Disclosure in Borregaard ASA

The mutual funds managed by Nordea Funds Ltd have on August 5th, 2019 reduced
their holdings by 124.033 to 4,949,583.00 voting rights in Borregaard ASA.

The total number of voting rights managed by Nordea Funds Ltd constitute the
equivalent of 4.94958% of total voting rights, crossing the 5% ownership threshold.

The ownership of shares constitute 4.83020% of total shares outstanding.