Borgestad ASA — Earnings Release 2024

Aug 23, 2024

Borgestad ASA – Interim financial report for the second quarter 2024

Borgestad ASA – Interim financial report for the second quarter 2024

Highlights

Borgestad Groups profit before tax at MNOK 32.7 for second quarter 2024 compared to MNOK 2.2 in second quarter 2023.

EBIT margin at 6.0 percent for Höganäs Borgestad Group YTD’24 compared to 0.4 percent YTD’23.

Borgestad ASA has entered into a binding agreement for sale of Gunnar Knudsens veg 144 in second quarter. Completion of the sale is estimated to be finalized in October 2024.

Borgestad increased its shareholdings with 5.5 percent in Höganäs Borgestad Group in the quarter, currently owning 69.7 percent.

Borgestad ASA's report for the second quarter of 2024 is attached hereto.

The contact person is Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333

- -

This information is subject to disclosure requirements pursuant to the

Securities Trading Act §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.