Borregaard: Initiation of share repurchase programme

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

Initiation of share repurchase programme

Borregaard intends to repurchase up to 300,000 shares of its outstanding common stock. The shares will be used for employee incentive programmes. Borregaard's Board of Directors was given authority by the shareholders at the Ordinary General Meeting held on 13 April 2016 to repurchase up to ten percent of the outstanding shares. According to the proxy, the highest price to be paid is NOK 100.00 per share.

The repurchase of shares will be conducted in a period from 28 February up to and including 7th April 2017 at the latest. All shares will be purchased in the regulated market (OSX).

Borregaard has appointed Carnegie AS to carry out the repurchase programme according to the rules and regulations of Oslo Børs (see Circular No. 2/2008).

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.