Borregaard: The Board of Directors' dividend proposal to Borregaard's Annual General Meeting

10 February 2017: Borregaard ASA ("Borregaard", OSE ticker: BRG)

At a meeting on 9 February 2017 the Board of Directors decided to propose an ordinary dividend for 2016 of NOK 1.75 per share to the Annual General Meeting. In addition, the Board of Directors has decided to propose an extraordinary dividend of NOK 1.75 per share due to increased earnings and a strong cash flow. In total, the proposed dividend is NOK 3.50 per share. Dividend payment is estimated at NOK 349 million. The exact amount will depend on the number of treasury shares held at the date of the Annual General Meeting. No dividend will be paid on treasury shares held by the Borregaard Group.

Provided that the traded shares are subject to ordinary settlement in the Norwegian Securities Register (VPS), shares acquired up to and including 20 April 2017 will carry the right to receive dividends, whereas shares that are acquired on and after 21 April 2017 will not carry the right to receive dividends. Subject to the decision of the Annual General Meeting, the dividend will be paid on 3 May 2017 to shareholders registered in the company's shareholders' register as evidenced in a transcript as of 24 April 2017.

The share will be quoted ex dividend on 21 April 2017.

The Annual General Meeting of Borregaard ASA will be held on Thursday 20 April 2017 at 2 p.m. (14:00 CET) at Felix Konferansesenter, Bryggetorget 3, Vika, Oslo.

Borregaard's Annual Report for 2016 will be released on 30 March 2017.

Jørn Syvertsen, Director Investor Relations, +47 958 36 335
Lotte Kvinlaug, Investor Relations Officer, +47 922 86  909

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.