"Thanks to the efforts of the Verso team, Verso delivered excellent safety results and solid financial performance in the fourth quarter driven by improved sales and operations year-over-year," said Verso President and Chief Executive Officer Randy Nebel. "As we look toward the future, we believe our pending combination with BillerudKorsnäs will enable our customers and employees to benefit from enhanced opportunities as part of a larger, stronger organization. Our full Board believes the proposed merger maximizes value for shareholders, who will receive a significant premium and immediate and certain value for their shares of Verso." Net sales for the three months ended December 31, 2021 increased $14 million or 4% compared to the three months ended December 31, 2020 driven by favorable price/mix of $57 million, partially offset by $43 million, or 14%, in decreased sales largely attributable to our sold Duluth and idled Wisconsin Rapids mills. Total company sales volume was down from 392 thousand tons during the three months ended December 31, 2020, to 341 thousand tons during the same period of 2021, primarily attributable to our sold Duluth and idled Wisconsin Rapids mills.

Teemu Salmi, CIO, Head of IT & Digitalisation and a member of the Group Leadership Team, has decided to leave his position at Stora Enso. After five years in the company, Teemu will assume the CEO position at Finnish cyber security company Nixu. Teemu will continue working in Stora Enso until 20 May 2022. “Teemu has been instrumental in driving and accelerating Stora Enso’s digitalisation agenda, supporting our transformation to become the renewable materials company. I want to express my gratitude and thanks to Teemu for his contributions to Stora Enso, while also wishing him all the very best for his new exciting career opportunity,” says Annica Bresky, President and CEO at Stora Enso. As part of Stora Enso’s new operating model, IT & Digitalization will moving forward be part of the CFO organisation and report to CFO Seppo Parvi. Seppo and Teemu will immediately start the handover process to ensure a smooth transfer of the responsibilities.

Total European shipments of graphic papers in December 2021 were UP 3.2% vs. December 2020 and were UP 4.4% year-to-date. Total European shipments of newsprint in December 2021 were down 5.5% vs. December 2020 and were down 3.4% year-to-date. Total European shipments of sc-magazine in December 2021 were down 6.9% vs. December 2020 and were down 0.7% year-to-date. Total European shipments of coated mechanical reels in December 2021 were UP 9.7% vs. December 2020 and were UP 3.0% year-to-date. Total European shipments of uncoated mechanical (improved & others) in December 2021 were down 6.2% vs. December 2020 and were UP 2.5% year-to-date. Total European shipments of coated woodfree in December 2021 were UP 11.2% vs. December 2020 and were UP 11.7% year-to-date. Total European shipments of uncoated woodfree in December 2021 were UP 10.2% vs. December 2020 and were UP 10.7% year-to-date.

In a world desperate for alternatives to plastics, the market-pull for dry molded fiber is enormous. To support converters in the transition to the new technology, PulPac continuously expands its network of preferred partners and suppliers. Solenis, a leading global producer of specialty chemicals focused on delivering sustainable solutions, has joined this global network of leaders supporting the dry molded fiber community. "We are excited to be a force for sustainable change in the packaging industry by contributing to this groundbreaking technology. Solenis has a prominent culture of innovation, consistently delivering new-to-the-world products and next-generation technologies to meet the ever-changing market needs and challenges our industrial customers face. I believe we are uniquely positioned to provide safe and sustainable barrier solutions designed for circularity to the dry molded fiber converters that lead the way and set new standards for fiber-based packaging,” says Daniel Palrén, Business Development Manager at Solenis. “Fiber-based products coated with these barrier coatings typically are repulpable, recyclable, compostable and biodegradable, thereby offering packaging producers a way to improve their sustainability credentials with brand owners, retailers and consumers.”

Neenah, Inc. announced a 25 million euro investment in new meltblown capacity in our German filtration facility. Neenah is committed to accelerating growth in life science and industrial filtration markets. Our portfolio of meltblown products promotes higher filtration efficacy and lower energy usage, which our customers value. Our electrostatically charged NeenahPure® media solutions support HVAC, air pollution control, and air purification systems, delivering market leading efficiencies >99.9%. "Clean air and water are critical to our communities and environment. Meltblown technology effectively removes harmful particles from the air we breathe and the water we drink. This new meltblown line intensifies our innovation efforts and allows us to continue to grow with our customers," said President and CEO Julie Schertell.

