Arctic Paper S.A.

Capital/Financing Update • Jul 9, 2021

Current report no. 24/2021

Date: 8th July 2021

Subject: Complete early redemption of bonds by subsidiary company

General legal basis:

Art. 17 sec. 1 MAR - inside information

Content:

The Management Board of Arctic Paper S.A. ("Company", "Issuer"), inreference to the current report no. 16/2017 dated August 28th, 2017 onthe issue of bonds by the subsidiary company Rottneros AB with its seatin Sweden("Rottneros"), hereby informs that today it receivedinformation that the subsidiary Rottneros AB made a decision on earlyredemption of all bonds issued under the bond issue program, up to SEK600 million (PLN 267.5 million).

The early redemption of the bonds will be carried out on July 19th ,2021.

The bonds will be redeemed at an amount equal to 102.075 per cent of thenominal amount of each bond increased by accrued interest.

The purchased bonds will be redeemed. Due to the redemption, the bondswill be withdrawn from the Nasdaq stock exchange in Stockholm.

Specific legal basis:

Art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the EuropeanParliament and of the Council of 16 April 2014 on market abuse (marketabuse regulation) and repealing Directive 2003/6/EC of the EuropeanParliament and of the Council and Commission Directives 2003/124/EC,2003/125/EC and 2004/72/EC.