Arctic Paper SA Capital Group Half-Year Report for the 6 Month Period Ended 30th June 2016 Together With Independent Auditors’ Review Reports

Regulatory News:

The Management Board of Arctic Paper S.A. (hereinafter "Company”) (STO:ARP) herewith published the Arctic Paper SA Capital Group half-year report for the 6 month period ended in the 30th June 2016 together with Independent Auditors’ Review Report on the Interim Condensed Consolidated Financial Statements for the 6 month period ended 30 June 2016 and Independent Auditors’ Review Report on the Interim Condensed Financial Statements for the 6 month period ended 30 June 2016.

Selected consolidated financial data

Selected standalone financial data

* Profit and loss items have been converted as a matter of arithmetic computation using the official mid-rates announced by the National Bank of Poland prevailing on the last day of each month.

** Balance sheet items and book value per share have been converted using the official mid-rates announced by the National Bank of Poland prevailing on the balance sheet date.

Independent Auditor’s Report on review of interim condensed consolidated financial statements

To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A.

Introduction

We have reviewed the accompanying interim condensed consolidated financial statements of Arctic Paper S.A. Capital Group (‘the Group’), with parent’s company Arctic Paper S.A. (‘the Company’) registered office located at Jana Henryka Dabrowskiego 334A in Poznan as of 30 June 2016 and the related interim condensed consolidated balance sheet as at 30 June 2016, the interim condensed consolidated income statement, the interim condensed consolidated statement of comprehensive income, the interim condensed consolidated statement of changes in equity, the interim condensed consolidated cash flow statement for the period from 1 January 2016 to 30 June 2016 accounting policies and other explanatory notes (‘the interim condensed consolidated financial statements’).

Management is responsible for the preparation and presentation of accompanying interim condensed consolidated financial statements in accordance with International Financial Reporting Standard IAS 34 Interim Financial Reporting as adopted by the European Union (‘IAS 34’). Our responsibility is to express a conclusion on accompanying interim condensed consolidated financial statements based on our review.

Scope of review

We conducted our review in accordance with National Financial Revision Standard 2410 based on International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity prepared by International Auditing and Assurance Standards Board (‘standard’). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on accompanying interim condensed consolidated financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34.

Independent Auditor’s Report on review of interim condensed financial statements

To the General Shareholders Meeting and Supervisory Board of Arctic Paper S.A.

Introduction

We have reviewed the accompanying interim condensed financial statements of Arctic Paper S.A. (‘the Company’) with registered office located at Jana Henryka Dabrowskiego 334A in Poznan as of 30 June 2016, and the related interim condensed balance sheet as at 30 June 2016, the interim condensed income statement, the interim condensed statement of comprehensive income, the interim condensed statement of changes in equity, the interim condensed cash flow statement for the period from 1 January 2016 to 30 June 2016, accounting policies and other explanatory notes (‘the interim condensed financial statements’).

Management is responsible for the preparation and presentation of accompanying interim condensed financial statements in accordance with International Financial Reporting Standard IAS 34 Interim Financial Reporting as adopted by the European Union (‘IAS 34’). Our responsibility is to express a conclusion on accompanying interim condensed financial statements based on our review.

Scope of review

We conducted our review in accordance with National Financial Revision Standard 2410 based on International Standard on Review Engagements 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity prepared by International Auditing and Assurance Standards Board (‘standard’). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with National Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on accompanying interim condensed financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that accompanying interim condensed financial statements are not prepared, in all material respects, in accordance with IAS 34.

http://mb.cision.com/Main/5162/2065441/554459.pdf

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