Stora Enso announced that it has signed a letter of intent to divest the Kvarnsveden site in Sweden to Northvolt. Due to structural decline in demand for graphical paper, in April 2021 Stora Enso announced a plan to close its Kvarnsveden paper production site. Founded in 1900, Kvarnsveden produced pulp and paper for over 120 years until production ended in September 2021. Northvolt is a European supplier of sustainable battery cells and will develop the site into a battery manufacturing plant, reusing and refurbishing the existing facilities and site infrastructure. According to Northvolt, the gigafactory is expected to start the first part of its operations in late 2024, and will employ up to 1,000 people.

Canfor Corporation has entered into a Letter of Intent with McLeod Lake Indian Band and Tsay Keh Dene Nation to sell its forest tenure in the Mackenzie region of British Columbia (BC) and a separate agreement with Peak Renewables to sell its Mackenzie site, plant and equipment for a combined price of $70 million. Canfor, McLeod Lake Indian Band and Tsay Keh Dene Nation intend to work towards a definitive agreement for the sale of the forest tenure and will seek approval from the BC Minister of Forests, Lands, Natural Resource Operations and Rural Development for the tenure transfer.

Kimberly-Clark Corporation announced that it has completed its acquisition of a majority stake in Thinx, Inc., an industry disruptor and the leader in reusable period and incontinence underwear category. The company made an initial minority investment in Thinx in 2019. "Our investment in the success of Thinx represents a compelling strategic fit as we build our portfolio of period and light bladder leakage solutions, and we are excited for the opportunity this expanded partnership will provide to both Kimberly-Clark and Thinx," said Russ Torres, Group President of Kimberly-Clark's North American consumer business. "The investment in Thinx paves the road for collaboration and allows us to work together to drive category growth with our retail partners while continuing to support Thinx in direct-to-consumer channels."

Solenis, a leading global producer of specialty chemicals, will increase prices across all product lines in North America and Latin America by 10 to 25 percent, effective April 1, 2022, or as customer contracts allow. These price increases are necessary because of increased costs for raw materials, energy, transportation, and packaging. These increases will allow Solenis to continue to provide value-added solutions to customers.

Intense negotiations between UPM and Paperworkers’ Union continue. Today the union announced a three weeks’ extension to the strike at most UPM’s Finnish mills, until 2 April 2022, unless new collective labour agreements are reached before that. The Paperworkers’ Union’s strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland began 1 January 2022. Currently, approximately 200 union members work at the mills in tasks critical to society, such as power plants and water treatment facilities. “In recent weeks the parties have negotiated both in the presence of the National Concialiator as well as in one-on-one negotiations. The parties now are familiar with each other’s objectives, so the negotiators have the chance to bargain and reach business-specific agreements,” says Jyrki Hollmén, Vice President, Labour markets, UPM. “Intense negotiations will continue. We call for rapid progress and spirit of compromise, so we can find satisfactory solutions for all parties and start our mills again. UPM businesses are doing their best to advance an open dialogue between the negotiating parties,” Hollmén concludes.

*Net loss from continuing operations for the fourth quarter was $28 million, $1 million favorable to the comparable period in 2020 *Amidst strong demand, secured double-digit percent price increases along with volume improvements for cellulose specialties contracts in 2022 *Expect to drive EBITDA growth in 2022 focused on higher pricing, managing costs and improved reliability; expect a stronger back half with extensive maintenance outages heavily weighted to the first half of 2022 *Enhanced sustainability disclosures in updated Environmental, Social and Governance (ESG) Report, including a Greenhouse Gas reduction target of 40% by 2030 from 2020 levels

In the next two years Sappi will be investing a sum in the low double-digit millions to expand its Centre of Excellence for speciality papers at its facility in Carmignano, northern Italy. With this investment, the company plans to increase production capacity to support further growth in the existing dye sublimation business, in combination with an improved first-class service and lead times. *Expansion of the Mill facility to meet growing demand *Support the current growth of the dye sublimation industry *Improve lead time and sustainability footprint of the Mill. The conversion is scheduled for completion by the end of 2023.

