Adjustment of synthetic share options exercise price under the Long-Term Incentive programme

Reference is made to press release dated 20 November 2023. On 7 February 2024, the board of directors of Norske Skog ASA (“Norske Skog” or the “Company”) has agreed to adjust the exercise price of the 272,000 synthetic options previously awarded to the Chief Executive Officer and primary insider of Norske Skog, Geir Drangsland, from NOK 72.92 to NOK 42.18 to reflect the share price at the first day of employment. Further details of the primary insider transactions pursuant to the EU Market Abuse Regulation article 19 are attached. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. Norske Skog Communications and Public Affairs 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: Vice President Corporate Finance Even Lund Email: Even.Lund@norskeskog.com Mob: +47 906 12 919