Borregaard ASA: Reporting of transactions in Borregaard ASA's shares made by person discharging managerial responsibilities

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

Borregaard's Board of Directors has issued share options in accordance with the proxy given by the Annual General Meeting held on 10 April 2025. The total number of options issued is 393,000.

The options will expire after five years (23 February 2031) and may be exercised in the last two years. The strike price of the options is NOK 193.27. It is based on the volume weighted average share price (VWAP) during the first three trading days after the announcement of the 4th quarter 2025 results with an addition of 10%. The strike price will be adjusted for dividend and other equity transactions. The maximum annual gain is limited to twice the annual base salary for the Chief Executive Officer, and the equivalent to the annual base salary for the other option holders. At least 50% of the proceeds after tax must be used to purchase shares in the company, and the purchased shares will be locked for a period of three years. The members of the executive management are expected to acquire shares until their shareholdings equal their annual base salary, and twice the base salary for the Chief Executive Officer.

The primary insiders granted stock options today have the following holdings of options and shares in Borregaard after the new share options were issued (new options in parenthesis):

Tom Erik Foss-Jacobsen holds 153,000 options (60,000) and owns 31,875 shares

Knut-Harald Bakke holds 46,500 options (20,000) and owns 2,555 shares

Gisle Løhre Johansen holds 63,000 options (16,000) and owns 22,475 shares

Ole Gunnar Jakobsen holds 63,000 options (16,000) and owns 34,909 shares

Per Bjarne Lyngstad holds 63,000 options (16,000) and owns 63,056 shares

Kristin Misund holds 52,500 options (13,000) and owns 70,223 shares

Liv Longva holds 52,500 options (13,000) and owns 13,539 shares

Dag Arthur Aasbø holds 52,500 options (13,000) and owns 57,356 shares

Kari Strande holds 21,500 options (13,000) and owns 4,772 shares

Sveinung Heggen holds 52,500 options (13,000) and owns together with related parties 27,864 shares

Pål Espen Ramberg holds 34,500 options (8,000) and owns together with related parties 13,439 shares



Please, see attached notifications for persons discharging managerial responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR) article 19.

The total number of outstanding share options is now 1,627,500, equivalent to 1.63% of the number of shares (including 268,463 treasury shares) in Borregaard.

Contact:

Lotte Kvinlaug, Investor Relations Officer,

This information is subject to the disclosure requirements pursuant to Section 3-1 of the Norwegian Securities Trading Act, cf. Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) Article 19.

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