Borregaard

Regulatory Filings • Dec 13, 2018

Borregaard: Prolongation of EU Horizon 2020 funding period for the Exilva project

Borregaard: Prolongation of EU Horizon 2020 funding period for the Exilva project

In 2016 a consortium of European companies and research institutions, with

Borregaard as a lead member, was granted financial support from the Bio-Based

Industries Joint Undertaking for the development and commercialisation of

Borregaard's Exilva microfibrillar cellulose under the European Union's Horizon

2020 Flagship programme. The support was given for the three-year period 1 May

2016 - 30 April 2019. In this period, 60% of Borregaard's costs would be covered

up to a maximum support amount of 25 MEUR.

With the current run rate the granted amount will not be fully utilised within

the three-year period. The consortium has therefore applied for a 12-months

prolongation of the grant period without increasing the total amount. The

application has been approved by the Commission, and the grant period will

therefore be prolonged until 30 April 2020.

For background information please see stock exchange notices of 22 April and 16

March 2016.

Sarpsborg, 13.12.2018

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.