Borregaard

Transaction in Own Shares • Jun 25, 2020

Correction: Borregaard ASA: Stock options exercised, repurchase of own shares

Correction: Borregaard ASA: Stock options exercised, repurchase of own shares

This is a correction of the announcement from 16:06 24.06.2020 CET. Reason for

the correction:

In the announcement dated 24 June 2020 it was incorrectly informed that 3,000

stock options, granted under Borregaard's option programme, were exercised at a

strike price of NOK 51.49 per share. The correct strike price is NOK 39.94 per

share.

The correct announcement is as follows:

Yesterday 3,000 stock options, granted under Borregaard's option programme, were

exercised at a strike price of NOK 39.94 per share. In a related transaction,

Borregaard repurchased 2,489 own shares at an average price of NOK 105.03 per

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

Ordinary General Meeting held on 15 June 2020.

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

is 1,555,207. Borregaard owns 406,829 treasury shares representing 0.41% of

total shares outstanding.

Borregaard ASA

Sarpsborg, 25 June 2020

This information is subject to the disclosure requirements pursuant to Section

5 -12 of the Norwegian Securities Trading Act.