Lysaker, 15 January 2026: Reference is made to the stock exchange announcement
by Borgestad ASA (the "Company" and, together with its consolidated
subsidiaries, the "Group") published on 27 October 2023 regarding the
conditional agreement entered into with Bjuv municipality for the sale and
leaseback of two properties in Sweden, where the Group's production plant and
other production facilities for refractory products are located (the
"Transaction"), and the later stock exchange announcements published by the
Company regarding the approval of the Transaction by Bjuv municipality, the
ruling by the Administrative Court in Malmö to revoke Bjuv municipality's
approval of the Transaction and the decision by the Administrative Court of
Appeal in Gothenburg to set aside the ruling of the Administrative Court in
Malmö. 

The Company has been notified that an appeal over the decision of the
Administrative Court of Appeal has been received prior to the expiration of the
appeal period. No grounds have yet been provided for the appeal, and the
appellant has requested a two-week extension of the deadline to provide such
grounds. 

The appeal will be processed by the Supreme Administrative Court (Högsta
förvaltningsdomstolen), which will determine whether to grant the requested
extension and ultimately whether to grant leave for the appeal to be heard. 

The Company will provide further updates as appropriate.  

For further information, please contact:

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

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. 

This stock exchange announcement was published by Pål Feen Larsen, CEO of
Borgestad ASA, on 15 January 2026 at 15:05 CET on behalf of the Company.

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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.