Current report no. 3/2022

Dated: February 17th 2022

Subject: Preliminary financial results of Arctic Paper S.A. and ArcticPaper Group for the Q4 of 2021 and 2021 and recommendation on dividendpayment

General legal basis:

Art. 17 sec. 1 of MAR - Inside information

Content:

Management Board of Arctic Paper S.A.("Company", "Issuer") in referencewith obtaining today an information about the value of preliminaryselected financial data, herewith announces selected preliminaryfinancial results of the Arctic Paper S.A. Group (the _quot;Group_quot;) and theIssuer for the Q4 of 2021 and annual 2021:

Financial Results of Q4 2021:

Arctic Paper S.A. Group:

- Consolidated estimated sales revenues 953.5 mln PLN,

- Consolidated estimated net profit 54.7 mln PLN,

Arctic Paper S.A.

- Standalone estimated sales revenues 9.2 mln PLN,

- Standalone estimated net loss -4.4 mln PLN,

Financial Results of 2021:

Arctic Paper S.A. Group:

- Consolidated estimated sales revenues 3,412.6 mln PLN,

- Consolidated estimated net profit 175.9 mln PLN,

Arctic Paper S.A.

- Standalone estimated sales revenues 63.8 mln PLN,

- Standalone estimated net profit 21.8 mln PLN.

Detailed selected preliminary consolidated results of the Arctic PaperS.A. Group are presented in the attachment to this report.

The above financial results are estimates obtained during thepreparation of the financial statements for 2021. The final standaloneand consolidated results will be published in the annual report and may,to a limited extent, differ from the amounts presented above.

Publication of the Company's standalone annual report of 2021 andconsolidated annual report of the Arctic Paper S.A. Group of 2021,together with the auditor's opinions, will take place on March 22nd,2022.

Taking into account the preliminary financial results of the Company andthe Arctic Paper S.A. Group of 2021, the Management Board of the Companydecided to recommend to the Annual General Meeting of the Company thepayment of dividend from the Company's net profit of 2021 in the amountof PLN 0.40 gross per share.

The final recommendation regarding the distribution of the net profit of2021 will be presented by the Management Board to the Annual GeneralMeeting after the publication of the Company's annual report of 2021,which will take place on March 22nd, 2022. The Management Board'srecommendation will be a subject of the opinion of the Company'sSupervisory Board.

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.