Borregaard ASA: Tom Erik Foss-Jacobsen appointed CEO of Borregaard

23 May 2025 10:33 CEST

Tom Erik Foss-Jacobsen has been appointed CEO of Borregaard ASA. He succeeds Per
A. Sørlie, who will retire after 26 years in the position (see notice to Oslo
Stock Exchange 3 December 2020).
The appointment will be effective 1 August 2025.

"I am pleased that Tom Erik Foss-Jacobsen has accepted the position as CEO of
Borregaard. With Foss-Jacobsen, Borregaard will get a leader with in-depth
understanding of the business and previous experience from significant parts of
Borregaard's international operations. Over several years, he has delivered
strong results and has made a significant contribution to developing a robust
and common culture and strategic understanding throughout the company. We are
confident that he has the qualities necessary to further develop the company in
the years to come," says Helge Aasen, chair of Borregaard's Board of Directors.

Tom Erik Foss-Jacobsen is currently Executive Vice President (EVP) and head of
the BioSolutions (lignin-based biopolymers and vanillin products), a position he
has held since 2019. Prior to that, he was EVP and head of BioMaterials
(speciality cellulose and bioethanol) in Borregaard. Foss-Jacobsen holds a
master's degree in international marketing and strategy and a bachelor's degree
in civil engineering. He has more than 25 years' experience from Borregaard,
including 21 years in leadership roles.

"I have been fortunate to be part of an exciting journey in Borregaard's
commercial organisation. I'm proud of how Borregaard's highly competent
organisation has continuously advanced our specialisation strategy by growing
high-value business, driving diversification, and delivering solid results.

I approach the responsibilities of my new role with humility and a deep sense of
commitment. With a comprehensive understanding of our organisation's operations
and strategic objectives, I am confident in our collective ability to continue
driving sustainable growth and creating value for both Borregaard and its
stakeholders," says Foss-Jacobsen.

Per A. Sørlie has worked in Borregaard for 35 years and will leave the company
at the end of September 2025.

"Per A. Sørlie has made significant contributions to Borregaard over more than
26 years as CEO, following nine years in key leadership roles within the
company. He has been instrumental in shaping Borregaard's strategy, leading the
transformation into a bio-based specialty chemicals company with strong global
market positions. Since the company's listing on the Oslo Stock Exchange in
2012, Sørlie has played a pivotal role in driving substantial profit growth and
increasing shareholder value. Moreover, he has fostered a robust commercial
culture and developed leaders capable of advancing the business in the years
ahead," says Aasen.

The Board will grant Foss-Jacobsen stock options at the accession date 1 August
in accordance with the company's remuneration policy for long-term incentive
schemes.

Contacts:
Director Investor Relations, Knut-Harald Bakke, +47 905 79 164
Director Communications, Tone Horvei Bredal, +47 924 67 711

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

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