KOKUSAI PULP & PAPER CO., LTD: Tender Price Increase

17^th September 2020

FOR IMMEDIATE RELEASE

Kokusai Pulp & Paper Co., Ltd.

President & Executive Officer: Tadashi Kurihara

(For inquiries)

Corporate Planning Division

Senior Executive Officer: Hideomi Komai

Tel. [phone]

Kokusai Pulp & Paper Co., Ltd. (KPP) increases the price of its tender offer project on Antalis to EUR 0.90 per share

KPP decided to increase the price proposed to the shareholders of Antalis (Euronext Paris: ANTA) in its upcoming mandatory tender offer followed, if the legal requirements are met, by a squeeze-out, up to EUR 0.90 per share.

Madoka Tanabe, Chairman and Chief Executive Officer of Kokusai Pulp & Paper said: "The price of EUR 0.90 per share is best and final and represents a significant premium on the purchase price for the blocks of shares sold by Sequana and Bpifrance Participations, respectively at €0.10 and €0.40 per share."

In the coming days, Antalis' Board of Directors will render an updated reasoned opinion on the tender offer and the subsequent squeeze-out on the basis of the updated fairness opinion of the independent expert, Finexsi, within the framework of the general regulations of the AMF.

The tender offer is still currently being reviewed by the AMF and remains subject to its clearance decision.

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https://www.actusnews.com/documents_communiques/ACTUS-0-65045-1.4-kpp_tender-price-increase_en.pdf
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