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

Today, primary insider Tom Erik Foss-Jacobsen, Executive Vice President (EVP), exercised 13,350 stock options at a strike price of NOK 65.95 per share and 5,000 stock options at a strike price of NOK 70.30 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, Tom Erik Foss-Jacobsen owns 29,734 shares and holds 70,000 stock options in Borregaard. The total number of outstanding Borregaard stock options following this transaction is 1,215,880. Borregaard owns 437,522 treasury shares, representing 0.44% of the total number of shares outstanding. Borregaard ASA Sarpsborg, 13 December 2022 Contact: Lotte Kvinlaug, Investor Relations Officer, +47 922 86 909 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.