Reference is made to the stock exchange notice published on 8 February 2023
regarding the completion of a block sale of 15,896,681 existing shares in Norske
Skog ASA ("Norske Skog") at a price per share of NOK 71.00 by NS Norway Holding
AS ("NSNH"). The sale represented NSNH's entire shareholding.

Oceanwood Capital Management LLP ("Oceanwood") is the appointed investment
manager to NSNH. Following the sale, Oceanwood has reduced the number of shares
ultimately managed from 16,136,681 shares to 240,000 shares (representing
approximately 0.25% of Norske Skog's outstanding shares and votes). The
remaining 240,000 shares are held by Oceanwood Opportunities Master Fund.

Jen-Yue (John) Chiang, Chair and primary insider in Norske Skog, is a senior
partner in Oceanwood.

Please refer to the attached notification of trading for further details.

This information is subject to the disclosure requirements in the EU Market
Abuse Regulation (EU 596/2014 article 19) and section 5-12 of the Norwegian
Securities Trading Act.

For further information, please contact:
Even Lund, Investor Relations Manager, ir@norskeskog.com, +47 90 61 29 19