Shareholders holding no less than 5% of number of votes at the Extraordinary Shareholders Meeting of Arctic Paper S.A

The Management Board of Arctic Paper S.A. („the Company”) makes public the
information regarding the list of shareholders holding no less than 5% of number
of votes at the Extraordinary Shareholders Meeting (“ESM”) from 21st December
2015.

No  Shareholder  Number of   Number of   Share in number  Share in total
                 votes       votes from  of votes at ESM  number of votes at
                 registered  shares                       ESM
                 at          registered
                 ESM         at
                             ESM
1   NEMUS        39 736 000  39 736 000  97,01%           57,35%
    HOLDING AB
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 Article 70 section 3 of Public
Offering Act, and was submitted for publication on 21 December 2015 at 5:00 pm
CET, in reference to Arctic Paper’s current report no. 18/2015 filed with the
Warsaw Stock Exchange