Borregaard

Director's Dealing • Feb 17, 2022

Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities

Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities

17.02.2022: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard's Board of Directors has issued share options in accordance with the

proxy given by the Annual General Meeting held on 14 April 2021. The total

number of options issued is 200,000.

The options will expire after five years (17 February 2027) and may be exercised

in the last two years. The strike price of the options is NOK 228.75. It is

based on the volume weighted average share price (VWAP) during the first three

trading days after the announcement of the 4th quarter 2021 results with an

addition of 10%. The strike price will be adjusted for dividend and other equity

transactions. The maximum annual gain is limited to twice the annual base salary

for the Chief Executive Officer, and the equivalent to the annual base salary

for the other option holders. At least 50% of the proceeds after tax must be

used to purchase shares in the company, and the purchased shares will be locked

for a period of three years. The members of the executive management are

expected to acquire shares until their shareholdings equal their annual base

salary, and twice the base salary for the Chief Executive Officer.

The primary insiders granted stock options today have the following holdings of

options and shares in Borregaard after the new share options were issued (new

options in parenthesis):

Per A. Sørlie holds 235,000 options (30,000) and owns 164,312 shares

Per Bjarne Lyngstad holds 74,136 (8,000) and owns 60,915 shares

Tom Erik Foss-Jacobsen holds 88,350 options (10,000) and owns 29,734 shares

Sveinung Heggen holds 58,200 options (6,500) and owns together with related

parties 24,823 shares

Ole Gunnar Jakobsen holds 69,425 options (8,000) and owns 32,482 shares

Gisle Løhre Johansen holds 63,750 options (8,000) and owns 21,476 shares

Kristin Misund holds 29,500 options (6,500) and owns 70,223 shares

Liv Longva holds 44,500 options (6,500) and owns 11,398 shares

Dag Arthur Aasbø holds 56,500 options (6,500) and owns 54,715 shares

Please, see attached notifications for persons discharging managerial

responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR)

article 19.

The total number of outstanding share options is now 1,436,274, equivalent to

1.44% of the number of shares (including 414,862 treasury shares) in Borregaard.

Contacts:

Chief Financial Officer, Per Bjarne Lyngstad, mobile +47 952 44 515

Senior Vice President Organisation and Public Affairs, Dag Arthur Aasbø, mobile

+47 918 34 108

This information is subject to the disclosure requirements pursuant to Section

3-1 of the Norwegian Securities Trading Act, cf. Regulation (EU) No 596/2014 of

the European Parliament and of the Council of 16 April 2014 on market abuse

(market abuse regulation) Article 19.