Borregaard — M&A Activity 2016

Dec 9, 2016

Borregaard: Florida lignin investment approved

Borregaard: Florida lignin investment approved

The board of directors of Borregaard and Rayonier Advanced Materials have

decided to go ahead with the investment project in Florida after securing

necessary permits as well as incentives from local authorities. Phase one of the

project is expected to be completed mid- 2018, and will represent a capacity of

100,000 metric tonnes lignin. The parties are in the process of securing

external financing for about half of the USD 110 million investment for phase

one. LignoTech Florida LLC is owned 55% by Borregaard and 45% by Rayonier

Advanced Materials.

See also stock exchange notices dated 28 June 2016, 17 December and 1 June 2015.

Sarpsborg, 9 December 2016

Contact:

Jørn Syvertsen, Director Investor Relations, +47 958 36 335

This information is subject to the disclosure requirements pursuant to Section

5-12 of the Norwegian Securities Trading Act.