Recommendation of the Company’s Management Board on 2012 dividend payment

The Management Board of Arctic Paper S.A (“Company”) hereby informs that it is
going recommend to the Shareholders Meeting of Arctic Paper S.A. the following
distribution of the net profit for the year 2012:

a)    assignment of the amount of PLN 1,082,331.31 to the supplementary capital
of the Company, pursuant to art. 396 § 1 of the Commercial Companies Code;

b)    assignment of the amount of PLN 1,385,755.66 PLN for the payment of
dividend in the amount of PLN 0.02 per share;

c)    assignment of the remaining amount of the net profit of PLN 11,061,054.39
to reserve capital, with a possibility of future utilization of this amount for
the payment of dividend or for other legally permitted purpose/

The change of recommendation in relation to the one announced in current report
17/2013 results from deterioration of paper market situation and recording of a
loss by the Company in the first quarter of 2013.

The final decision regarding the distribution of net profit for the year 2012
shall be made by the Ordinary Shareholders Meeting.
For additional information, please contact:

Michał Jarczyński, President of the Management Board of Arctic Paper, tel.
+48 61 62 62 000

This information is disclosed pursuant to the § 38 section 1 item 11 of the
Minister of Finance Regulation of 19 February 2009 on current and periodic
information provided by the securities issuers and conditions on which
information required under law applicable in a state not being a member state
may be recognised as equivalent, and was submitted for publication on 31 May
2013 at 08:00 am CET, in reference to Arctic Paper’s current report no. 23/2013
filed with the Warsaw Stock Exchange