar Elkem Investment Co. Ltd. (Hong Kong) for the sale of

all assets and liabilities of the Company (the "Transaction").

Following the completion of the Transaction and the Company's receipt of the

purchase price, the Board will propose to the shareholders that the Company

shall be liquidated under Norwegian rules on solvent liquidations. The result of

such liquidation will be that the net proceeds (being the purchase price for the

business less transaction costs and costs arisen in the ordinary course of

business until the date of the liquidation) will be distributed to the Company's

shareholders. Shareholders are expected to receive approx. NOK 107 per share.

Under Norwegian tax laws, shareholders' receipt of funds following the

liquidation of a public limited company shall be treated as realization of

shares for tax purposes, i.e. in the same way as an ordinary sale of shares.

For Norwegian corporate shareholders, liquidation proceeds shall be covered by

the tax exemption method. Gain realized by individual Norwegian shareholders

will be taxable at a rate of 27%, based on the consideration received less the

shareholder's tax base on the shares.

For non-Norwegian shareholders, whether corporate or individual, no withholding

tax will be triggered on distribution of liquidation proceeds. Non-Norwegian

shareholders should consult their own advisors for guidance on the tax treatment

of liquidation proceeds in their tax jurisdiction.

For further information, please contact:

Mr. Kim Boman, Investor Relations

Telephone: +47 959 63 912

Email: kim.boman@recgroup.com

About REC Solar ASA

REC is a leading global provider of solar energy solutions. With more than 15

years of experience, we offer sustainable, high performing products, services

and investments for the solar industry. Together with our partners, we create

value by providing solutions that better meet the world's growing energy needs.

Headquartered in Norway, the company is traded under the name REC Solar ASA and

listed on the Oslo Stock Exchange (ticker: RECSOL). Our 1,700 employees

worldwide generated revenues of US $647 million in 2013. For more information,

visit www.recgroup.com.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1874351]