Norske Skog sells surplus power asset in New Zealand

2016-12-15

Norske Skog has entered into an unconditional agreement to sell the Topp1 power station at the Tasman mill site in New Zealand to NGATI Tuwharetoa Electricity Ltd, a local partner at the Tasman industrial site.

Topp1 generates around 21.5 MW geothermal energy annually. The net sales proceeds are close to Norske Skog's carrying value, which will reduce net debt and terminate the transaction financing with GSO and Cyrus. The transaction will thus have limited accounting effects. The transaction will be completed on or about 16 December 2016. - We are very pleased with this sales transaction. Through the sale of the Topp1 plant, we are reducing our long-term energy exposure for the Tasman mill in New Zealand. The electric power generated by Topp1 has been surplus to our requirements following the closure of a newsprint machine at Tasman in 2013. Sale of non- core assets will still be a source for growth investments. In 2020, we are targeting 25% of our gross operating earnings to be generated from non-publication paper activities, says Sven Ombudstvedt, President and CEO of Norske Skog.

Financing update Norske Skog has also agreed to extend, from 30 November 2016 to 30 March 2017, the EUR 10 million short-term facility with funds managed by GSO Capital Partners and Cyrus Capital Partners. The facility is issued by Norske Skog AS and is guaranteed by Norske Skogindustrier ASA, Norske Skog Saugbrugs AS and Norske Skog Skogn AS.

Norske Skog Communications and Public Affairs

For further information:

Norske Skog media: Vice President Corporate Communication Carsten Dybevig Mob: +47 917 63 117 Twitter: @Norske_Skog Norske Skog financial markets: Vice President Investor Relations Tom Rogn Mob: +47 948 55 659

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Norske Skogindustrier ASA - Mandatory notification of trade

2016-11-21

Certain funds under the management of Cyrus Capital Partners, L.P. (the "Cyrus Funds") have on 21 November 2016 sold 68,558 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a gross price of NOK 3.0204 per share. After the transaction, Cyrus Funds own 20,591,829 shares, equivalent to 7.38% of the issued share capital and voting rights in Norske Skog. This notification is made pursuant to Section 4-2 of the Norwegian Securities Trading Act. Cyrus is represented on the board of directors of Norske Skog.

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Norske Skogindustrier ASA - Mandatory notification of trade

2016-11-16

Certain funds under the management of Cyrus Capital Partners, L.P. (the "Cyrus Funds") have on 15 November 2016 sold 355,323 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a gross price of NOK 3.0187 per share. After the transaction, Cyrus Funds own 20,660,387 shares, equivalent to 7.41% of the issued share capital and voting rights in Norske Skog. This notification is made pursuant to Section 4-2 of the Norwegian Securities Trading Act. Cyrus is represented on the board of directors of Norske Skog.

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Mandatory notification of trade

2016-11-15

Member of the Board Paul R. Kristiansen has today bought 12 000 shares in Norske Skog at a price of NOK 3.02. New holding is 46 691 shares.

Oslo, 14 November 2016 Norske Skog Communications and Public Affairs

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Mandatory notification of trade

2016-11-11

Member of the Board Paul R. Kristiansen has today bought 9 000 shares in Norske Skog at a price of NOK 2.99. New holding is 34 691 shares.

Oslo, 10 November 2016 Norske Skog Communications and Public Affairs

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Norske Skogindustrier ASA
PB 294 Skøyen
0213 Oslo
Norway
info@norskeskog.com

Phone: +47 22 51 20 20
Main fax: +47 22 51 20 21
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Norske Skogindustrier ASA
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Norske Skogindustrier ASA, PB 294 Skøyen, 0213 Oslo, Norway

Phone: +47 22 51 20 20 - Main fax: +47 22 51 20 21