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Borregaard Director's Dealing 2017

May 4, 2017

Director's Dealing

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Borregaard: Mandatory notification of trade - primary insider

Jon Erik Reinhardsen, member of the board of Borregaard ASA (ticker: "BRG"), has

on 04 May 2017 acquired 2000 shares in Borregaard ASA at a price of NOK 93,75

per share. Following this transaction, Jon Erik Reinhardsen owns 2000 shares in

Borregaard ASA.

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.