BORGESTAD ASA Borgestad ,22 May 2024 :Borgestad ASA (the "Company ") has, through its wholly-owned subsidiaryBorgestad Industries AB , today entered into a contract to purchase 4.62% of the shares in HöganäsBorgestad Holding AB from one of the minority shareholders of said company. HöganäsBorgestad Holding AB is the holding company in the HöganäsBorgestad group , which operates the Company's refractory business. The Company currently owns, directly and directly, 64.20% of the shares in HöganäsBorgestad Holding AB . Following completion of the transaction, which is expected to take place at the end ofMay 2024 , the Company will, directly and indirectly, own 68.82% of the shares in HöganäsBorgestad Holding AB . An increase in ownership in HöganäsBorgestad Holding AB is considered beneficial given the HöganäsBorgestad group's financial development over the past 12 months and the expectations for further improvements in the coming periods. For further information, please contact:Pål Feen Larsen , CEO of Borgestad ASA Tel.: +47 48 84 53 33 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. AboutBorgestad | www.borgestad.noBorgestad ASA (OSE:BOR) is an investment company focused on real estate and industry. The key investments include Agora Bytom shopping center and the leading refractory manufacturer HöganäsBorgestad . About HöganäsBorgestad | www.hoganasborgestad.com HöganäsBorgestad develops, manufactures and delivers refractory products, installations and turnkey solutions that enhance the productivity and competitiveness of industrial customers. The aim is to contribute to the customers' profitability by providing high-value refractory solutions to their challenges. Today, the company is a leading supplier in the refractory market of the Nordic countries and has a global presence in a number of selected application areas.
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