Norske Skog ASA

Share Issue/Capital Change • Jun 12, 2023

Shareholder distribution approved by lenders

Shareholder distribution approved by lenders

Norske Skog has today, 12 June 2023, received consent from a group of lenders to make a shareholder distribution in an amount up to NOK 472 million. Such shareholder distribution can be made by way of dividend payments, share repurchases or a combination of the two, during 2023.

The board of directors of Norske Skog received authorisations from the annual general meeting on 20 April 2023 to pay dividends of up to NOK 5.00 per share and to repurchase shares representing up to 10% of the share capital.

The board of directors will meet in due course to determine the size and method of any shareholder distributions and related information will be published subsequently.

This information is subject to the disclosure requirements in the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

About Norske Skog

Norske Skog is a world leading producer of publication paper with strong market positions and customer relations in Europe and Australasia. The Norske Skog Group operates four mills in Europe, which produce publication paper, recycled packaging paper, energy and bio products. In addition, the Group operates one paper mill in Australia. Norske Skog aims to further diversify its operations and continue its transformation into a growing and high-margin business through a range of promising energy and bio product development projects. The Group has approximately 2 100 employees, is headquartered in Norway and listed on the Oslo Stock Exchange under the ticker NSKOG.

For further information:

Norske Skog media:

Vice President Communication and Public Affairs

Carsten Dybevig

Email: carsten.dybevig@norskeskog.com

Mob: +47 917 63 117

Norske Skog financial markets:

Investor Relations Manager

Even Lund

Email: even.lund@norskeskog.com

Mob: +47 906 12 919