Borgestad, 27 December 2023: Höganäs Borgestad, a subsidiary of Borgestad AS
(the "Company"), has today repaid its tax debt to Swedish tax authorities of SEK
75.4 million, with the addition of outstanding interest, through a voluntary
early repayment.

The tax debt was originally payable in instalments in 2024, 2025 and 2026, and
the early repayment is prompted by improved liquidity in the group following
receipt of payment in accordance with the result of the arbitration case in
Vienna, as announced in the Company's stock exchange notification on 19 December
2023, and an improved working capital situation in Höganäs Borgestad.

For further information, please contact:
Pål Feen Larsen, CEO Borgestad ASA, +47 488 45 333
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This information is subject to the disclosure requirements pursuant to section
5-12 the Norwegian Securities Trading Act. 
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About Borgestad| www.borgestad.no
Borgestad 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 Höganäs Borgestad.  
About Höganäs Borgestad | https://hoganasborgestad.com/ 
Höganäs Borgestad 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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