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

13 February 2023 Borregaard ASA (“Borregaard”, OSE ticker: BRG)

Reference is made to the stock exchange notice of 6 February 2023 regarding the shares to employees’ programme.

The share price was fixed at NOK 132.46, after deduction of the 25% discount from the volume weighted average market price on 10 February 2023.

In connection with this programme, the following primary insiders have bought shares:

Per A. Sørlie, President & CEO has bought 498 shares. Following this transaction Per A. Sørlie owns 164,810 shares and holds 190,000 stock options in Borregaard.

Per Bjarne Lyngstad, Chief Financial Officer (CFO), bought 498 shares. Following this transaction, Per Bjarne Lyngstad owns 61,413 shares and holds 58,000 stock options in Borregaard.

Tom Erik Foss-Jacobsen, Executive Vice President (EVP), bought 498 shares. Following this transaction Tom Erik Foss-Jacobsen owns 30,232 shares and holds 70,000 stock options in Borregaard.

Dag Arthur Aasbø, Senior Vice President (SVP), bought 498 shares. Following this transaction Dag Arthur Aasbø owns 55,713 shares and holds 42,500 stock options in Borregaard.

Gisle Løhre Johansen, Executive Vice President (EVP), bought 498 shares. Following this transaction Gisle Løhre Johansen owns 21,974 shares and holds 38,000 stock options in Borregaard.

Ole Gunnar Jakobsen, Plant Director, Sarpsborg Site, bought 498 shares. Following this transaction Ole Gunnar Jakobsen owns 32,980 shares and holds 58,000 stock options in Borregaard.

Sveinung Heggen, General Counsel, bought 498 shares. Following this transaction Sveinung Heggen and related parties own 25,821 shares and holds 44,500 stock options in Borregaard.

Liv Longva, Senior Vice President (SVP), bought 498 shares. Following this transaction Liv Longva owns 11,896 shares and holds 29,500 stock options in Borregaard.

Knut-Harald Bakke, Director Investor Relations, bought 498 shares. Following this transaction Knut-Harald Bakke owns 912 shares and holds 5,000 stock options in Borregaard.

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

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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