Shareholders holding no less than 5% of number of votes at

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 Ordinary Shareholders Meeting (“ESM”) from 2 June 2016.

No  Shareholder  Number of   Number of   Share in number  Share in total
                 votes       votes from  of votes at OSM  number of votes at
                 registered  shares                       OSM
                 at          registered
                 OSM         at
                             OSM
1   NEMUS        39 736 000  39 736 000  96,30%           57,35%
    HOLDING AB
For additional information, please contact:

Per Skoglund, acting President of the Management Board of Arctic Paper, tel.
+46 733 21 70 09

This information is disclosed pursuant to the Article 70 section 3 of Public
Offering Act and was submitted for publication on 2nd June 2016 at 4:00 pm CET,
in reference to Arctic Paper’s current report no. 13/2016 filed with the Warsaw
Stock Exchange.

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