Reporting of transactions in Borregaard ASA's share options by person discharging managerial responsibilities

16.02.2026: Borregaard ASA ("Borregaard", OSE ticker: BRG)

The following persons discharging managerial responsibilities (primary insiders) have on 16.02.2026 exercised the number of share options as shown below at a strike price of NOK 164.45 per share and in separate transactions, purchased and sold the same number of shares. After the transactions the persons have the following holdings of options and shares in Borregaard (exercised share options in parenthesis):

Tom Erik Foss-Jacobsen holds 93,000 options (15,000) and owns 31,875 shares
Per Bjarne Lyngstad holds 47,000 options (10,000) and owns 63,056 shares
Gisle Løhre Johansen holds 47,000 options (10,000) and owns 22,475 shares
Kristin Misund holds 39,500 options (8,000) and owns 70,223 shares
Liv Longva holds 39,500 options (8,000) and owns 13,539 shares
Dag Arthur Aasbø holds 39,500 options (8,000) and owns 57,356 shares

Pål Espen Ramberg exercised 6,000 stock options at a strike price of NOK 164.45 per share, and in separate transactions, purchased 6,000 and sold 5,914 shares. After the transactions Pål Espen Ramberg holds 26,500 options and own 13,439 shares together with related parties.

Sveinung Heggen exercised 8,000 stock options at a strike price of NOK 164.45 per shares, and in separate transactions, purchased 8,000 and sold 7,600 shares. After the transactions Sveinung Heggen holds 39,500 options and own 27,864 shares together with related parties.

Ole Gunnar Jakobsen exercised 10,000 stock options at a strike price of NOK 164.45 per share, and in separate transactions, purchased 10,000 and sold 9,714 shares. After the transactions Ole Gunnar Jakobsen holds 47,000 options and owns 34,909 shares.

Please, see attached notifications for persons discharging managerial responsibilities in Borregaard in accordance with Regulation EU 596/2014 (MAR) article 19.

Borregaard issued the share options on 16.02.2021 and the last possible day of exercise was 16.02.2026.

The total number of outstanding share options is now 1,264,500 equivalent to 1.3% of the number of shares (including 268,893 treasury shares) in Borregaard.

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.

Attachment

• Borregaard ASA - Notification primary insiders