Arctic Paper S.A.

Earnings Release • Feb 4, 2021

Current report number 3/2021

Dated: 4th February 2021

Subject: Publication of interim 4Q 2020 report by subsidiary company

General legal basis:

Art. 17 sec. 1 of MAR - inside information

Management Board of Arctic Paper S.A.("Company", "Issuer") herewithannounces that on 4th February 2021 the Management of the Company'ssubsidiary Rottneros AB ("Rottneros"), which is listed on NASDAQStockholm, has published the interim 4Q 2020 report with the followingparameters:YTD 4Q 2020

MLN SEK

Revenues 2,093

EBITDA 77

Net result -50

MLN PLN

Revenues 887

EBITDA 33

Net result -21

EBITDA - Operating income before depreciation, amortization andimpairment charges.

Management Board of Arctic Paper S.A. indicates that above Company'ssubsidiary results will have a significant impact on Arctic PaperGroup's consolidated annual 2020 results.

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.