Borgestad ASA — Director's Dealing 2025

Feb 28, 2025

Borgestad ASA : Grant of restricted stock units to leading personnel

Borgestad ASA : Grant of restricted stock units to leading personnel

28 February 2025: The board of directors of Borgestad ASA has today granted 58,031 restricted stock units ("RSUs") for the financial year 2024 to leading personnel of the Group. The grant has been made in compliance with the principles set forth in the Company's guidelines on determination of salary and other remuneration to leading personnel, as adopted by the annual general meeting held on 3 June 2024 (the "Guidelines"). According to the Guidelines, a portion of the leading personnel's variable remuneration, as determined based on the principles in the Guidelines, may be settled in the form of RSUs.

Each RSU gives the right to receive one share in the Company free of charge, subject to the holder remaining employed by the Borgestad group throughout the vesting period. The RSUs will, with certain customary exceptions, vest three years from the grant date. The number of RSUs granted may be adjusted in accordance with standard practices in the event of certain corporate actions, such as share splits and consolidations, rights issues and repair issues and the distribution of dividends.

The following leading personnel and primary insiders have been allocated RSUs:

Pål Feen Larsen (CEO): 45,742 RSUs.

Bendik Persch Andersen (Head of M&A, Corporate Development and Investor Relations): 12,289 RSUs.

Please see details in the attached forms.

For further information, please contact:

Pål Feen Larsen, CEO of Borgestad ASA

Tel.: +47 48 84 53 33

or

Bendik Persch Andersen, Head of M&A, Corporate Development and Investor Relations in Borgestad ASA

Tel.: +47 98 83 67 27

This information is subject to the disclosure requirements pursuant to Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act section 5-12.

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.