Metallized, Thermal, Cast Coated and Carbonless products impacted - Unsuccessful collective agreement negotiations between Lecta and the trade unions representing the labour force in the Leitza mill resulted in the trade unions starting an intermittent strike as of January 30. Despite all the efforts put in finding a reasonable solution to this issue, trade unions informed that the strike will become indefinite as of today. This unfortunate event will disrupt production schedule in the Leitza mill and will result in orders of the impacted products being postponed and/or cancelled. Lecta is taking all relevant measures to end this conflict as soon as possible and mitigate any inconvenience or disruption this unfortunate situation may have on our clients and is committed to restoring regular production schedule as soon as possible.

Ahlstrom-Munksjö, Ellepot, and OrganoClick have partnered to provide 100% biobased and biodegradable solutions to the horticulture market. Organic 2.0 paper pot is an entirely organic-based solution to grow crops on an industrial scale. The new product has allowed the companies to enter the organic crop segment, which is expected to grow exponentially in the coming years. Organic 2.0 results from a close collaboration between Ellepot, OrganoClick and Ahlstrom-Munksjö's R&D team. After years of co-development, the three companies created a sustainable and more economical solution to grow plants by using paper pots planted directly into the soil. The pots degrade away after time which allows for the crop's roots to penetrate through the media and supports the healthy growth of the plants. Organic 2.0 paper pot consist of 100% fully compostable and biodegradable materials and has a decomposition time of 6 to 8 weeks.

The construction of Wisdome Stockholm, a scientific experience arena, is now underway. The building at Sweden’s National Museum of Science and Technology in Stockholm has a pioneering design and will be a landmark object for sustainable and climate-smart construction in wood. Stora Enso is the main partner and delivers wood construction materials to Wisdome Stockholm. Wisdome Stockholm is a spectacular wooden building design of 1,325 square meters with a unique vaulted roof. Inside the building, there is a globe-shaped dome theatre of 21.6 meters in diameter hosting a 3D cinema with a spherical screen. "We are a proud supplier to this ground-breaking project. Wisdome Stockholm pushes the boundaries and shows what is possible to create with wood as a climate-friendly construction material. Through unique projects like this we can strengthen our customer offering as well as our leading position within renewable construction materials,” says Per Lyrvall, Country Manager Sweden, Stora Enso.

Canfor Pulp Products Inc. is announcing a minimum six-week curtailment of BCTMP production at Taylor Pulp in response to significant transportation shortages that have resulted in inventories at the pulp mill reaching capacity. “Taylor Pulp has been dealing with ongoing transportation challenges that have significantly impacted the facility’s ability to ship product,” said Don Kayne, Chief Executive Officer, Canfor Pulp. “We regret the impact the curtailment will have on our employees, their families and the community.” Already facing increasing fibre costs due to the constrained fibre supply in the region and a weaker longerterm outlook for BCTMP markets, the current logistical issues have created a very challenging business environment for Taylor Pulp. During the curtailment, Canfor Pulp will continue to monitor the supply chain constraints and assess opportunities to improve the operating economics of the mill. The curtailment will reduce the production of BCTMP by at least 25,000 tonnes.

Full Year Highlights *We achieved an improvement in our safety recordable incident rate by approximately 30 percent. *Net sales of $1,028.5 million increased 30 percent compared to 2020, primarily driven by organic volume growth, pricing actions and the impact of the acquisition of Itasa. *In April 2021, we acquired Itasa, a leading global coater and converter of release liners used in hygiene, tapes, industrial labels, composites and various other end markets. The purchase price was $240.2 million, and in the first nine months of ownership, Itasa has generated incremental net sales of $106.9 million. *We executed several operational initiatives, including a $13 million investment in new coating capacity starting up in 2023, closure of our Appleton, Wisconsin facility to save $7-8 million annually, and restarting an idled asset to support growth in premium packaging. *We made meaningful progress on key environmental, social and governance initiatives, including actions designed to reduce energy usage, water consumption and greenhouse gases, recognition through leading sustainability rating agencies (including EcoVadis Gold Medal in Spain and Silver Medal in all other locations) and advancements in the diversity of our Board of Directors (with half identifying as female or underrepresented minorities).

