The Management Board of Arctic Paper S.A. ("Company", "Issuer") in reference to the current report no.20/2016 dated September 9[th], 2016 regarding the conclusion between Arctic Paper S.A. and BNP Paribas Bank Polska S.A., Santander Bank Polska S.A. and the European Bank for Reconstruction and Development (the "Lender") of significant agreements related to the refinancing process of the Company and its subsidiaries ("Credit Agreement") and to the current reports no. 19/2019 of August 30, 2019 and no. 27/2019 of October 22[nd], 2019 about the technical extension of the validity period of the revolving loan ("Revolving Facility"), informs that today Lenders have extended the availability of the Revolving Facility to the Company until January 31[st], 2021,  on the conditions adopted so far.

The Revolving Facility was granted to the Company for a total value of EUR 19,800,000 and PLN 20,000,000 and was made available for the purpose of refinancing of intra-group liabilities of the Company or financing of intra-group loans.

The extension of the availability of the Revolving Facility for three months results from the possibilities considered by the Company and the possible conditions for the refinancing of the Group's current debt. The Company plans to simplify the current debt structure and to further optimize the conditions and reduce the costs of debt service. A possible decision on the implementation of refinancing and the selection of its final structure will depend on the analyzes conducted by the Issuer and the current situation on the financial market.

Further information provided by:

Michał Jarczyński, President of the Management Board of Arctic Paper, tel. (+48) 73 033 98 17

This information is disclosed pursuant to the Article 17 Section 1 of the Market Abuse Regulation - inside information and was submitted for publication on 27 October 2020 at 5:30 pm CET, in reference to Arctic Paper's current report no. 16/2020 filed with the Warsaw Stock Exchange

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