Current report no. 11/2023

Dated: 6th of June 2023

Subject: Shareholders holding no less than 5% of number of votes at theOrdinary Shareholders Meeting of Arctic Paper S.A.

General legal basis:

Article 70 section 3 of Public Offering Act

Contents:

The Management Board of Arctic Paper S.A. ("the Company") makes publicthe information regarding the list of shareholders holding no less than5% of number of votes at the Ordinary Shareholders Meeting ("OSM") from6th of June 2023.ShareholderNEMUS HOLDING ABNumber ofvotes registered at OSM 40 366 449Number of votes from sharesregistered at OSM 40 366 449Share in number of votes at OSM 99,34%Sharein total number of votes in the Company 58,26%

Legal basis for publishing of the report:

Article 70 section 3 of Public Offering Act