Notification from the shareholders about changes in shareholding of Arctic Paper S.A.

The Management Board of Arctic Paper S.A. (“Company”) hereby notifies that on
June 5, 2014, the Company has received the notifications about changes in
shareholding from Nemus Holding AB and from Mr. Thomas Onstad, member of the
Company’s Supervisory Board, being indirectly the shareholder of the Company
(through the Swedish law companies – Nemus Holding AB with its registered office
in Göteborg, Sweden, and Trebruk AB with its registered office in Göteborg,
Sweden), notification on transactions on shares in the Company. The changes
occurred as an effect of the sales agreement dated June 2, 2014, in which Nemus
Holding AB sold 5,848,658 shares of the Company to Mr. Thomas Onstad.

In reference to the above Nemus Holding AB currently holds 0.02% in the total
number of votes of the Company and Mr. Thomas Onstad holds 8.44% in the total
number of votes on the Company’s General Meeting. Before the agreement Mr.
Thomas Onstad did not hold directly any shares of the Company.

The notification constitutes the appendix to this current report.
For additional information, please contact:

Wolfgang Lübbert, CEO, tel. +49 405 148 5310

This information is disclosed pursuant to the Art. 70 and art. 70a of the
Offering Act and was submitted for publication on 5 June 2014 at 3:30 pm CET, in
reference to Arctic Paper’s current report no. 11/2014 filed with the Warsaw
Stock Exchange.