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2015-09-28

Norske Skog: Norske Skog and NTE enter into a new energy contract

Norske Skog has signed an energy contract with NTE (Nord-Trøndelag
Elektrisitetsverk) for the supply of electricity to the Skogn paper mill.

The new agreement replaces the agreement signed in 2012. The new agreement
will, together with an agreement that was signed with Statkraft in 2011,
secure Norske Skog Skogn with sufficient energy for the full operation of the
plant. For NTE, the agreement represents a predictable supply of renewable
energy to one of the company's most important customers. The agreement is on
commercial terms and is valid for 16 months from 1 September 2015. The new
agreement with NTE ensures supply of 0.4 TWh per year until 31 December 2016.

- Norske Skog Skogn is important for the Group, for the forest industry in
Central Norway and for jobs at Skogn. If we are to be competitive going
forward, we must have even lower costs than today. It requires that energy
and raw material costs are reduced further. The order situation is somewhat
improved over the past few weeks, and can therefore lead to earlier
initiation of PM2 than predicted, says CEO Sven Ombudstvedt in Norske Skog.

- NTE is pleased to have an agreement with a key energy-intensive industrial
plant in our region. Norske Skog at Skogn is a cornerstone business in
Nord-Trondelag with great importance for value creation and employment. The
energy agreement also correlates well with our hedging strategy for energy
production, says energy director Kenneth Brandsås in NTE.

- Challenging market conditions in the industry requires that the mill must
have access to stable and secure energy supply at an acceptable price to
maintain operations. The agreement with NTE represents considerable power
cost savings, which are necessary to maintain competitiveness at Skogn, says
CEO Sven Ombudstvedt Norske Skog.

Norske Skog Skogn employs 350 people. Production started in 1966. The mill
produces newsprint, with the United Kingdom as the largest single market. NTE
is the leading energy company with 650 employees in the region of Trøndelag.

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| Oslo/Steinkjer, 28 September 2015 |
| |
| Norske Skog NTE |
| |
|Communications and public affairs Communication department |
| |
| For further information: |
| Norske Skog media: Norske Skog financial market: |
| |
|Vice President Corporate Communication Vice President Investor Relations |
|Carsten Dybevig Tom Rogn |
|Mob: +47 917 63 117 Mob: +47 948 55 659 |
| For NTE: For NTE: |
| |
|Energy director Information manager |
|Kenneth Brandsås Dagfinn Brendmo |
|Mob: +47 992 68 097 Mob: +47 915 42 105 |
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norske Skog via Globenewswire

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