ボレガード エーエス Company Profile

This is information about events related to our battery products. We will be presenting at the Asian Battery Conference this year and will also have an exhibition booth. If you are interested, please feel free to contact us. Presentation Topic: [Assessment of Carbon/Lignosulfonate Interactions on Lead―Battery Performance in the Absence of Cold-Crank Constraints] On-site support (English/Chinese): Shirley Xue <shirley.xue@borregaard.com> Japanese inquiries: Yuji Nakagawa <yuji.nakagawa@borregaard.com>

The results of the fine chemicals segment and the biomaterials segment improved, but the bio-solutions segment decreased. The improvement in the fine chemicals segment's performance was due to an increase in sales prices, an increase in production volume, and an improvement in product mix. The improvement in EBITDA for the biomaterials segment was mainly due to an increase in sales prices and foreign exchange effects. The decrease in margins and volume of traded vanillin products was the main reason for the decrease in EBITDA for the bio-solutions segment. Rising costs related to wood and other raw materials, maintenance, and personnel expenses affected all business areas. Operating profit reached 320 million NOK (291 million NOK). Profit before tax was 292 million NOK (277 million NOK). Boregaard is investing 100 million NOK in a new green technology platform and will construct a commercial-scale demonstration plant with an annual production capacity of 1,000 tons at the Sarpsborg biorefinery. *(Figures in parentheses are for the same period last year)* *(NOK = Norwegian Krone)*

Boregard's sales for the third quarter of 2022 were NOK 1,752 million. EBITDA was NOK 434 million. The results were strong across all businesses. For more details, please refer to our website.