Arctic Paper S.A.

Board/Management Information • Apr 20, 2017

Current report no. 6/2017

Dated: April 20th 2017

Subject: Changes in Management Board of Arctic Paper SA

General legal basis:

Offering Act, article 56, clause 1, item 2 - current and periodicinformation

Contents:

The Management Board of Arctic Paper SA ("Issuer") informs, that inreference to the expiry of term of office of current Management BoardMembers as of 29th of May 2017, the Supervisory Board, during themeeting held on 19th of April 2017, has passed a resolution regardingappointment of the Management Board for the new term of office effectiveas of 30th of May 2017. The Management Board will have the followingcomposition:

- Per Skoglund - President of Management Board

- Pani Małgorzata Majewska-Śliwa - Member of Management Board

Per Skoglund has university education. In 1984 he graduated as engineerfrom the Chalmers Technical University in Göteborg, Department ofChemical Engineering, where he worked as assistant lecturer until 1987.He has been working in the papermaking industry since 1994, holdingvarious executive positions at Stora Mölndal AB, Stora Enso Mölndal ABand Klippan AB. Since 1995 with the Arctic Paper Group, also asHafreström managing director and the Grycksbo mill which was acquired in2010. He served as Arctic Paper Group operating director since April2011 and held position of Management Board Member. Since April 2016 Mr.Skoglund has been appointed as acting President of Management Board ofArctic Paper SA.

Per Skoglund is not involved in any activities competitive towardsArctic Paper S.A., is not a partner in any competitive company orundertaking, a member of governing bodies of any capital company or anyother legal entity in competition with Arctic Paper S.A. MałgorzataMajewska-Śliwa is not entered in the register of bad debtors maintainedpursuant to the act on the National Court Register.

Małgorzata Majewska-Śliwa has over 20 years' experience in corporatefinancial management. In her career she has worked for such companies asCoca-Cola West Poland sp. z o.o. as Director of Administration andControl and Herlitz sp. z o.o. as Director of Finance and Control. In1996-1997 she was employed at Arctic Paper Kostrzyn, where in 1997 shewas CFO and a member of the management board. From 1999 to 2006 sheworked at Exide Technologies S.A., serving from 2001 as ManagingDirector, Finance Director and CEO. In 2007 she became a partner atCentrum Finansowo-Księgowe Progressio. Since November 2013 Mrs. Majewskahas been appointed as Management Board Member and Chief FinancialOfficer.

Małgorzata Majewska-Śliwa is not involved in any activities competitivetowards Arctic Paper S.A., is not a partner in any competitive companyor undertaking, a member of governing bodies of any capital company orany other legal entity in competition with Arctic Paper S.A. MałgorzataMajewska-Śliwa is not entered in the register of bad debtors maintainedpursuant to the act on the National Court Register.

Specific legal basis:

Minister of Finance directive of February 19, 2009 on current andperiodic information provided by issuers of securities, and onconditions of equivalence of information required to be provided undernon-Member State law, §5, clause 1, item 22.