NSKOG: Norske Skog continues data centre development at Saugbrugs and seeks new partner

Norske Skog will continue the development work for an 80-100 MW data centre
opportunity at Saugbrugs and will initiate a process to identify a new
industrial data centre partner. Norske Skog and Green Mountain will not extend
the letter of intent regarding the development of a data centre at Norske Skog
Saugbrugs.

With the letter of intent having expired on 31 October, Norske Skog and Green
Mountain have agreed not to extend the current cooperation. Norske Skog will
continue to explore the opportunity for a data centre at a site that benefits
from access to significant power capacity and existing industrial
infrastructure. Norske Skog continues to see attractive potential for data
centre development and will initiate a process to identify a new industrial data
centre partner. The Halden Municipal Council recently adopted the planning
programme for a data centre development at areas not used for fibre processing
and paper production at Saugbrugs.

"We will continue to explore data centre development at Saugbrugs and start the
process of identifying a new partner based on incoming interest from several
data centre developers attracted by the revised concept. Together with the
investment in PM6 and NND's decommissioning activities, we believe this can
contribute to significant investment, industrial activity and long-term value
creation in Halden," says Geir Drangsland, CEO of Norske Skog.

This information is considered to include inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Even Lund, Senior Vice President
Corporate Finance at Norske Skog ASA, on 1 November 2026 at 20:15 CET.

About Norske Skog

Norske Skog is a producer of packaging paper and publication paper across four
mills in Europe. Packaging paper includes testliner and fluting and publication
paper includes newsprint and magazine paper. The annual production capacity of
packaging paper is 0.8 million tonnes, and the annual production capacity of
publication paper is 1.2 million tonnes. Packaging paper and publication paper
are sold through sales offices and agents. Norske Skog has approximately 1 650
employees and the parent company, Norske Skog ASA, a public limited liability
company, is incorporated in Norway and has its head office in Oslo. The company
is listed on Oslo Stock Exchange with the ticker NSKOG.

For further information:

Norske Skog media:
Vice President Communication and Public Affairs
Carsten Dybevig
Email: carsten.dybevig@norskeskog.com
Mob: +47 917 63 117

Norske Skog capital markets:
Senior Vice President Corporate Finance
Even Lund
Email: even.lund@norskeskog.com
Mob: +47 906 12 919
\
Even Lund\
Email: even.lund@norskeskog.com\
Mob: +47 906 12 919\