Issue of US$ 500 Million 4.75% Notes Due 2023

Publication of Offering Circular

The following Offering Circular is available for viewing in relation to Issue of U.S. $500,000,000 4.750 per cent. Notes due 2023 under the U.S. $7,000,000,000 Global Medium Term Note Programme by REC Limited:

NOTE OFFERING CIRCULAR dated 12 May 2020 together with the GMTN OFFERING CIRCULAR dated 20 February 2020

To view the full document, please paste the URL from the link below into the address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/5310N_1-2020-5-20.pdf

For further information, please contact

REC Limited (formerly known as Rural Electrification Corporation Limited),

Core-4, SCOPE Complex,

7, Lodi Road, New Delhi - 110003 (INDIA).

Landline: +911143091670, +911143091616,

Mobile: +919891232666, +919910307676

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the GMTN Offering Circular may be addressed to and/or targeted at persons who are residents of particular countries (specified in the GMTN Offering Circular) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the GMTN Offering Circular is not addressed. Prior to relying on the information contained in the GMTN Offering Circular you must ascertain from the GMTN Offering Circular whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.