Borregaard - Share Issue/Capital Change 2024

Borregaard ASA: Borregaard invests further into Alginor

Borregaard has participated with its fully diluted pro-rata share (35%) in the

NOK 400 million capital raise in the marine biotech company Alginor to fund the

next step of the biorefinery expansion. The funds from Borregaard were pre-

committed. In aggregate the committed investments into Alginor from Borregaard

will now total approximately NOK 408 million.

Alginor intends to carry out a repair offering directed towards existing

shareholders and potential new shareholders. A subsequent offering towards

Borregaard will be made to ensure that Borregaard retains its 35% fully diluted

ownership in Alginor.

For more information about Alginor and the capital raise,

see?https://alginor.no/.

Contact:

Director Investor Relations, Knut-Harald Bakke, +47 905 79 164

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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