Borregaard

Transaction in Own Shares • May 16, 2018

Borregaard: Mandatory notification of trade - stock options, primary insider, repurchase of own shares

Borregaard: Mandatory notification of trade - stock options, primary insider, repurchase of own shares

16.05.2018: Borregaard ASA ("Borregaard", OSE ticker: BRG)

On 16 May 2018 primary insider Tom Erik Foss-Jacobsen, Executive Vice President,

Speciality Cellulose, exercised 30,000 stock options at a strike price of NOK

41.00 per share.

In a related transaction, Borregaard repurchased 30,000 own shares from Tom Erik

Foss-Jacobsen at an average price of NOK 86.9678 per share. The repurchase is

conducted in accordance with a proxy given at the Ordinary General Meeting held

on 12 April 2018.

After the transaction, Tom Erik Foss-Jacobsen owns 37,064 shares and 67,000

stock options in Borregaard.

The total number of outstanding Borregaard stock options following today's

transactions is 1,714,000. Borregaard owns 474,764 treasury shares, representing

0.47% of the total number of shares outstanding.

Borregaard ASA

Sarpsborg, 16 May 2018

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.