Borregaard — Transaction in Own Shares 2014

May 9, 2014

Borregaard: Mandatory notification of trade options - Primary insider - repurchasing of own shares

Borregaard: Mandatory notification of trade options - Primary insider - repurchasing of own shares

09.05.2014: Borregaard ASA ("Borregaard", OSE ticker: BRG)

On 9 May 2014, in connection with Borregaard's option programme, primary insider

Gisle Løhre Johansen, SVP New Business Development/R&D and EVP Fine Chemicals,

exercised 27 000 options in Borregaard shares at a strike price of NOK 17.93 per

share and 75 000 options in Borregaard shares at a strike price of NOK 20.40 per

share.

In the same transaction, Borregaard repurchased 87 466 own shares from the

primary insider Gisle Løhre Johansen at an average price of NOK 44.1699 per

share. The repurchase is conducted in accordance with a proxy given at the

Ordinary General Meeting held on 23 April 2014.

After the transaction, Gisle Løhre Johansen owns 29 184 shares and 0 options in

Borregaard.

After the transaction, the total number of options issued in Borregaard shares

is 953 800. Borregaard owns 818 434 treasury shares representing 0.82% of total

shares outstanding.

Borregaard ASA

Sarpsborg, 9 May 2014

Contact:

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

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1784267]