Financial Performance - Operating revenues increased to NOK 2,045 million in Q2 2025, up from NOK 1,949 million in the same period last year [1] - EBITDA reached NOK 522 million, compared to NOK 510 million in the previous year [1] - Profit before tax was NOK 326 million, slightly up from NOK 322 million [2] - Earnings per share increased to NOK 2.56 from NOK 2.45 [2] Segment Performance - BioSolutions saw improved results driven by continued growth in sales to agriculture [2][3] - BioMaterials experienced an increase in results due to higher sales prices, improved product mix, and increased sales volume, although this was partly offset by higher wood costs [2] - Fine Chemicals reported a weaker result primarily due to lower sales prices for bioethanol [2] Market Conditions - Positive net currency effects were noted across all areas [2] - The company’s President and CEO highlighted strong sales to agriculture and price increases for specialty cellulose as key drivers for improved results in BioSolutions and BioMaterials [3]

Group 1: Leadership Transition - Tom Erik Foss-Jacobsen has been appointed as the new CEO of Borregaard ASA, effective from August 1, 2025, succeeding Per A. Sørlie who will retire after 26 years in the role [1][5] - Helge Aasen, chair of Borregaard's Board of Directors, expressed confidence in Foss-Jacobsen's leadership capabilities, highlighting his in-depth understanding of the business and strong results in previous roles [2][5] - Per A. Sørlie has been with Borregaard for 35 years, contributing significantly to the company's transformation into a bio-based specialty chemicals firm and driving profit growth since its listing on the Oslo Stock Exchange in 2012 [6] Group 2: Background of Tom Erik Foss-Jacobsen - Foss-Jacobsen is currently the Executive Vice President and head of BioSolutions, a position he has held since 2019, and has over 25 years of experience at Borregaard, including 21 years in leadership roles [3] - He holds a master's degree in international marketing and strategy and a bachelor's degree in civil engineering, indicating a strong educational background relevant to his new role [3] Group 3: Future Outlook - Foss-Jacobsen expressed a commitment to driving sustainable growth and creating value for Borregaard and its stakeholders, indicating a focus on the company's strategic objectives [5] - The Board will grant Foss-Jacobsen stock options upon his accession, aligning his interests with the long-term performance of the company [7]