Borregaard — Remuneration Information 2025

Feb 14, 2025

Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities

Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities

14.02.25: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard's Board of Directors has issued share options in accordance with the

proxy given by the Annual General Meeting held on 11 April 2024. The total

number of options issued is 398,000.

The options will expire after five years (14 February 2030) and may be exercised

in the last two years. The strike price of the options is NOK 221.22. It is

based on the volume weighted average share price (VWAP) during the first three

trading days after the announcement of the 4th quarter 2024 results with an

addition of 10%. The strike price will be adjusted for dividend and other equity

transactions. The maximum annual gain is limited to twice the annual base salary

for the Chief Executive Officer, and the equivalent to the annual base salary

for the other option holders. At least 50% of the proceeds after tax must be

used to purchase shares in the company, and the purchased shares will be locked

for a period of three years. The members of the executive management are

expected to acquire shares until their shareholdings equal their annual base

salary, and twice the base salary for the Chief Executive Officer.

The primary insiders granted stock options today have the following holdings of

options and shares in Borregaard after the new share options were issued (new

options in parenthesis):

Per A. Sørlie holds 225,000 options (60,000) and owns 165,852 shares

Per Bjarne Lyngstad holds 57,000 options (15,000) and owns 62,455 shares

Tom Erik Foss-Jacobsen holds 78,000 options (20,000) and owns 31,274 shares

Sveinung Heggen holds 47,500 options (13,000) and owns together with related

parties 26,863 shares

Ole Gunnar Jakobsen holds 57,000 options (15,000) and owns 34,022 shares

Gisle Løhre Johansen holds 57,000 options (15,000) and owns 22,475 shares

Kristin Misund holds 47,500 options (13,000) and owns 70,223 shares

Liv Longva holds 47,500 options (13,000) and owns 12,938 shares

Knut-Harald Bakke holds 26,500 options (8,500) and owns 1,954 shares

Dag Arthur Aasbø holds 47,500 options (13,000) and owns 56,755 shares

Please, see attached notifications for persons discharging managerial

responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR)

article 19.

The total number of outstanding share options is now 1,462,000, equivalent to

1.46% of the number of shares (including 443,732 treasury shares) in Borregaard.

Contacts:

Chief Financial Officer, Per Bjarne Lyngstad, mobile +47 952 44 515

Senior Vice President Organisation and Public Affairs, Dag Arthur Aasbø, mobile

+47 918 34 108

This information is subject to the disclosure requirements pursuant to Section

3-1 of the Norwegian Securities Trading Act, cf. Regulation (EU) No 596/2014 of

the European Parliament and of the Council of 16 April 2014 on market abuse

(market abuse regulation) Article 19.