Borregaard

Transaction in Own Shares • Nov 17, 2023

Borregaard ASA: Initiation of share repurchase programme

Borregaard ASA: Initiation of share repurchase programme

17 November 2023: Borregaard ASA ("Borregaard", OSE ticker: BRG)

Borregaard intends to repurchase up to 200,000 shares of its outstanding common

stock. The shares will be used for employee incentive programmes. Borregaard's

Board of Directors was given authority by the shareholders at the Ordinary

General Meeting held on 18 April 2023 to repurchase up to ten percent of the

outstanding shares. According to the proxy, the highest price to be paid is NOK

400.00 per share.

The repurchase of shares will be conducted in a period from 20(th) November up

to and including 20(th) December 2023 at the latest. The maximum daily volume to

be purchased during the above-mentioned period is 23,843 shares. This limit

corresponds to 25% of the average daily turnover in October 2023. All shares

will be purchased in a regulated market.

Borregaard has appointed DNB Markets to carry out the repurchase programme

according to the rules and regulations of Oslo Børs (cfr. Guidelines February

2021).

Contact:

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

This information is subject to the disclosure requirements pursuant to

Regulation (EU) nr. 596/2014 on market abuse (MAR) Article 2 and Section 5-12 of

the Norwegian Securities Trading Act.