Borgestad ASA — Capital/Financing Update 2023

Dec 13, 2023

BOR04 – Satisfied conditions for call option notice

BOR04 – Satisfied conditions for call option notice

Issuer: Borgestad ASA (the "Company")

ISIN for the bond loan: NO0010907736

Date of redemption: 20 December 2023

Redemption amount: NOK 100,000,000

Redemption price: 100% of nominal value

Reference is made to the Company's announcement on 6 December 2023, where the Company informed of the exercise of its Call Option and redemption of all outstanding bonds.

The exercise of the call option was subject to certain conditions set out in the call option notice being satisfied or waived by the Company no later than 15 December 2023. We hereby confirm that the conditions to the call option notice have been satisfied, and that all outstanding bonds will be redeemed as planned.

The Company will redeem the remaining NOK 100,000,000 principal amount (plus accrued and unpaid interest to but not including the redemption date) at a redemption price equal to 100% of the nominal amount for each redeemed bond, with redemption date 20 December 2023.

For further information, please contact:

Pål Feen Larsen, CEO of Borgestad ASA

Tel.: +47 48 84 53 33

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

About Borgestad|www.borgestad.no

Borgestad ASA (OSE:BOR) is an investment company focused on real estate and industry. The key investments include Agora Bytom shopping center and the leading refractory manufacturer Höganäs Borgestad.

About Höganäs Borgestad | www.hoganasborgestad.com

Höganäs Borgestad develops, manufactures and delivers refractory products, installations and turnkey solutions that enhance the productivity and competitiveness of industrial customers. The aim is to contribute to the customers' profitability by providing high-value refractory solutions to their challenges. Today, the company is a leading supplier in the refractory market of the Nordic countries and has a global presence in a number of selected application areas.