Borregaard — Earnings Release 2015

Mar 25, 2015

Borregaard: Restatement of business segments

Borregaard: Restatement of business segments

25 March 2015: Borregaard ASA ("Borregaard", OSE ticker: BRG)

From 1 January 2015, Borregaard has made changes to the internal reporting of

its segments. BALI project costs will be reported as part of Performance

Chemicals (previously reported as part of Other Businesses). The Exilva project

will be reported as part of Other Businesses (previously reported as part of

Specialty Cellulose).

Restated figures reflecting the changes are attached.

Contact

Per Bjarne Lyngstad, CFO, Cell phone: +47 952 44 515

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.

[HUG#1905822]