Borregaard ASA: Mandatory notification of trade - primary insider

Bente Seljebakken Klausen, observer of the Board of Borregaard ASA, has on 15
September 2020 sold 500 shares in Borregaard ASA at a price of NOK 133,00 per
share. Following this transaction, Bente Seljebakken Klausen and related parties
own 1,988 shares in Borregaard ASA.

Sarpsborg, 15 September 2020

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

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