Norske Skog ASA

Major Shareholding Notification • Aug 24, 2022

Norske Skog ASA (NSKOG): Mandatory notification of trade and disclosure of change in significant shareholding

Norske Skog ASA (NSKOG): Mandatory notification of trade and disclosure of change in significant shareholding

Reference is made to the stock exchange notices published on 24 August 2022 regarding the completion of a block sale of 11,000,000 existing shares in Norske Skog ASA (the “Company”) at a price per share of NOK 69.00 by NS Norway Holding AS, which is ultimately controlled by Oceanwood Capital Management LLP, (the “Seller”).

By the sale, the Seller reduced its shareholding from 26,896,681 shares (equal to approx. 28.5%) to 15,896,681 shares (equal to approx. 16.9%) and did thereby fall below the disclosable threshold of 20.0%. John Chiang, Senior Partner in the Seller, is the chairman of the board of directors of the Company.

Please see attached form for further details relating to the Seller's share sale.

For further information:

Norske Skog media:

Vice President Corporate Communication and Public Affairs

Carsten Dybevig

carsten.dybevig@norskeskog.com

Mob: +47 917 63 117

Twitter: @Norske_Skog

Norske Skog Investor Relations:

Investor Relations Manager

Even Lund

even.lund@norskeskog.com

Mob: +47 906 12 919