Disclosure of shareholding

Orkla ASA ("Orkla") has today sold 200,000,000 shares in Renewable Energy Corporation ASA ("REC") at a price of NOK 1.90 per share. Orkla has subsequently entered into a total return swap agreement with exposure to 200,000,000 shares in REC at the same price. Term to maturity is six months, unless the parties agree to cancel the agreement at an earlier date.

After the trade Orkla will hold 329,569,968 shares in REC, corresponding to approximately 15.6% of the outstanding share capital and voting rights in the company.

Board member in Orkla, Peter A. Ruzicka, is also board member in REC.

Orkla ASA,
Oslo, September 26, 2012

Rune Helland, SVP Investor Relations
Tel: +47 22 54 44 11 / +47 97 71 32 50

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.