ARCTIC PAPER S.A.: Przedłużenie Kredytu Odnawialnego – aktualizacja informacji

Current report no. 10/2021

Date of preparation: 23rd March 2021

Subject: Revolving Credit Facility Extension – information update

General legal basis:

Art. 17 sec. 1 MAR – inside information

Contents:

The Management Board of Arctic Paper S.A. (“Company”, “Issuer”) in
reference to the current report no.20/2016 dated September 9th, 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, no. 27/2019 of October 22nd, 2019, no.16/2020 of October 27th
2020, no. 01/2021 of January 12th 2021 and no. 06/2021 of February 12th
2021 about the technical extension of the validity period of the
revolving loan (“Revolving Facility”), hereby informs that today it has
received an information that Lenders have extended the availability of
the Revolving Facility to the Company until April 30th, 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 availability of the Revolving Facility has been extended by an
additional month.

The Company is negotiating a new facility agreement with selected banks
in order to obtain funds for refinancing of the existing indebtedness of
the Company and its subsidiaries, including refinancing of Revolving
Facility which was announced in the current report no. 04/2021 of
February 5th 2021. Information on the completion of negotiations and
their result will be provided by the Company in a separate current
report.

Specific legal basis:

Art. 17 sec. 1 of Regulation (EU) No. 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse (market
abuse regulation) and repealing Directive 2003/6/EC of the European
Parliament and of the Council and Commission Directives 2003/124/EC,
2003/125/EC and 2004/72/EC.

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