U.S. purchases of total printing-writing papers increased nine percent in January compared to the same month last year. Total U.S. printing-writing paper inventory levels increased one percent in January 2022 when compared to December 2021. *Uncoated free sheet (UFS) paper shipments decreased three percent compared to January 2021 while the inventory level increased two percent compared to December 2021. UFS imports and exports both decreased compared to December 2020, down eight percent and 13 percent respectively. *U.S. purchases of coated free sheet (CFS) papers in January increased 29 percent compared to last January while the inventory level remained essentially flat (+0.4 percent) compared to December 2021. CFS imports increased 58 percent while exports decreased eight percent in December 2021. *Coated mechanical (CM) paper shipments increased nine percent compared to January 2021 while the inventory level decreased six percent compared to December 2021. CM imports increased 24 percent while exports decreased 20 percent in December 2021. *U.S. purchases of uncoated mechanical (UM) papers in January increased eight percent compared to last January while the inventory level increased six percent compared to December 2021. UM imports and exports both increased compared to December 2020, up 21 percent and 18 percent respectively.

Mercer International Inc. reported fourth quarter 2021 Operating EBITDA increased to a record $164.9 million from $49.5 million in the fourth quarter of 2020 and from $148.1 million in the third quarter of 2021. In the fourth quarter of 2021, net income was $74.5 million (or $1.13 per basic share and $1.12 per diluted share) compared to a net loss of $13.0 million (or $0.20 per share) in the fourth quarter of 2020 and net income of $69.1 million (or $1.05 per basic share and $1.04 per diluted share) in the third quarter of 2021. In 2021, Operating EBITDA increased to a record $478.8 million from $192.7 million in 2020. In 2021, net income was a record $171.0 million (or $2.59 per basic share and $2.58 per diluted share) compared to a net loss of $17.2 million (or $0.26 per share) in 2020.

Norske Skog Saugbrugs, together with its research and industry partners, has been granted NOK 60 million in research funding from the Research Council of Norway and Innovation Norway under the Green Platform Programme. The portfolio of products to be developed aims to remove or greatly reduce the use of petroleum-based raw materials and harmful materials, as well as to contribute to increased recycling of plastics. «It is through research and innovation that we create tomorrow's sustainable society. Green platform is an important measure to ensure profitable green transition, and will help us become more skilled at scaling up and linking research to the market», says Jan Christian Vestre, Minister of Trade and Industry (Labour Party). CEO of Norske Skog, Sven Ombudstvedt, says: «Norske Skog will connect strong professional R&D environments to develop unique and sustainable nanocellulose and biocomposite products that the world will demand more of in the future. Our unique fibre expertise will be a valuable contribution in creating sustainable commercial value chains by utilising recycled and renewable raw materials».

Canfor Corporation announced the permanent reduction of 150 million board feet of production capacity at its Plateau Sawmill to resize the facility and align it with the available, sustainable timber supply in the region following the devastating impacts of the Mountain Pine Beetle infestation and other constraints on the timber harvesting land base. The reduction in production capacity will be achieved through a partial plant closure and the elimination of one of the three production lines in the mill. The capacity reduction is expected to impact approximately 70 employees at the facility and is anticipated to take effect at the end of the second quarter of 2022 following the depletion of existing log inventory. Canfor will mitigate the impact to affected employees by offering employment opportunities at other Canfor locations, along with relocation and transition support. “As the allowable annual cut has decreased in the region, it is necessary to resize the facility to align with the sustainable fibre supply,” said Don Kayne, President and CEO, Canfor. “I want to thank our Plateau employees for their ongoing dedication and hard work, and we are committed to providing comprehensive support to those employees impacted by today’s announcement, including offering jobs at other Canfor facilities. We will work to minimize the impacts this decision has on our employees, their families, our contractors and the community.”

Resolute Forest Products Inc. announced two separate transactions to grow and improve the competitiveness of its wood products business. Resolute reached an agreement with Louisiana-Pacific Corporation to acquire the latter's 50% equity interest in two joint ventures that produce I-joists in the Lac-Saint-Jean region of Quebec for $50 million, subject to customary adjustments. Resolute-LP Engineered Wood Larouche Inc. and Resolute-LP Engineered Wood St-Prime Limited Partnership are located in Larouche and Saint-Prime, respectively, and are equity method investments in which Resolute has a 50% interest in each entity. Resolute operates the facilities and its joint-venture partner, Louisiana-Pacific, sells the products. Resolute will enter into agreements with Louisiana-Pacific to continue to serve as the exclusive distributor of the engineered wood products manufactured at the two operations. In a separate transaction, Resolute also announced an agreement signed on February 11 with Boralex (TSX: BLX) for the purchase of a cogeneration facility in Senneterre, Quebec. "The purchase of the 34.5-megawatt cogeneration facility, adjacent to our Senneterre sawmill, builds on our significant investments in the region, including the ongoing project toward a new planer and associated equipment we announced last summer, as well as operational improvements recently completed at our Comtois sawmill. With this cogen, we will maximize the use of biomass from our regional operations, generating green power and providing a platform for future growth and enhanced competitiveness in the Abitibi-Témiscamingue region. We are pleased to welcome the 30-plus employees of the cogeneration facility to Resolute," added Mr. Lalonde.

