Borgestad ASA — Share Issue/Capital Change 2024

Jun 6, 2024

Borgestad ASA: New share capital registered

Borgestad ASA: New share capital registered

Borgestad, 6 June 2024: Reference is made to the stock exchange announcement by Borgestad ASA (the "Company") published on 3 June 2024 regarding the resolution of the general meeting to increase the Company's share capital by NOK 9.75 through the issue of 39 new shares, each with a nominal value of NOK 0.25, in order to facilitate for a reverse share split in the ratio 40:1.

The share capital increase has now been registered in the Norwegian Register of Business Enterprises, and the Company's new share capital is NOK 350,620,720 divided into 1,402,482,880 shares, each with a nominal value of NOK 0.25.

For further information, please contact:

Pål Feen Larsen, CEO of Borgestad ASA

Tel.: +47 48 84 53 33

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.