Borregaard — Share Issue/Capital Change 2017

Feb 20, 2017

Borregaard: Trade subject to notification - shares for employees 2017

Borregaard: Trade subject to notification - shares for employees 2017

20 February 2017 Borregaard ASA ("Borregaard", OSE ticker: BRG)

Reference is made to the stock exchange notice of 13 February 2017 regarding the

shares to employees program.

The share price was fixed at NOK 65.07, after deduction of the 30% discount from

the volume weighted average market price on 17 February 2017.

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