Third quarter 2008

HIGHLIGHTS

• Revenue growth of 30 percent
  • NOK 1,919 million versus NOK 1,480 million in the third quarter 2007
• EBITDA growth of 11 percent
  • NOK 711 million versus NOK 643 million in the third quarter 2007
  • EBITDA margin of 37 percent versus 43 percent in the third quarter 2007
  • Expansion cost of NOK 122 million versus NOK 66 million in the third quarter 2007
• EBIT growth of 9 percent
  • NOK 537 million versus NOK 495 million in the third quarter 2007
• Pre-tax profit of NOK 1,761 million including a NOK 1,207 million gain on embedded derivatives
• Signed NOK 8.5 billion worth of long-term wafer and silane gas contracts
• Signed a NOK 2.9 billion long-term contract for so-called “powder and fines” in October
• As per October end, long-term external contract portfolio worth more than NOK 60 billion in REC Silicon and REC Wafer through 2015
• Selected Béancour, Canada for potential greenfield investments in polysilicon and silane gas capacity
• All expansion projects running as planned and financing is secured