Norske Skog: Mandatory notification of trade

In connection with the Repair Offer, Chair of Norske Skogindustrier ASA, Jon-Aksel Torgersen, has through his 100% owned company Fiducia AS, today subscribed 1 000 000 shares whereof 671 178 according to the allocation rights and 328 822 in oversubscription. As per today the holding is 3 486 644 shares.

Astrup Fearnley AS with subsidiary (Gironde AS) has subscribed 1 500 000 shares, whereof 1 172 264 according to the allocation rights and 327 736 in over subscription. Jon-Aksel Torgersen is CEO in Astrup Fearnley AS. Astrup Fearnley AS has today a holding of 5 189 688 and Gironde AS 900 000 shares.

Shares subscribed outside of the allocation rights (over subscription) will be subject to and is conditional upon the allocation process to be performed at the end of the subscription period.

Oslo, 31 May 2016

Norske Skog
Communications and Public Affairs