Paper Excellence today announced an indefinite production slowdown of its Meadow Lake, Saskatchewan BCTMP mill due to repeated lack of railway service. Meadow Lake Mechanical Pulp Inc., which employs 190 people and infuses over $1 million daily into Canada’s economy, is dependent on CN Rail, which has failed to transport Meadow Lake’s pulp production to ports for months. The mill has exhausted local storage facilities. “While we remain committed to servicing our customers’ needs during this slowdown, we are extremely concerned about this railway situation and hope that it can be resolved soon,” said Stew Gibson, Vice President, Operations and Logistics.

Fourth-Quarter Highlights: *Net income of $62 million ($1.41 per diluted share) compared with $92 million ($2.09 per pro forma share1) in the third quarter of 2021 *Free cash flow4 (non-GAAP) of $162 million compared with $135 million in the third quarter of 2021. Fourth-Quarter Commercial and Operational Highlights: *Price and mix improved by $41 million versus the prior quarter and volume improved by $14 million, reflecting solid industry fundamentals and continued commercial excellence performance by our teams *Operations improved by $2 million and total planned maintenance outage expenses increased by $24 million versus the prior quarter *Input costs increased by $39 million versus the prior quarter, reflecting higher costs for wood, energy, chemicals, packaging and distribution *Repaid $124 million of debt, achieving a gross debt-to-adjusted EBITDA ratio of 2.4x at year-end

Stora Enso invests EUR 9 million in an automated CLT (cross-laminated timber) coating line at the Ybbs sawmill in Austria. The investment will further strengthen Stora Enso’s position as a leading global provider of engineered wood products for low carbon, sustainable buildings. In the construction industry, there is labor shortage and a pressure to shorten the construction time on-site. The investment enables industrially pre-applied CLT coatings on the CLT walls and floors produced at Stora Enso’s Ybbs site. The automated coating solution results in shorter construction times and higher wood protection. “With this new automation line, we can apply high-quality water-based coating to approximately 500,000m² of CLT walls and floors per year – making us the world leader in this segment. Our customers will benefit from improved protection of CLT against moisture, sunlight, insects and fire, as well as nicely coloured visual surfaces,” says Lars Völkel, EVP Wood Products division.

Tork, an Essity Brand, has announced a strategic partnership with the Association for Professionals in Infection Control and Epidemiology (APIC) once again in 2022. APIC is the leading association for infection prevention and control (IPC) professionals, with more than 15,000 infection preventionist (IP) members. The APIC Strategic Partner program establishes long-term relationships with industry partners united in the common goal advancing the science and practice of infection prevention and control in healthcare facilities and beyond. APIC Strategic Partners play an important role in supporting many of the educational initiatives and services that benefit APIC’s membership, which is comprised of nurses, physicians, epidemiologists, microbiologists, public health professionals and other individuals dedicated to preventing the spread of infection.

The boards of Rottneros and Arctic Paper have decided to invest 15 million euro in a moulded fiber tray factory at Arctic Papers premises in Kostrzyn, Poland. The factory will be operated in a separate legal entity and as a 50/50 joint venture, in line with the LOI that was signed by the parties on October 22nd, 2021. “We are seeing a rapidly growing demand for moulded fiber trays, and we are pleased to announce that we are now ready to move forward with our plan to launch the first industrial scale production of high barrier fiber-based packaging. The collaboration of the two parties combines Arctic Papers favorable location and existing infrastructure with Rottneros technological know-how and will bring benefits to both companies”, said the CEOs of Rottneros and Arctic Paper, Lennart Eberleh and Michal Jarczyński, in a joint statement.

