Issuer: Borgestad ASA (the "Company")
ISIN for the bond loan: NO0010907736
Date of redemption:  20 December 2023
Redemption amount: NOK 100,000,000
Redemption price: 100% of nominal value 

Reference is made to the Company's announcement on 6 December 2023, where the
Company informed of the exercise of its Call Option and redemption of all
outstanding bonds.

The exercise of the call option was subject to certain conditions set out in the
call option notice being satisfied or waived by the Company no later than 15
December 2023. We hereby confirm that the conditions to the call option notice
have been satisfied, and that all outstanding bonds will be redeemed as planned.

The Company will redeem the remaining NOK 100,000,000 principal amount (plus
accrued and unpaid interest to but not including the redemption date) at a
redemption price equal to 100% of the nominal amount for each redeemed bond,
with redemption date 20 December 2023.

For further information, please contact:
Pål Feen Larsen, CEO of Borgestad ASA
Tel.: +47 48 84 53 33

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This information is subject to the disclosure requirements pursuant to 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. 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.