Norske Skog ASA ("Norske Skog", Oslo Børs Ticker: NSKOG) has been notified that
the following transaction has been completed today, 3 February 2023, by a
primary insider in Norske Skog:

Oceanwood Opportunities Master Fund ("OOMF") has today bought 80,000 shares in
Norske Skog for an average price of NOK 72.3021 per share. Oceanwood Capital
Management LLP is the appointed investment manager to OOMF. Jen-Yue (John)
Chiang, Chair and primary insider in Norske Skog, is a senior partner in
Oceanwood Capital Management LLP.

After the purchase, Oceanwood Capital Management LLP ultimately manages
16,136,681 shares (equal to approximately 17.1%) in Norske Skog ASA.

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