We are very pleased to announce that, effective 1 March 2022, Gilles Van Nieuwenhuyzen will become CEO of Lecta Group. He will also be appointed as Director of Lecta Ltd succeeding Eduardo Querol. Gilles has a vast and diversified experience in different industries such as chemicals (DSM ), packaging (Rexam and Stora Enso), food ingredients (Danisco and CSM), and paper & board (Stora Enso). He has also served several positions as independent advisor and top interim executive . Gilles has proven all along his career a successful focus on the same pillars which form the basis of Lecta transformation today. He will drive with energy and passion our path to profitable growth through innovation, value selling and focused investment while developing further our operational excellence initiatives.

HIGHLIGHTS • Pulp sales of 2,722 thousand tons (+2% vs. 4Q20). • Paper sales of 371 thousand tons (+5% vs. 4Q20). • Adjusted EBITDA1 and Operating cash generation²: R$6.4 billion and R$4.8 billion, respectively. • Adjusted EBITDA1 /ton from pulp of R$2,114/ton (+59% vs. 4Q20). • Adjusted EBITDA1 /ton3 from paper of R$1,619/ton (+32% vs. 4Q20). • Average net pulp price in export market: US$630/ton (+38% vs. 4Q20). • Average net paper price3 of R$5,109/ton (+24% vs. 4Q20). • Pulp cash cost ex-downtime of R$747/ton (+20% vs. 4Q20). • Leverage down to 2.4 times in USD and 2.5 times in BRL.

JANUARY–DECEMBER 2021 (1–12/2020) •Sales were EUR 6,017 million (5,055). •Operating result was EUR 874 million (376). Comparable operating result was EUR 914 million (368). •Result before taxes was EUR 832 million (330). Comparable result before taxes was EUR 872 million (322). •Comparable return on capital employed was 16.2% (7.1). •Net cash flow from operations was EUR 1,023 million (667). OCTOBER–DECEMBER 2021 (10–12/2020) •Sales were EUR 1,560 million (1,357). •Operating result was EUR 221 million (97). Comparable operating result was EUR 220 million (94). •Result before taxes was EUR 215 million (88). Comparable result before taxes was EUR 214 million (86). •Comparable return on capital employed was 14.7% (7.4). •Net cash flow from operations was EUR 427 million (306).

UPM’s negotiations with the Finnish Paperworkers’ Union (Paperiliitto) are now underway for UPM Pulp, with the other UPM businesses expected to follow, according to media reports from Finland. Finnish trade publication Print&Media has reported that, following movement with the situation on Friday, negotiations have started today (7 February) for the UPM Pulp business and negotiations on UPM’s other divisions should also begin this week. The publication was also sent a comment from labels division UPM Raflatac, in response to the warning from the European association for the self-adhesive label industry, Finat, on the availability of label stocks, which it shared with Printweek: “The strike further aggravates the industry level supply situation which has been tight and constrained already since early 2021.

After 14 years with Canfor, Alan Nicholl, Executive Vice President, Bio-Based Solutions & Pulp Operations, has accepted the role of Managing Director with Licella Holdings, Canfor’s joint venture partner in Arbios Biotech (Arbios) effective April 2022. Alan will continue to serve as President & CEO of Arbios. David Calabrigo, Senior Vice President, Corporate Development, Legal Affairs and Corporate Secretary, has assumed responsibility for leading the Bio-Innovation team as the Company continues to pursue opportunities to develop bio-based solutions to address the growing demand for low carbon, renewable products. Kevin Anderson, Vice President, Operations, Canfor Pulp is now reporting directly to Don Kayne, CEO, Canfor Pulp.

Verso Corporation announced the filing of a definitive proxy statement for a special meeting of stockholders, at which Verso stockholders will consider and vote upon various items related to the proposed and previously announced transaction with BillerudKorsnäs AB. If approved, all Verso stockholders will receive $27.00 per share in cash upon closing of the transaction, representing immediate and certain value at a significant premium. The consideration corresponds to a premium of approximately 57% compared to the unaffected closing price of Verso's shares on July 9, 2021, the day prior to the submission of an unsolicited, non-binding proposal to acquire Verso for $20.00 per share in cash, and a 35% premium over that unsolicited proposal.

