Borregaard ASA has issued a commercial paper ISIN NO0011009029 of NOK 100,000,000. Start date: 25 May, 2021 Maturity: 25 November, 2021 Coupon: 0,50 % Organised by: Handelsbanken Capital Markets Sarpsborg, 20 May 2021 Contact:CFO, Per Bjarne Lyngstad, mobile +47 952 44 515 This information is subject to the disclosure requirements pursuant to Section 5 -12 of the Norwegian Securities Trading Act.  

Today, primary insider Tom Erik Foss-Jacobsen, Executive Vice President (EVP), exercised 17,000 stock options at a strike price of NOK 91.56 per share and 3,000 stock options at a strike price of NOK 70.95 per share, and in separate transactions purchased and sold 20,000 shares. 1.        Details of the person discharging managerial responsibilities/person closely associated a)        Name: Tom Erik Foss-Jacobsen 2.        Reason for the notification a)        Position/status: Executive Vice President b)        Initial notification/Amendment: Initial notification3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)        Name: Borregaard ASAb)        LEI: 5967007LIEEXZXGYXC05 4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a)      Description of the financial instrument, type of instrument: Stock optionIdentification code: N/Ab)      Nature of the transaction: Exercise of stock option linked to a stock option programmec)      Price(s) and volume(s): Price(s)        Volume(s) -------------------------------------- NOK 91.56     17,000 NOK 70.95      3,000 -------------------------------------- d)        Aggregated information Aggregated volume: 20,000Price: NOK 88.4685Total sum: NOK 1,769,370 e)        Date of the transaction: 2021-05-07; 15:30 CET f)        Place of the transaction: Outside a trading venue 5.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a)      Description of the financial instrument, type of instrument: SharesIdentification code: NO0010657505 b)      Nature of the transaction: Purchase of shares linked to a stock option programme c)      Price(s) and volume(s): Price(s)      Volume(s) -------------------------------------- NOK 91.56    17,000 NOK 70.95     3,000 -------------------------------------- d)        Aggregated information Aggregated volume: 20,000Price: NOK 88.4685Total sum: NOK 1,769,370 e)        Date of the transaction: 2021-05-07; 15:30 CET f)        Place of the transaction: Outside a trading venue 6.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a)      Description of the financial instrument, type of instrument: SharesIdentification code: NO0010657505 b)        Nature of the transaction: Sale of shares linked to a stock option programme c)        Price(s) and volume(s): NOK 185.48 and 20,000 d)        Aggregated information Aggregated volume: 20,000 Price: NOK 185.48 Total sum: NOK 3,709,600 e)        Date of the transaction: 2021-05-07; 15:30 CET f)        Place of the transaction: Outside a trading venue After the transactions, Tom Erik Foss-Jacobsen owns 29,321 shares and holds 82,000 stock options in Borregaard. The total number of outstanding Borregaard stock options following this transaction is 1,456,136. Borregaard owns 453,702 treasury shares, representing 0.45% of the total number of shares outstanding. Borregaard ASASarpsborg, 7 May 2021 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.  

Today, primary insider Ole Gunnar Jakobsen, Plant Director, Sarpsborg Site, exercised 15,000 stock options at a strike price of NOK 91.56 per share, and in separate transactions, purchased and sold the same number of shares. 1.        Details of the person discharging managerial responsibilities/person closely associated a)        Name: Ole Gunnar Jakobsen 2.        Reason for the notificationa)        Position/status: Plant Director, Sarpsborg Site b)        Initial notification/Amendment: Initial notification 3.        Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a)        Name: Borregaard ASAb)        LEI: 5967007LIEEXZXGYXC05 4.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a)      Description of the financial instrument, type of instrument: Stock optionIdentification code: N/A b)        Nature of the transaction: Exercise of stock option linked to a stock option programmec)        Price(s) and volume(s): NOK 91.56 and 15,000d)        Aggregated informatione)        Date of the transaction: 2021-04-30; 15:30 CETf)        Place of the transaction: Outside a trading venue 5.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted a)      Description of the financial instrument, type of instrument: SharesIdentification code: NO0010657505 b)        Nature of the transaction: Purchase of shares linked to a stock option programmec)        Price(s) and volume(s): NOK 91.56 and 15,000d)        Aggregated informatione)        Date of the transaction: 2021-04-30; 15:30 CETf)        Place of the transaction: Outside a trading venue 6.        Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducteda)        Description of the financial instrument, type of instrument: Shares Identification code: NO0010657505 b)        Nature of the transaction: Sale of shares linked to a stock option programmec)        Price(s) and volume(s): NOK 179.51 and 15,000d)        Aggregated information e)        Date of the transaction: 2021-04-30; 15:30 CETf)        Place of the transaction: Outside a trading venue After the transactions, Ole Gunnar Jakobsen owns 32,069 shares and holds 65,000 stock options in Borregaard. The total number of outstanding Borregaard stock options following this transaction is 1,476,136. Borregaard owns 453,702 treasury shares, representing 0.45% of the total number of shares outstanding. Borregaard ASASarpsborg, 30 April 2021 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.