Norske Skog: Clarification on the consent solicitation process

*Record quarterly net sales of $5.5 billion increased 14.6% year-over-year *Net income of $378 million increased $128 million year-over-year, or 51.1%. Adjusted Net Income of $396 million increased $128 million year-over-year, growing 47.6% *Record Consolidated Adjusted EBITDA of $1.006 billion increased 24.0% year-over-year *Earned $1.47 per diluted share (“EPS”) and Adjusted EPS of $1.54, compared year-over-year to $0.93 and $1.00, respectively, increasing 58.1% and 54.0%, respectively *Net leverage ratio within targeted range

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Iggesund Sawmill is being modernised to allow for an increase in production. Holmen is currently investing SEK 70 million in a new drying plant which will increase its drying capacity from 400 000 to 500 000 m3. The new drying plant is what is known as a tunnel dryer. It is much more energy efficient than the old kiln dryers which it will partly replace. The greater drying capacity will primarily be used for dried wood products for the joinery industry. In addition to investing in new dryers, the group had previously agreed to invest in land for timber storage and warehouse space.