Hanwha Q CELLS' Special Committee Retains Independent Financial Advisor and Legal Counsel

Hanwha Q CELLS Co., Ltd. (HQCL) a global leading photovoltaic manufacturer of high-performance, high-quality solar modules, announced that the special committee the of its board of directors, formed to consider the previously announced preliminary, non-binding proposal, dated August 2 [nd] , 2018, from Hanwha Solar Holdings Co., Ltd. (HSH), a subsidiary of Hanwha Chemical Corporation incorporated in the Republic of Korea, to acquire all of the outstanding shares of HQCL not already owned by HSH in a "going private" transaction for a cash consideration of US$9.00 per American Depositary Share ("ADS", each ADS representing fifty ordinary shares) or US$0.18 per ordinary share, has retained Houlihan Lokey Inc. as its independent financial advisor, Skadden, Arps, Slate, Meagher & Flom LLP as its U.S. legal counsel, and Conyers Dill & Pearman as its Cayman legal counsel to assist it in this process.

The Special Committee is comprised of the following independent and disinterested directors: Steve Kim (Co-chair), Richard Chun (Co-chair), and Young Soon Kim.

The Board cautions its shareholders and others considering trading in its securities that the Board just received the Proposal Letter and has not made any decisions with respect thereto. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

The Company does not undertake any obligation to provide any updates with respect to the Proposed Transaction or any other transaction except as required by applicable law.