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

Today, Sveinung Heggen, General Counsel, exercised 13,700 stock options at a strike price of NOK 65.95 per share, and in separate transactions purchased 13,700 shares and sold 13,200 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, Sveinung Heggen and related parties own 25,323 shares and holds 44,500 stock options in Borregaard. The total number of outstanding Borregaard stock options following this transaction is 1,182,800. Borregaard owns 434,053 treasury shares, representing 0.43% of the total number of shares outstanding. Borregaard ASA Sarpsborg, 2 February 2023 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.