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am very pleased with an excellent performance from the group. We outperformed the guidance provided at the end of the last quarter with EBITDA at US$240 million, a 36% increase over the prior quarter (US$177 million) and more than double the equivalent quarter last year (US$98 million). Robust market demand in all product segments combined with the implementation of higher sales prices facilitated the growth and offset rising costs. This achievement was despite logistics and transport bottlenecks, as well as significant increases in energy, pulp and other raw materials.” Financial summary for the quarter: • EBITDA excluding special items US$240 million (Q1 FY21 US$98 million) • Net debt US$1,917 million (Q1 FY21 US$2,056 million) • Profit for the period US$123 million (Q1 FY21 loss of US$17 million)

With a soon-to-be-launched gluing innovation at Nymölla Mill in Sweden, where Multicopy is produced, the mission towards a more competitive and sustainable paper production continues. One of the latest sustainable innovations at Stora Enso and Multicopy is the EcoSeal ream adhesive technology with a new dotting pattern application, that has recently been launched and will gradually be implemented in the paper production at the Nymölla mill. This new technology, supplied by Valco Melton, a global leader in sustainable gluing, coating machinery and quality assurance technologies, is a great process improvement both when it comes to bond strength and reduced environmental impact. The gluing guns are assembled by hand, and specifically designed for packaging, engineered for every sort of application and high-speed precision gluing.

McKinley Paper Company, the U.S. wholly-owned subsidiary of Bio PAPPEL, continues to grow in the U.S. and today announces the acquisition of 100% of Midwest Paper Group (“Midwest”) from the investment fund IOP. The acquisition of Midwest Paper Group, a large independent containerboard producer located in Wisconsin with a production capacity of 500 thousand tons annually, fits well with Bio PAPPEL– McKinley and substantially increases its current U.S. containerboard production. This allows the company to have a nationwide coverage to support McKinley’s plans of continuous growth in its packaging division as well as to reliably supply its current customer base throughout the U.S. With the acquisition of Midwest Paper Group, as well as the currently under construction and planned super plants of corrugated boxes, Bio PAPPEL will reach combined annual revenues in excess of $3 billion dollars, keeping a low debt level and financial investment grade rating.

Norske Skog’s EBITDA in the fourth quarter of 2021 was NOK 422 million, an increase from NOK 111 million in the third quarter of 2021. Sales prices for all grades increased in the quarter as a necessary consequence of unprecedented high energy costs in Europe and a tightened publication paper market situation following significant capacity closures and post Covid-19 demand recovery. The European mills operated at full capacity during the quarter. Cash flow from operations was NOK 317 million in the quarter compared to NOK -99 million in the previous quarter, positively impacted by the improved operating margins, change in working capital and sale of CO2-allowances, but negatively impacted by employee redundancy payments at the Tasman mill in New Zealand. Operating earnings in the fourth quarter of 2021 were NOK 479 million compared to operating earnings in the third quarter of 2021 of NOK -565 million. Net profit in the quarter was NOK 400 million compared to a net loss of NOK 602 million in the previous quarter. Net interest-bearing debt was NOK 1 054 million at the end of the fourth quarter, with an equity ratio of 34%.

The Finnish Paperworkers’ Union has today informed UPM that their strike at UPM’s Finnish mills will be extended by three weeks until 12 March 2022, unless new agreements are reached before that. The Paperworkers’ Union’s strike at UPM Pulp, UPM Biofuels, UPM Communication Papers, UPM Specialty Papers and UPM Raflatac units in Finland started 1 January 2022. Currently, approximately 200 union members are working in tasks critical to society, such as power plants and water treatment facilities. The union simultaneously informed UPM that it is ready to negotiate with UPM businesses. UPM received an invitation to negotiations concerning UPM Pulp on Monday 7 February. The invitation indicated that the negotiations would be carried out with the CLA advisory board of the union. The board includes members of other forest products companies which means that discussions could be conducted on a very general level. Due to anti-trust compliance, genuine negotiations on UPM’s business-specific issues could not be conducted.

