Norske Skog ASA

Earnings Release • May 4, 2020

Operational update

Norske Skog ASA closely monitors the coronavirus (COVID-19) outbreak and continuously implements adequate measures to reduce the risk for employees and ensure continuity of operations. Norske Skog adheres to the individual recommendations and measures taken by the national authorities.

Sven Ombudstvedt, CEO of Norske Skog, comments: "Our top priority is to ensure the health and safety for our employees. Norske Skog has and will closely monitor the development of the coronavirus, and corresponding effects on our supply chains and markets. As earlier communicated, Norske Skog will adjust operational activity to market developments."

Due to negative market developments as a result of corona restrictions, Norske Skog has therefore implemented the following necessary actions:

• In Norway, Saugbrugs has recalled the 173 temporarily laid off employees, who will now be trained to serve as summer holiday substitutes. The Saugbrugs mill has temporary ceased production on two of its three paper machines (PM4 and PM5).
• In France, the Golbey mill has temporary ceased production on one paper machine (PM1), but plans to resume production in two weeks.
• In Austria, the Bruck mill temporary ceased production on one paper machine (PM4) on 1 May, and plans to start production again on 14 May 14. The other paper machine (PM3) will cease production on 5 May until 11 May.
• In New Zealand, the government has ended the national lock down restrictions, and the Tasman mill will resumed normal production today.
• All other business units have normal production for the time being.

In general, the corona situation will not affect our strategy and the on-going tasks to improve the core business, convert certain of the group's paper machines and diversify the business within bioenergy, fibre and biochemicals.

About Norske Skog

Norske Skog is a world leading producer of publication paper with a strong market position in Europe and Australasia. Publication paper includes newsprint and magazine paper. The Norske Skog group operates six mills and a pellets business in five countries, with an annual publication paper production capacity of 2.3 million tonnes and pellets capacity of 85,000 tonnes. Newsprint and magazine paper are sold through sales offices and agents to over 80 countries. The group has approximately 2,300 employees. In addition to the traditional publication paper and pellets business, new growth initiatives related to renewable energy, bio chemical products and fibre products have been launched.

Norske Skog Communications and Public Affairs

Norske Skog ASA

Sjølyst plass 2 P.O. Box 294 Skøyen, 0213 Oslo Norway

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