Arctic Paper S.A.

Report Publication Announcement • Jun 2, 2016

Current report number 12/2016

Dated: 02.06.2016

Subject: Resolutions concluded by the Ordinary Shareholders Meeting ofArctic Paper S.A. on 2 June 2016.

General legal basis:

Article 56 section 1 item 2 of Public Offering Act - current andperiodic information

Content:

The Management Board of Arctic Paper S.A. ("the Company") provides forpublic information, as attached, the contents of resolutions concludedby the Ordinary Shareholders Meeting on 2 June 2016 ("OSM") (includingchanges of the Company's Articles of Association). There were noobjections to any of the resolutions of the Ordinary ShareholdersMeeting. The Ordinary Shareholders Meeting did not refrain fromconsidering any of the items of scheduled agenda.

Legal basis for publishing of the report:

Regulation of the Minister of Finance on current and periodicinformation submitted by issuers of securities and conditions ofrecognizing information required by law of a non-EU state as equivalent§ 38 section 1 items 2, 7, 8 and 9.

Attachment:

1. Resolutions concluded by the Ordinary Shareholders Meeting of ArcticPaper S.A. on 2 June 2016 - attachment no 1 to current report 12/2016dated 2 June 2016.

2. Justification for the draft resolution no. 20/2016 adopted by theOrdinary Shareholders' Meeting of Arctic Paper S.A. regarding consent tothe establishment of a registered pledge over a collection of movablesand property rights of the Company - attachment no. 2 to current report12/2016 dated June 2, 2016.

3. Hitherto wording of joint stock company Arctic Paper Spółka AkcyjnaArticles of Association together with approved amendments - attachmentno. 3 to current report 12/2016 dated 2 June 2016.