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

12 February 2024 Borregaard ASA (“Borregaard”, OSE ticker: BRG)

Reference is made to the stock exchange notice of 5 February 2024 regarding the shares to employees’ programme.

The share price was fixed at NOK 129.18, after deduction of the 25% discount from the volume weighted average market price on 9 February 2024.

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

Per A. Sørlie, President & CEO has bought 541 shares. Following this transaction Per A. Sørlie owns 165,351 shares and holds 170,000 stock options in Borregaard.

Per Bjarne Lyngstad, Chief Financial Officer (CFO), bought 541 shares. Following this transaction, Per Bjarne Lyngstad owns 61,954 shares and holds 48,000 stock options in Borregaard.

Tom Erik Foss-Jacobsen, Executive Vice President (EVP), bought 541 shares. Following this transaction Tom Erik Foss-Jacobsen owns 30,773 shares and holds 60,000 stock options in Borregaard.

Dag Arthur Aasbø, Senior Vice President (SVP), bought 541 shares. Following this transaction Dag Arthur Aasbø owns 56,254 shares and holds 37,500 stock options in Borregaard.

Ole Gunnar Jakobsen, Plant Director, Sarpsborg Site, bought 541 shares. Following this transaction Ole Gunnar Jakobsen owns 33,521 shares and holds 48,000 stock options in Borregaard.

Sveinung Heggen, General Counsel, bought 541 shares. Following this transaction Sveinung Heggen and related parties own 26,362 shares and holds 37,500 stock options in Borregaard.

Liv Longva, Senior Vice President (SVP), bought 541 shares. Following this transaction Liv Longva owns 12,437 shares and holds 37,500 stock options in Borregaard.

Knut-Harald Bakke, Director Investor Relations, bought 541 shares. Following this transaction Knut-Harald Bakke owns 1,453 shares and holds 10,000 stock options in Borregaard.

Arundel Kristiansen, employee elected member of the board of Borregaard ASA, bought 541 shares. Following this transaction Arundel Kristiansen owns 1,447 shares in Borregaard.

Roy Kåre Appelgren, observer of the board of Borregaard ASA, bought 541 shares. Following this transaction Roy Kåre Appelgren owns 2,800 shares 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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