Borregaard — Director's Dealing 2023

May 5, 2023

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

Today, primary insider Ole Gunnar Jakobsen, Plant Director, Sarpsborg Site,

exercised 18,450 stock options at a strike price of NOK 67.05 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, Ole Gunnar Jakobsen owns 32,980 shares and holds 49,550

stock options in Borregaard.

The total number of outstanding Borregaard stock options following this

transaction is 1,155,550. Borregaard owns 243,604 treasury shares, representing

0.24% of the total number of shares outstanding.

Borregaard ASA

Sarpsborg, 5 May 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.