*Q4 GAAP net loss of $128 million / net income of $307 million for 2021 *Liquidity of $953 million / net debt of $190 million at year-end *Repurchased 1.3 million shares in Q4 / 4.6 million shares (6%) in 2021 *Net pension & OPEB liability down by over $400 million at year-end

Mactac® would like to introduce Nick Savelieff, an experienced Operations professional, as the company’s Vice President of Operations. With more than 20 years of experience in the plastics and pressure-sensitive adhesive (PSA) industries and in a variety of roles within supply chain, operations, and sales/marketing, Savelieff will lead the management of Mactac’s North American coating facilities and distribution centers. He will also oversee Mactac’s corporate engineering department. In his role, Savelieff will champion manufacturing excellence and drive a continuous improvement culture across Mactac’s production facilities. Among his primary responsibilities are workplace safety and environmental compliance, strategic operations planning, manufacturing performance and productivity, and asset management and planning.

Highlights: *4Q21 Reported EPS of $2.19, down 4% driven by impact of extra week in prior year *4Q21 Net sales increased 9.7% to $2.2 billion *FY21 Reported EPS of $8.83, up 34% *FY21 Net sales increased 20.6% to $8.4 billion. “2021 marked the company’s tenth consecutive year of strong top- and bottom-line growth,” said Mitch Butier, chairman, president and CEO. “We delivered 19 percent revenue growth on a constant currency basis and 25 percent adjusted earnings per share growth, while generating record free cash flow.

Norske Skog has entered into agreement with Talley’s Group, a New Zealand based dairy, fishing, produce and food company, to sell the Nature’s Flame pellets company for a consideration of approximately NZD 47.8 million (approximately NOK 280 million). The transaction is expected to close during the first quarter of 2022. “Nature’s Flame is an excellent company producing high quality and sustainable energy pellets from wood residues, and thus the sales process generated significant interest. Under our ownership, we have expanded the capacity from producing some 20,000 tonnes when acquired to currently 90,000 tonnes, and we are very pleased that Talley’s has indicated interest to continue the ongoing project to further expand the capacity to 150,000 tonnes."

Sustana, a leading manufacturer of premium, sustainable recycled fiber and paper products, announces the appointment of Jeffrey Crawford to the position of Vice President of Sustainability. Jeffrey brings over 13 years of experience supporting Fortune 500 companies, investors, United Nations agencies, and national governments design and implement sustainability and climate strategies, policies, and projects in Africa, Asia-Pacific, Europe, and North America to Sustana. He will be responsible for driving Sustana’s sustainable products, strategy, and ESG initiatives across Sustana Fiber and Rolland Papers, advancing the group’s leadership in providing sustainable recycled solutions to the paper and packaging industry. Jeffrey will lead the company’s sustainability strategy for Rolland Paper as well as Sustana Fiber recycled fiber operations. Sustana has full control over the fiber production, recycled papermaking, and converting processes and Jeffrey’s role will build upon Sustana’s Sustainability Strategy and be an ambassador for recycled sustainability produced printing papers and packaging plus food packaging.

Stora Enso will invest EUR 40 million in new technology and restructuring of its fluff pulp production site in Skutskär, Sweden. The objective is to increase cost efficiencies and further improve the site’s climate footprint, thereby aligning with Stora Enso’s goal to provide regenerative solutions. Stora Enso is Europe’s leading producer of fluff pulp. The Skutskär site produces fluff pulp used in hygiene products such as baby diapers, feminine care and adult incontinence protection products, as well as in air-laid nonwovens such as wipes, napkins and medical pads. The investment in new bleaching technology supports Stora Enso’s ambitious climate targets and will enhance both operational efficiency and the site’s carbon footprint performance. With its science-based targets updated in 2021, Stora Enso commits to reducing absolute greenhouse gas emissions from operations by 50% by 2030, aligned with the 1.5-degree scenario. The transition to new technology will enable a carbon footprint reduction of 5% for the site’s products through resource and energy efficiencies.

Q4/2021 (year-on-year) *Sales increased by 26.3% to EUR 2,719 (2,154) million. *Operational EBIT increased to EUR 426 (118) million. *Operational EBIT margin increased to 15.7% (5.5%). *Operating profit (IFRS) increased to EUR 839 (289) million including the positive impact from the valuation of biological assets. *Strong cash flow from operations amounted to EUR 619 (436) million. Cash flow after investing activities was EUR 424 (223) million. *The net debt to operational EBITDA ratio improved to 1.1 (2.3). The target is to keep the ratio below 2.0. Year 2021 (year-on-year) *Sales were EUR 10,164 (8,553) million. *Operational EBIT more than doubled to EUR 1,528 (650) million.