Investor Relation Policy

This investor relations policy (the "IR Policy") apply to Norske Skog ASA ("Norske Skog" or the "Company") and is based on the Oslo Stock Exchange's rules, regulations and recommendations for listed companies, in particular the Oslo Børs Code of Practice for IR, last amended on 1 March 2021 (the "IR Code").

Purpose

This IR Policy shall help Norske Skog build trust and awareness in the investor community by ensuring that investor relation activities are conducted in compliance with relevant rules, regulations and recommended practices. 

The policy shall help ensure that shareholders, potential investors, the market in general and other stakeholders shall gain simultaneous access to accurate, clear, relevant, comprehensive and up-to-date information about Norske Skog. The information provided shall be consistent over time and take account of both positive and negative factors.

Good relations and an open, active dialogue with shareholders, potential investors, analysts and other participants in the capital markets shall build trust and contribute to reduced costs of capital for Norske Skog. 

This policy shall also contribute to the management and the board of directors of Norske Skog obtaining information about the market's views and opinion on Norske Skog.

Norske Skog's Investor Relations team (the "IR team") comprises of the chief executive officer, the chief financial officer and the investor relations officer (if any). 

Shareholder contact and communication with the financial market

All communication with the financial community shall be on an equal treatment basis and in compliance with applicable laws and regulation. Norske Skog shall continually provide its shareholders, the Oslo Stock Exchange and the securities market and financial market in general with timely and precise information about Norske Skog and its operations. 

The IR team is responsible for all day-to-day contact with the financial community on behalf of the Company. 

Inside information shall be dealt with in compliance with the Company's instruction for handling of inside information. The IR team may continually communicate with the financial community for the purposes of developing an understanding of which matters affecting Norske Skog from time to time that are of particular importance to its stakeholders. The IR team will in such cases ensure that the communication with the financial community is in compliance with the provisions of applicable laws and regulations and consistent with the principle of equal treatment of shareholders. 

Relevant information about Norske Skog shall be given in the form of annual reports, quarterly reports, press releases, notices to the Oslo Stock Exchange, meetings and presentations in accordance with what is deemed appropriate from time to time. All such information shall be published on Norske Skog's website, www.norskeskog.com. 

Norske Skog shall offer subscription service for stock exchange announcements and press releases. 

Policy

Norske Skog complies with the IR Code. Any future deviations from the IR Code will be explained as required by the IR Code. 

Disclosure and reporting to the financial markets and contact with shareholders, investors and analysts shall be based on the following main principles:

1. Compliance with laws and regulations: All disclosure, communication and reporting shall be in compliance with the applicable laws and regulations, in particular the Norwegian Securities Trading Act, the Norwegian Accounting Act and Oslo Børs' continuing obligations for listed companies. Norske Skog shall also comply with the relevant recommendations and market practices for reporting financial and other IR information. 
    

2. Inside information: Unless exceptions apply and are invoked,Norske Skog shall promptly disclose all inside information (as defined by the Norwegian Securities Trading Act).

3. Language: All financial and other IR information shall be published in English. All stock exchange notifications shall be published in English and Norwegian. 

4. Information on value drivers: Norske Skog shall publish accurate and relevant information about its historical earnings, operations, outlook and any other information that the Company has defined as significant and relevant for fair valuation of the shares. Such information shall be balanced and consistent over time.

5. Guiding: Norske Skog shall not publish specific guiding on the Group's future financial results. Norske Skog operates in accordance with a set of financial and non-financial strategic targets, established by the board of directors. These targets govern the Group's operations within a defined strategic period. 

6. Quiet period: Investor and analyst meetings shall not be held in the last three weeks prior to the presentation of results. In the same period, no comments shall be made to the media or other external parties regarding the Group's earnings and outlook. 

7. Information on the Company's website: Norske Skog shall comply with the principles of the IR Code in respect of disclosing information to shareholders and the market on the Company’s website as further set forth therein. Norske Skog shall follow the Norwegian Code of Practice for Corporate Governance, including the code’s principles regarding transparency, equal treatment of shareholders and disclosure of relevant information. Information shall therefore be available onwww.norskeskog.com and other places where it is relevant. 

IR events and arenas

In addition to making information easily available on a timely basis to shareholders and the financial markets in general, the IR team shall prioritise raising awareness of, and interest in, Norske Skog and its shares among various market participants - both nationally and internationally. 

To help promote this goal, the following meetings and presentations shall be held: