Borregaard - Director's Dealing 2023

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

Today, primary insider Gisle Løhre Johansen, Executive Vice President (EVP),

exercised 5,100 stock options at a strike price of NOK 91.35 per share and in

separate transactions, purchased and sold the same number of shares.

The shares are drawn from Borregaard's holdings of treasury shares.

Please, see attached notifications for persons discharging managerial

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

article 19.

After the transactions, Gisle Løhre Johansen owns 21,974 shares and holds

42,900 stock options in Borregaard.

The total number of outstanding Borregaard stock options following this

transaction is 1,150,450. Borregaard owns 243,604 treasury shares, representing

0.24% of the total number of shares outstanding.

Borregaard ASA

Sarpsborg, 5 June 2023

Contact:

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

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.

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