Decrease of the share capital of PPU AM

NOTICE N.º 0049/17

We hereby inform that, on 13^th January, 2017, the share capital of Navigator Pulp Holding, S.G.P.S., S.A. shall be reduced from 227.600.000,00 to 126.000.000,00 EUR, registered under the code PPU AM.

INTERBOLSA, 13^th January, 2017