Borregaard

Capital/Financing Update • Mar 24, 2022

Borregaard ASA: New long-term sustainability-linked loan agreement

Borregaard ASA: New long-term sustainability-linked loan agreement

Borregaard has today entered into a ten-year sustainability-linked loan

agreement with the Nordic Investment Bank (NIB). The USD 50 million loan will

contribute to financing Borregaard's investments to reduce CO(2) emissions and

water effluents.

NIB and Borregaard have agreed on three key performance indicators (KPIs) to be

achieved. The KPIs are closely linked to Borregaard's sustainability strategy.

The margin under the loan agreement can be adjusted based on Borregaard's

progress on: (i) the Group's 2030 target of reducing greenhouse gas emissions

(Scope 1 and 2) as approved by the Science Based Target initiative, (ii) reduce

emissions of organic compounds to the Glomma River to targeted levels and (iii)

reduction of the Group's total recordable injuries.

Sarpsborg, 24 March 2022

Contact:

CFO, Per Bjarne Lyngstad, mobile +47 952 44 515

This information is subject to the disclosure requirements pursuant to Section

5 -12 of the Norwegian Securities Trading Act.