Third quarter 2007

HIGHLIGHTS

• Revenue growth of 30 percent
  • NOK 1,480 million versus NOK 1,139 million in the third quarter 2006
• EBITDA growth of 23 percent
  • NOK 643 million versus NOK 522 million in the third quarter 2006
  • More than NOK 70 million negative impact form operational disruptions
  • Expansion and ramp-up cost of NOK 66 million
  • Scheduled shut downs undertaken in both REC Wafer and REC Solar
• EBIT growth of 17 percent
  • NOK 495 million versus NOK 422 million in the third quarter 2006
• Significant investments approved
  • NOK 1,350 million investment for additional 270 MW mono wafer capacity
  • EUR 10 million for 2.5 MW power plant in South Korea
  • NOK 210 million investment in new technology centre at Herøya
• Major wafer contract signed with Photovoltech
• Singapore chosen for new manufacturing complex