Borregaard - Earnings Release 2026

Borregaard ASA: EBITDA1 of NOK 428 million in the 1st quarter

Borregaard's operating revenues were NOK 2,005 million (NOK 2,036 million) in

the 1(st) quarter of 2026. EBITDA(1) was NOK 428 million (NOK 511 million). The

result in Fine Chemicals increased, while BioSolutions and BioMaterials had

lower results compared with the 1(st) quarter of 2025.

Within BioSolutions' specialities, lower sales volume was partly compensated by

higher sales prices. The lower sales volume was due to a temporary delay in the

value chain, driven by geopolitical factors, broader uncertainty, and customer

destocking. For BioMaterials, higher deliveries of speciality cellulose were

offset by lower sales prices and a weaker product mix. In Fine Chemicals, higher

deliveries and a favourable product mix within fine chemical intermediates were

the main reasons for the improved result. Net currency effects were

insignificant for the Group.

Profit before tax was NOK 230 million (NOK 319 million). Earnings per share were

NOK 1.82 (NOK 2.52).

"While BioSolutions was impacted by a temporary delay in the value chain, demand

for speciality cellulose increased and Fine Chemicals delivered a strong

performance. Overall results were affected by continued cost pressure, partly

driven by geopolitical developments. We are implementing targeted measures to

address the cost", says CEO Tom Erik Foss-Jacobsen.

Contacts:

Director Investor Relations, Pål Espen Ramberg, +47 959 17 333

Director Communications, Tone Horvei Bredal, +47 924 67 711

1. Operating profit before depreciation, amortisation and other income and

expenses

2. Figures in parentheses are for the corresponding period in the preceding year

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to Section 5 - 12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Lotte Kvinlaug, Investor

Relations Officer at Borregaard ASA, on 29 April 2026 at 07:00 CEST.

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