Current report no. 05/2022

Date: 20th April 2022

Subject: Arctic Paper S.A. Supervisory Board's opinion on the payment ofdividend

General legal basis:

Art. 17 sec. 1 of MAR - inside information

The Management Board of Arctic Paper S.A. (_quot;Company_quot;) hereby informsthat on April 20th 2022 it was informed that the Supervisory Board ofthe Company adopted a resolution approving the submission to theOrdinary Shareholders Meeting of the recommendation of the Management'sBoard regarding the payment of dividend to the shareholders from theCompany's net profit of the financial year 2021 and from net profitsfrom previous years accumulated on the Company's reserve capital, in thetotal amount of PLN 27,715,113.20 - 0.40 PLN gross per share.

The Management Board's recommendation and the Supervisory Board'sopinion will be presented as a subject of the resolution of the OrdinaryShareholders Meeting.

The final decision on the distribution of the Company's net profit of2021 and the payment of dividend will be taken by the OrdinaryShareholders Meeting.

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.