Notification from significant shareholder, being member of the Supervisory Board, about transactions on shares in Arctic Paper SA

The Management Board of Arctic Paper S.A. (“Company”) hereby notifies that on
February 18, 2013, the Company has received the notification from Mr. Thomas
Onstad, member of the Company’s Supervisory Board, being indirectly the
shareholder of the Company (through the Swedish law companies – Nemus Holding AB
with its registered office in Göteborg, Sweden, and Trebruk AB with its
registered office in Göteborg, Sweden), notification about transactions on
shares in the Company.

The notification constitutes the appendix to this current report.

Arctic Paper S.A.

For additional information, please contact:
Olle Grundberg, chairman of the supervisory board of Arctic Paper, tel. +46 70
654 44 20

This information is disclosed pursuant to the Art. 70 and art. 70a of the
Offering Act and art. 160 section 4 of the Act on Trading, and was submitted for
publication on 18 February 2013 at 2:00 pm CET, in reference to Arctic Paper’s
current report no. 13/2013 filed with the Warsaw Stock Exchange.

Appendix

NOTIFICATION

regarding the change of the number of the shares held indirectly in Arctic Paper
S.A.

Dear Sirs,

Nemus Holding AB with its registered office in Göteborg, Sweden, (hereinafter
referred to as “Nemus Holding”) acting in its own name as well as on behalf of
Mr. Thomas Onstad (“Thomas Onstad”), a supervisory board member of Arctic Paper
S.A. with its registered office in Poznań (“Arctic Paper”) hereby notifies of
the change of the shares held by Mr. Thomas Onstad indirectly through the
Swedish companies controlled by Mr. Thomas Onstad - Trebruk AB, with its
registered office in Göteborg, Sweden, (hereinafter referred to as “Trebruk”)
and Trebruk’s direct parent entity Nemus Holding:

A)    On February 11, 2013 Trebruk exchanged shares in Arctic Paper in the
aggregate number of 2,133,100 shares in Arctic Paper (registered under the ISIN
No PLARTPR00012) for the same number of newly issued series F shares in Arctic
Paper; The transaction had no effect with respect to the number of the shares in
Arctic Paper held by Trebruk, as a result of the settlement of the public tender
offer for shares in Rottneros AB with its registered office in Stockholm, Sweden
(“Rottneros”) announced by Arctic Paper in accordance with Swedish law and
Prospectus Directive 2003/71/EC as amended and conducted between December 13,
2012 and February 4, 2013. However due to increase of Arctic Paper’s share
capital, percentage of votes at the General Meeting of Arctic Paper held by
Trebruk decreased.;

B)    On February 12, 2013 Trebruk exchanged shares in Rottneros for 589,441
shares in Arctic Paper through acceptance of the offer in the public tender
offer described in point A) above, which constitutes 0.8597% of Arctic Paper’s
shares.

We would also like to inform you that:

1)     The newly issued series F shares have not been admitted and introduced
into trading on the stock exchange market run by the Warsaw Stock Exchange S.A.
(“WSE”) or NASDAQ OMX Stockholm (“OMX”);

2)     Before settlement of the transactions referred to in items A) and B)
above, Mr. Thomas Onstad held (indirectly, through Trebruk and Nemus Holding)
46,717,910 shares in Arctic Paper, constituting 70.3282% of the share capital of
Arctic Paper and representing 46,717,910 votes constituting 70.3282% of the
total number of votes at the General Meeting of Arctic Paper;

3)     Before settlement of the transactions referred to in item A) and B)
above, Trebruk held directly 40,860,624 shares in Arctic Paper, constituting
61.5107% of the share capital of Arctic Paper and representing 40,860,624 votes
constituting 61.5107% of the total number of votes at the General Meeting of
Arctic Paper;

4)     After settlement of the transactions referred to in items A) and B)
above, Mr. Thomas Onstad holds (indirectly, through Trebruk and Nemus Holding)
47,307,351 shares in Arctic Paper, constituting 68.9998% of the share capital of
Arctic Paper and representing 47,307,351 votes constituting 68.9998% of the
total number of votes at the General Meeting of Arctic Paper;

5)     After settlement of the transactions referred to in item A) and B) above,
Trebruk holds directly 41,450,065 shares in Arctic Paper, constituting 60.4567%
of the share capital of Arctic Paper and representing 41,450,065 votes
constituting 60.4567% of the total number of votes at the General Meeting of
Arctic Paper;

6)     After settlement of the transactions referred to in item A) and B) above,
number of shares in Arctic Paper held by Nemus Holding remained unchanged,
however due to increase of Arctic Paper’s share capital, percentage of votes at
the General Meeting of Arctic Paper held by Nemus Holding decreased. Therefore
Nemus Holding holds directly 5,857,286 shares in Arctic Paper, constituting
8.5431% of the share capital of Arctic Paper and representing 5,857,286 votes
constituting 8.5431% of the total number of votes at the General Meeting of
Arctic Paper;

7)     Except for the circumstances mentioned in items 5) and 6) above, none of
Mr. Thomas Onstad’s controlled entities holds any share in Arctic Paper, and,
except for the circumstances mentioned above, as a result of the transactions
referred to in items A) and B) above, they have neither increased nor reduced
their share in the share capital of Arctic Paper or the number of votes at the
General Meeting of Arctic Paper; and

8)     Neither Mr. Thomas Onstad, Nemus Holding nor Trebruk and/or Arctic Paper
concluded agreements with third parties, whose subject would be the transfer of
the right to exercise voting rights attached to other shares of Arctic Paper.

____________________________________

Sverker Andreasson