Borregaard — Director's Dealing 2015

Nov 3, 2015

Borregaard: Trade subject to notification - shares for employees 2015

Borregaard: Trade subject to notification - shares for employees 2015

3 November 2015: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Reference is made to the stock exchange notice of 26 October 2015 regarding the

shares to employees program.

The share price was fixed at NOK 32.01, after deduction of the 30% discount from

the volume weighted average market price on 2 November 2015.

The number of shares acquired by primary insiders under this year's program, as

well as their adjusted total holdings, is specified in the attachment.

Contact

Lotte Kvinlaug, Investor Relations Officer, +47 922 86 909

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

[HUG#1963566]