Current report no 04/2024

Date: 22nd April 2024

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 22nd 2024 it received information that the SupervisoryBoard of the Company adopted a resolution approving the submission tothe Ordinary Shareholders Meeting of the recommendation of theManagement's Board regarding the payment of dividend to the shareholdersfrom part of the Company's net profit of the financial year 2023 in theamount of PLN 69,287,783.00 (in words: sixty nine million two hundredeighty seven thousand and seven hundred eighty three zlotys 00/100).

The dividend per share will amount to PLN 1.00 gross (say: one zloty).

The remaining part of the Company's net profit of 2023, in the amount ofPLN 181,928,491.87 (in words: one hundred eighty one million ninehundred twenty eight thousand and four hundred ninety one zloty 87/100)will be allocated to the Company's supplementary capital.

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 of2023 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.