Borgestad ASA: Result of offer to buy back own shares

02 Jun 2026 19:28 CEST

Lysaker, 2 June 2026: Reference is made to the stock exchange announcement
published by Borgestad ASA (the “Company”) on 27 May 2026 regarding the launch
of an offer to buy back existing shares in the Company (the “Offer”), and to the
announcements published on 1 June 2026 regarding fixing of the purchase price at
NOK 17 per share (the “Offer Price”) and the upsizing of the Offer and extension
of the application period.

The application period for the Offer closed today, 2 June 2026, at 16:30 hours
(CEST).

Following the expiry of the application period, the Company has resolved to
purchase a total of 180,000 shares in the Company at the Offer Price for a total
consideration of NOK 3,060,000.

Notification of allocation will be sent to the shareholder having been allocated
sale shares in the Offer on 3 June 2026. Settlement of the share purchase is
expected on 5 June 2026 on a standard delivery-versus-payment (DVP) basis.

Following settlement of the Offer, the Company will own a total of 180,000 own
shares, corresponding to approx. 0.5 % of the Company’s share capital.

For further information, please contact:

Pål Feen Larsen, CEO of Borgestad ASA
Tel.: +47 48 84 53 33

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The information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 of the Norwegian Securities Trading Act.

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 | www.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.

IMPORTANT NOTICE

The Offer was be carried out in accordance with applicable laws and regulations
and information pertaining to the Offer was disclosed by way of stock exchange
notices.

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions
(including, but not limited to, the United States, Canada, Australia and Japan).
None of the Company or Arctic Securities AS (acting as manager in the Offer)
assume any responsibility in the event there is a violation by any person of
such restrictions. This includes shareholders who have changed their domicile to
such jurisdictions but which may access their ES-OSL accounts. Persons into
whose possession this announcement or relevant information should come are
required to inform themselves about and to observe any such restrictions.

The Offer was not made directly or indirectly in, or by use of the mails of, or
by any means or instrumentality of interstate or foreign commerce of, or any
facilities of a national securities exchange of, the United States of America,
its territories and possessions, any State of the United States and the District
of Columbia (the "United States") or any other jurisdiction in which this would
be unlawful, require registration or other measures. This includes, but is not
limited to, facsimile transmission, internet delivery, e-mail and telephones.
Copies of this release and any related documents are not being, and must not be,
mailed, e-mailed or otherwise distributed or sent in or into the United States
or any such jurisdiction and so doing may invalidate any purported offer and
acceptance.

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