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

Today, primary insider Per Sørlie, President & CEO, exercised 45,000 stock options at a strike price of NOK 65.95 per share, and in separate transactions, purchased and sold the same number of shares. The shares are drawn from Borregaard's holdings of treasury shares. Please, see attached notifications for persons discharging managerial responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR) article 19. After the transactions, Per Sørlie owns 164,312 shares and holds 190,000 stock options in Borregaard. Today, primary insider Per Bjarne Lyngstad, Chief Financial Officer (CFO), exercised 16,136 stock options at a strike price of NOK 65.95 per share and in separate transactions, purchased and sold the same number of shares. The shares are drawn from Borregaard's holdings of treasury shares. Please, see attached notifications for persons discharging managerial responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR) article 19. After the transactions, Per Bjarne Lyngstad owns 60,915 shares and holds 58,000 stock options in Borregaard. Today, primary insider Dag Arthur Aasbø, Senior Vice President (SVP), exercised 12,000 stock options at a strike price of NOK 65.95 per share and 2,000 stock options at a strike price of NOK 70.30 per share, and in separate transactions, purchased 14,000 and sold 13,500 shares. The shares are drawn from Borregaard's holdings of treasury shares. Please, see attached notifications for persons discharging managerial responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR) article 19. After the transactions, Dag Arthur Aasbø owns 55,215 shares and holds 42,500 stock options in Borregaard. The total number of outstanding Borregaard stock options following these transactions is 1,330,331. Borregaard owns 246,541 treasury shares, representing 0.25% of the total number of shares outstanding. Borregaard ASA Sarpsborg, 6 May 2022 Contact: Dag Arthur Aasbø, Senior Vice President, +47 918 34 108 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.