Arctic Paper S.A.

Report Publication Announcement • Feb 9, 2017

Current report number 03/2017

Dated: February 9th 2017

Subject: Publication of year-end 2016 report by subsidiary company

General legal basis:

Art. 17 sec. 1 of MAR - inside information

Content:

Management board of Arctic Paper S.A.("Company", "Issuer") herewithannounces that on 9th February 2017 the Management of the Company'ssubsidiary Rottneros AB("Rottneros"), which is listed on NASDAQStockholm, has published the year-end 2016 report with the followingparameters:

Year 2016MLN SEKRevenues 1730EBITDA*) 221Net result128

MLN PLNRevenues 798EBITDA*) 102Net result 59

*) Operating income before depreciation, amortization and impairmentcharges.

Management board of Arctic Paper S.A. indicates that above Company'ssubsidiary results will have a significant impact on Arctic PaperGroup's consolidated 2016 annual 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.