Norske Skogindustrier ASA - Mandatory notification of trade and disclosure of shareholding

2017-05-15

Funds under the management of GSO Capital Partners LP (together, "GSO"), a limited partnership controlled by The Blackstone Group L.P. have on 12 May 2017 sold 376,919 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a net price of NOK 0.88 per share.

After the transaction, GSO owns 52,927,262 shares, equivalent to 18.97%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. GSO is represented on the board of directors of Norske Skog.

For further information, please contact:

Andrew Dowler Blackstone +44 207 451 4275

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Norske Skogindustrier ASA - Mandatory notification of trade and disclosure of shareholding

2017-05-12

Funds under the management of GSO Capital Partners LP (together, "GSO"), a limited partnership controlled by The Blackstone Group L.P. have on 11 May 2017 sold 3,613,282 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a net price of NOK 0.87 per share.

After the transaction, GSO owns 53,304,181 shares, equivalent to 19.11% 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. GSO is represented on the board of directors of Norske Skog.

For further information, please contact:

Andrew Dowler Blackstone +44 207 451 4275

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Norske Skogindustrier ASA - Mandatory notification of trade and disclosure of shareholding

2017-05-11

Funds under the management of GSO Capital Partners LP (together, "GSO"), a limited partnership controlled by The Blackstone Group L.P. have on 10 May 2017 sold 3,606,141 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a net price of NOK 1.00 per share.

After the transaction, GSO owns 56,917,463 shares, equivalent to 20.40% 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. GSO is represented on the board of directors of Norske Skog.

For further information, please contact:

Andrew Dowler Blackstone +44 207 451 4275

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Norske Skogindustrier ASA - Mandatory notification of trade and disclosure of shareholding

2017-05-10

Funds under the management of GSO Capital Partners LP (together, "GSO"), a limited partnership controlled by The Blackstone Group L.P. have on 9 May 2017 sold 1,468,998 shares of Norske Skogindustrier ASA (the "Company" or "Norske Skog") at a net price of NOK 1.13 per share.

After the transaction, GSO owns 60,523,604 shares, equivalent to 21.69% 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. GSO is represented on the board of directors of Norske Skog.

For further information, please contact:

Andrew Dowler Blackstone +44 207 451 4275

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Lars P. S. Sperre appointed as interim President and CEO of Norske Skogindustrier ASA

2017-05-07

The board of directors has unanimously appointed Lars P. S. Sperre as interim President and CEO of Norske Skogindustrier ASA with immediate effect. Sperre has been employed by Norske Skogindustrier ASA since 2006 and been member of the corporate management team since 2014. Prior to this appointment, Sperre acted as Senior Vice President Corporate Strategy & Legal. - An unanimous board supports the appointment. Lars is the natural candidate to the role as interim President and CEO. He knows the industry well and has been highly involved in the group's restructuring and financing processes during recent years, in addition to being instrumental in the development of the current strategy, says chairman of the board Henrik A. Christensen. - I am very motivated to accept this challenge. Norske Skog has many skilled employees with high competences and drive. I am certain that we together will solve the challenges and bring the potential of the group to fruition. Norske Skog's operations and cash flow are good, the debt level is, however, too high and too much cash flow is consumed by interest payments instead of being reinvested in the group, says Lars P. S. Sperre, interim President and CEO of Norske Skog. Lars P. S. Sperre received a law degree from the University of Bergen, Norway, in 2002. Sperre previously worked as a lawyer at Wikborg Rein law firm from 2004 to 2006. Sperre has through his various roles at Norske Skog during the last 10 years acquired extensive knowledge of cost reduction activities, financing, restructuring processes and business transactions. - The board is very pleased with Lars accepting this challenge. We will together with the management team seamlessly continue the work to find the best refinancing solution for the group, further develop Norske Skog's competitive and solid asset portfolio, in addition to realising the group's growth initiatives. Norske Skog has high debt, but positive cash flow and no bond maturities before December 2019, says chairman of the board Henrik A. Christensen. For further information: Henrik A. Christensen Chairman of the board E-mail: henrik@rosom.no Telephone: +47 90 96 76 83

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Mail

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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Visitors

Norske Skogindustrier ASA
Karenslyst allé 49
0278 Oslo

Norske Skogindustrier ASA, PB 294 Skøyen, 0213 Oslo, Norway

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