Borregaard

Transaction in Own Shares • Nov 24, 2022

Borregaard ASA: Share buy-back programme completed

Borregaard ASA: Share buy-back programme completed

24.11.2022: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Reference is made to the stock exchange notice of 4 November 2022 where

Borregaard announced the intent to repurchase up to 200,000 of its outstanding

common stock. The repurchase of shares will be conducted in a period from 7

November up to and including 15 December 2022 at the latest.

Borregaard has in the period from 16 November up to and including 24 November in

total purchased 100,944 own shares through broker at an average price of NOK

152.88 per share. By these transactions, Borregaard has completed its share buy-

back programme by repurchasing 200,000 shares of its outstanding common stock.

Aggregated overview of transactions per day:

+---------------------+------------------+----------------+--------------------+

|Date |Aggregated daily |Weighted average|Total daily |

| |volume (number of |share price per |transaction value |

| |shares) |day (NOK) |(NOK) |

+---------------------+------------------+----------------+--------------------+

|16.11.22 |15,100 |145.1570 |2,191,870.70 |

+---------------------+------------------+----------------+--------------------+

|17.11.22 |14,997 |145.2627 |2,178,504.71 |

+---------------------+------------------+----------------+--------------------+

|18.11.22 |15,100 |153.3753 |2,315,967.03 |

+---------------------+------------------+----------------+--------------------+

|21.11.22 |15,040 |153.9245 |2,315,024.48 |

+---------------------+------------------+----------------+--------------------+

|22.11.22 |15,100 |155.2395 |2,344,116.45 |

+---------------------+------------------+----------------+--------------------+

|23.11.22 |15,049 |160.0090 |2,407,975.44 |

+---------------------+------------------+----------------+--------------------+

|24.11.22 |10,558 |159.0372 |1,679,114.76 |

+---------------------+------------------+----------------+--------------------+

|  |  |  |  |

+---------------------+------------------+----------------+--------------------+

|  |  |  |  |

+---------------------+------------------+----------------+--------------------+

|Previously disclosed |99,056 |142.72 |14,137,649.79 |

|buy-backs under the | | | |

|programme | | | |

|(accumulated) | | | |

+---------------------+------------------+----------------+--------------------+

|Accumulated under the|200,000 |147.85 |29,570,223.36 |

|buy-back programme | | | |

+---------------------+------------------+----------------+--------------------+

The issuer's holding of own shares:

Following the completion of the above transactions, Borregaard owns a total of

439,804 of own shares, corresponding to 0.44% of Borregaard's share capital.

Appendix:

A detailed overview of all transactions made under the buy-back programme that

have been carried out during the above-mentioned period is attached to this

report and available at www.newsweb.no (http://www.newsweb.no).

Contact:

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

This information is subject to the disclosure requirements pursuant to

Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 Article 2 section

3 and Section 5-12 of the Norwegian Securities Trading Act.