Borregaard - Director's Dealing 2019

Borregaard ASA: Mandatory notification of trade - stock options, primary insider, repurchase of own shares

On 22 August 2019 primary insider Sveinung Heggen, General Counsel, exercised

25,000 stock options at a strike price of NOK 38.75 per share.

In a related transaction, Borregaard repurchased 19,000 own shares from Sveinung

Heggen at an average price of NOK 93.05 per share. The repurchase is conducted

in accordance with a proxy given at the Ordinary General Meeting held on 11

April 2019.

After the transaction, Sveinung Heggen holds 70,000 stock options in Borregaard,

and he and related parties own 16,560 Borregaard shares.

The total number of outstanding Borregaard stock options following this

transaction is 1,501,000. Borregaard owns 376,998 treasury shares, representing

0.38% of the total number of shares outstanding.

Borregaard ASA

Sarpsborg, 22 August 2019

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.

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