Arctic Paper S.A.

Business and Financial Review • May 21, 2024

Report Content Current report number 11/2024

Dated: May 21st 2024

Subject: Amendment of the Polish version of the Consolidated ManagementBoard's Report on activities for 2023 - correction of the consolidatedannual report of the Arctic Paper Capital Group for 2023.

General legal basis:

Art. 56 sec.1 p.2 of the Act on the Offering - current and periodicinformation

Content:

The Management Board of Arctic Paper S.A. (the _quot;Company_quot;) informs thatin the published consolidated annual report of the Arctic Paper CapitalGroup for 2023, due to technical reasons arising at the time ofconverting the Polish version of the document _quot;Arctic Paper CapitalGroup Management Board Report 2023_quot; (_quot;Management Report_quot;) into an xhtmlfile, an incomplete document of the above Report was created, which wasmissing the last pages, i.e. pages from 46 to 64.

The Management Board of the Company hereby informs that today it willre-publish the consolidated annual report of the Arctic Paper CapitalGroup for 2023 together with the auditor's report, in which theConsolidated Management Report in xhtml format will be supplemented withthe missing pages, i.e. pages 46 to 64.

The Management Board informs that no financial data included in theconsolidated financial statements for 2023 have been changed in relationto the original version of the report.

Specific legal basis:

§15 section 4 of the Minister of Finance Regulation of 29 March 2018 oncurrent and periodic information provided by the securities issuers andconditions on which information required under law applicable in a statenot being a member state may be recognised as equivalent