Arctic Paper: Appointment of Auditors

Regulatory News:

The Management Board of Arctic Paper S.A. ("Company”) herewith informs that on the 27thof April 2016 the Company’s Supervisory Board adopted a resolution appointing Ernst & Young Audyt Polska sp. z o.o. sp.k., as Company’s auditors authorized to audit the Company’s financial statements. The Supervisory Board is the eligible body to adopt such resolution pursuant to article 15, clause 15.2, item e of the Company’s Articles of Association.

The appointment has been made according to generally applicable provisions and professional standards.

Ernst & Young Audyt Polska sp. z o.o. sp.k., seated in Warsaw (00-124), Rondo ONZ 1, has been entered on the list of chartered auditors of financial statements maintained by the National Chamber of Chartered Auditors with the number 130.

Ernst & Young Audyt Polska sp. z o.o. sp.k. shall:

1) review mid-year standalone financial statements of the Company and mid-year consolidated statements of the Arctic Paper S.A. Capital Group, as of June 30, 2016;

2) audit of annual standalone financial statements of the Company and annual consolidated statements of the Arctic Paper S.A. Capital Group for the trading year from 01 January 2016 through 31 December 2016 prepared according to MSR/MSSF principles.

The contract with the auditor will be concluded for the period necessary for the performance of the services.

The Company has already used services of the auditors to obtain audits of financial statements of Arctic Paper S.A. for years 2008-2015.

This information is disclosed pursuant to the § 5 clause 1, item 19 of the Minister of Finance Regulation of 19 February 2009 on current and periodic information provided by issuers of securities, and on conditions of equivalence of information required to be provided under non-Member State law and was submitted for publication on 28 April 2016 at 12:00 am CET, in reference to Arctic Paper’s current report no. 7/2016 filed with the Warsaw Stock Exchange

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