Appointment of Management Board of Arctic Paper S.A. for the next term of office

| Source: Arctic Paper AB

The Management Board of Arctic Paper S.A. (hereinafter “Company”) herewith
advises that on May 29, 2014 the Company Supervisory Board appointed the
following members of the Management Board for the next term of office effective
from May 29, 2014:

- Wolfgang Lübbert, President

- Jacek Łoś, Member

- Per Skoglund, Member

- Małgorzata Majewska – Śliwa, Member

- Michał Sawka, Member.

Wolfgang Lübbert has got university education. In 1989 he graduated in national
economics from the University of Hamburg. Wolfgang Lübbert joined Arctic Paper
1989. He worked several years as Managing Director of Arctic Paper Deutschland
GmbH. Chief Executive Officer of the Company since November 2013.

Jacek Łoś – graduate of University in Gdansk (Department of Economics and
Transportation, specializing in maritime transport) and post-graduate courses in
banking and finance at the Gdansk Academy of Banking and the Gdansk Institute
for Market Economics. Jacek Łoś specializes in ‘supply chain’ solutions,
logistics and commerce and has more than 20 years of experience in his field. He
was employed at the Kostrzyn mill in 1996 and took active part in the plant
restructuring, developing the logistics and supply systems from scratch. He
currently is deputy chairman of the board of Arctic Paper Kostrzyn S.A. His
previous professional experience includes various managerial posts at
transportation and commercial companies, including Polish Ocean Lines in Gdynia
and Komfort S.A. Arctic Paper Group Chief Procurement Officer since April 2011.

Per Skoglund has university education. In 1984 he graduated as engineer from the
Chalmers Technical University in Göteborg, Department of Chemical Engineering,
where he worked as assistant lecturer until 1987. He has been working in the
papermaking industry since 1994, holding various executive positions at Stora
Mölndal AB, Stora Enso Mölndal AB and Klippan AB. Since 1995 with the Arctic
Paper Group, also as Hafreström and the Grycksbo mill Managing Director. Arctic
Paper Group Chief Operating Officer operating director since April 2011.

Małgorzata Majewska-Śliwa has over 20 years’ experience in corporate financial
management. In her career she has worked for such companies as Coca-Cola West
Poland sp. z o.o. as Director of Administration and Control and Herlitz sp. z
o.o. as Director of Finance and Control. In 1996–1999 she was employed at Arctic
Paper Kostrzyn, where in 1997 she was CFO and a member of the management board.
From 1999 to 2006 she worked at Exide Technologies S.A., serving from 2001 as
Managing Director, Finance Director and CEO. In 2007 she became a partner at
Centrum Finansowo-Księgowe Progressio. Arctic Paper Group Chief Financial
Officer since November 2013.

Michał Sawka graduated in 1989 from the Moscow State Institute of International
Relations (MGIMO). In 1990-1994 he worked in ZWCh Stilon as deputy manager of
the export office. In 1994, he began working in ZPJ Silwa the position of the
Proxy for sales and then a Member of the Management Board, Director of Sales.
Michał Sawka has been working with Arctic Paper since 1996, in the beginning he
worked in the export office of Arctic Paper Kostrzyn S.A., then as Director of
Sales and Marketing. In 2002 he was appointed Overseas Manager at the Head
Office of the Group and since 2003 as the President of Management Board of
Arctic Paper Poland sp. z o.o.. Since February 2014 he has been the Sales
Director of the company.

None of the newly appointed members of the Board are involved in any activities
competitive towards Arctic Paper S.A., are partners in any competitive company
or undertaking, are members of governing bodies of any capital company or any
other legal entity in competition with Arctic Paper S.A. They are not entered in
the register of bad debtors maintained pursuant to the act on the National Court
For additional information, please contact:

Wolfgang Lübbert, President of the Management Board of Arctic Paper, tel.
+49 405 148 5310

This information is disclosed pursuant to the Minister of Finance directive of
February 19, 2009 on current and periodic information provided by issuers of
securities, and on conditions of equivalence of information required to be
provided under non-Member State law, §5, clause 1, item 22, and was submitted
for publication on 29 May 2014 at 3:30 pm CET, in reference to Arctic Paper’s
current report no. 8/2014 filed with the Warsaw Stock Exchange