Renewable Energy Corporation ASA: Share options issued

Sandvika, July 22, 2010: According to the resolution adopted by the Annual General
Meeting on May 19, 2010, share options for executive management and key personnel have
been issued today. The share options have an exercise price of NOK 20.61 and a life of
six years, and may be exercised in the last three years.

The following primary insiders have received a total of 2,367,993 share options:

Name Share options allocated July 22, 2010 Total number of share options
Ole Enger 420,184 559,146
John Andersen, Jr 271,763 395,503
Tore Torvund 355,711 444,241
Einar Kilde 258,365 375,332
Bjørn Brenna 258,365 382,380
Kristine Ryssdal 207,143 306,575
Erik Sauar 229,320 334,756
Svanaug Bergland 158,410 234,449
Matthew Shippey 86,708 138,427
Mikkel Tørud 69,070 94,949
Kjell Christian Bjørnsen 52,954 52,954

About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among
the world’s largest producers of polysilicon and wafers for solar applications, and a
rapidly growing manufacturer of solar cells and modules. REC is also engaged in project
development activities in selected PV segments. Founded in Norway, REC is an
international solar company, employing close to 4,000 people worldwide. REC had revenues
in excess of NOK 9 billion in 2009. Please visit www.recgroup.com
http://www.recgroup.com/ to learn more about REC.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

HUG#1433392

Renewable Energy Corporation ASA: Second quarter 2010 – presentation material

Enclosed is REC’s interim results presentation for the second quarter 2010. The
presentation will be held at 08:00 CET today at the conference center Høyres Hus (Oslo,
Norway).

More details on today’s program and the presentation will available on REC’s internet
pages: www.recgroup.com http://www.recgroup.com

About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among
the world’s largest producers of polysilicon and wafers for solar applications, and a
rapidly growing manufacturer of solar cells and modules. REC is also engaged in project
development activities in selected PV segments. Founded in Norway, REC is an
international solar company, employing close to 4,000 people worldwide. REC had revenues
in excess of NOK 9 billion in 2009. Please visit www.recgroup.com
http://www.recgroup.com to learn more about REC.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Renewable Energy Corporation ASA: Presentation of the second quarter 2010

Morning program:

REC will release its second quarter results for 2010 on Tuesday July 20, 2010 just after
07:00 AM CET.

On the release day, President and CEO Ole Enger of REC will give a presentation together
with other members of the management team. The presentation will take place at 08:00 hrs
Norwegian time/CET at the conference centre Høyres Hus, Stortingsgaten 20, 0161 Oslo
(www.hoyreshus.no http://www.hoyreshus.no/ )

The presentation, held in English, will be broadcasted live over the Internet, and can
be accessed from: www.recgroup.com http://www.recgroup.com/ .

It will also be possible to listen to the presentation through a conference call. Please
make sure to dial in 10 minutes prior to scheduled start time on one of the following
numbers:

Conference ID: 6790649

Norway free call: 800 19 640
UK free call: 0800 028 1243
USA free call: 1888 935 4575
International dial in: +44 (0)20 7806 1951

Afternoon program:

REC will further host an analyst conference call with possibilities for questions and
answers later the same day at 15:00 CET. Please make sure to dial in at least 5 minutes
ahead of time to finalize your registration:

Norway free call: 800 80 119
International dial in: +47 2318 4501

Immediately after the call, a replay of the conference call will be made available. To
access, please dial +47 2318 4502 and use the following procedure:

1. Type account number 1524 followed by # (pound-sign) and press 1
2. Continue by typing the conference number: 524 followed by # (pound-sign) and press 1
to play

For more information, please contact:

Mikkel Tørud. VP and Investor Relations Officer, Tel: +47 976 99 144

About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among
the world’s largest producers of polysilicon and wafers for solar applications, and a
rapidly growing manufacturer of solar cells and modules. REC is also engaged in project
development activities in selected PV segments. Founded in Norway, REC is an
international solar company, employing more than 3,000 people worldwide. REC had
revenues in excess of NOK 9 billion in 2009. Please visit www.recgroup.com
http://www.recgroup.com/ to learn more about REC.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Newly developed thin films show promise for solar applications

Washington, September 9 (ANI): Researchers at Ben-Gurion University (BGU) of the Negev in Israel have developed thin films that exhibit carrier multiplication (CM), which shows promise future solar applications.

The films were synthesized at BGU by Professor Yuval Golan and PhD student Anna Osherov of the Department of Materials Engineering and the Ilse Katz Institute for Nanoscale Science and Technology.

One of the important factors limiting solar-cell efficiency is that incident photons generate only one electron-hole pair, irrespective of the photon energy.

Any excess photon energy is lost as heat.

Carrier Multiplication (CM) has been thought to be enhanced significantly in nanocrystalline materials such as quantum dots, owing to their discrete energy levels and enhanced Coulomb interactions.

The BGU team demonstrated that contrary to this expectation, for a given photon energy, carrier multiplication occurs more efficiently in bulk PbS and PbSe films than in nanocrystalline films of the same materials.

“Films developed at BGU show CM, in which each incoming photon (tiny quantity of sunlight) creates more than one electron-hole pair,” Golan explained.

“This can potentially be used for making more efficient solar cells. The new physics behind this work are that while CM has been mostly demonstrated in nanocrystalline materials (“quantum dots”), we now show that CM can be obtained also in single crystal (‘bulk’) films of lead sulfide and lead selenide,” he said.

Notably, the films were prepared using chemical solution deposition, an attractive, inexpensive deposition technique for which the Golan group at BGU has received considerable recognition. (ANI)