Conditional registration of shares with the National Depository for Security (KDPW)

The Management Board of Arctic Paper S.A. (the "Company”) announces that on 16
May 2014 it received Resolution no. 473/14 and Resolution no. 474/14 correcting
the former one in respect of the identification of series of registered shares
(Resolution 473/14 stipulates that the registration concerns series D instead of
series F) of the Board of the National Depository for Securities (Krajowy
Depozyt Papierów Wartościowych S.A.) (the “National Depository”) of 16 May 2014,
wherein it was notified that pursuant to § 40 sections 2, 3a and 4a of the
Bylaws of the National Depository for Securities, the Board of the National
Depository having examined a request filed by Arctic Paper S.A. resolved to
register with the National Depository for Securities 13,884,283 (thirteen
million eight hundred eighty four thousand two hundred eighty three) series F
ordinary bearer shares of the Company of the nominal value of PLN 1.00 (one
Polish zloty) each and give them code PLARTPR00012, provided that a decision is
made to introduce the shares to trading on the same regulated market, on which
other shares of the Company were introduced with the code PLARTPR00012.

13,884,283 (thirteen million eight hundred eighty four thousand two hundred
eighty three) series F ordinary bearer shares of the Company shall be registered
within three days as of the receipt by the National Depository of the documents
confirming the introduction of those shares to trading on the regulated market,
referred to above, no earlier, however, than on the day stipulated in the
decision of the company operating that regulated market as the day of
introduction of those shares to trading on that regulated market.

The resolution states that it enters into force on the day it is adopted.

The Company notified of the issue of series F shares in its current report no.
30/2012 of 4 December 2012.
For additional information, please contact:

Wolfgang Luebbert, CEO, tel. +49 40 51485310

This information is disclosed pursuant to the § 34 section 1 item 1 of the
Minister of Finance Regulation of 19 February 2009 on current and periodic
information provided by the securities issuers and conditions on which
information required under law applicable in a state not being a member state
may be recognised as equivalent, and was submitted for publication on 16 May
2014 at 8:30 pm CET, in reference to Arctic Paper’s current report no. 5/2014
filed with the Warsaw Stock Exchange.