Registration of amendments to the Articles of Association of Arctic Paper S.A.

The Management board of Arctic Paper S.A. (“Company”, “Issuer”) herewith
announces that on 27th of June 2016, based on information corresponding to the
current excerpt from the Register of Entrepreneurs, downloaded under Article
4.4aa of the Polish Act on the National Court Register of 20thAugust 1997, which
presents the situation as at 27thof June 2016, the Company was informed about
the decision of the District Court in Poznań, VIII Commercial Division of the
National Court Register, on registering amendments to the Articles of
Association of the Company on 27th of June 2016, passed by the Ordinary
Shareholders Meeting of Arctic Paper S.A. on 2nd of June 2016 by means of the
resolution no. 21/2016 presented in the current report no.12/2016 of 2nd of June
2016.

The Company’s Management Board hereby encloses the hitherto wording of the
Company’s Articles of Association and the registered amendments.
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 Regulation of the Minister of
Finance of February 19, 2009  on current and periodic information submitted by
issuers of securities and conditions of recognizing information required by law
of a non-EU state as equivalent § 38 section 1 item 2 and was submitted for
publication on 27th June 2016 at 11:30 am CET, in reference to Arctic Paper’s
current report no. 14/2016 filed with the Warsaw Stock Exchange.