Borregaard

Major Shareholding Notification • Feb 17, 2020

Borregaard ASA: Trade subject to notification - shares for employees 2020

Borregaard ASA: Trade subject to notification - shares for employees 2020

17 February 2020 Borregaard ASA ("Borregaard", OSE ticker: BRG)

Reference is made to the stock exchange notice of 10 February 2020 regarding the

shares to employees programme.

The share price was fixed at NOK 77.95, after deduction of the 25% discount from

the volume weighted average market price on 14 February 2020.

The number of shares acquired by primary insiders under this year's programme,

as well as their adjusted total holdings, is specified in the attachment.

Contact:

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

This information is subject to the disclosure requirements pursuant to Section

5 - 12 of the Norwegian Securities Trading Act.