Borgestad ASA – Decision from the Supreme Administrative Court regarding sale-leaseback transaction for production facilities in Sweden

Lysaker, 1 September 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, the decision by the Administrative Court of Appeal in Gothenburg to set aside the ruling of the Administrative Court in Malmö, and the appeal over the decision of the Administrative Court of Appeal.

The Supreme Administrative Court (Högsta förvaltningsdomstolen) has now processed the appeal and decided not to grant leave to appeal (Sw: prövningstillstånd). The Supreme Administrative Court concluded that the requirements for granting leave to appeal under the Swedish Administrative Court Procedure Act (förvaltningsprocesslagen) (1971:291) were not met and therefore did not examine the merits of the case. Accordingly, the judgment of the Administrative Court of Appeal remains in force, and Bjuv municipality's approval of the Transaction has not been revoked. The Supreme Administrative Court's decision is final and cannot be appealed.

As stated in the stock exchange announcement published by the Company on 10 December 2025, Bjuv municipality's approval of the Transaction would become binding upon the final resolution of the complaint in the claimants' disfavour, and completion of the Transaction was conditional upon such binding approval. As this condition has now been satisfied, the Transaction may proceed to completion. 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 1 September 2026 at 11.30 CEST 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.