3A Compsites Announces Price Increase

*Operating income was $55 million, $67 million favorable to the comparable period in 2020, driven by higher prices for lumber and commodity High Purity Cellulose along with stronger cellulose specialties volumes *Driven by higher book income tax expense, first quarter loss from continuing operations was $27 million, $2 million unfavorable to the comparable period in 2020; expect minimal cash taxes in 2021 *First quarter Adjusted EBITDA from continuing operations of $91 million was up $64 million from the comparable quarter in 2020 primarily driven by higher lumber and High Purity Cellulose commodity prices along with stronger cellulose specialties volumes *Generated $21 million of Free Cash Flow for the quarter driven by higher prices partially offset by seasonal working capital build; expect $50 million from cash tax refunds during the next 12 months *Announced sale of lumber and newsprint assets for approximately $214 million, subject to inventory value adjustment, with a closing expected in the second half of the year, focusing the Company on its core High Purity Cellulose business, and the opportunity to further leverage sustainable, bio-based solutions

JANUARY–DECEMBER 2020 (1–12/2019) *Sales were EUR 5,055 million (5,473). *Operating result was EUR 376 million (374). The comparable operating result was EUR 368 million (495). *The result before taxes was EUR 330 million (316). The comparable result before taxes was EUR 322 million (436). *Comparable return on capital employed was 7.1% (9.6). *Net cash flow from operations was EUR 667 million (485). OCTOBER–DECEMBER 2020 (10–12/2019) *Sales were EUR 1,357 million (1,290). *Operating result was EUR 97 million (32). The comparable operating result was EUR 94 million (76). *The result before taxes was EUR 88 million (18). The comparable result before taxes was EUR 86 million (62). *Comparable return on capital employed was 7.4% (6.1). *Net cash flow from operations was EUR 306 million (232).

Irving Pulp & Paper, Limited has submitted a preliminary application to undertake a major upgrade to Saint John's westside pulp mill, representing a new long-term capital improvement plan and a potential $1.1-billion investment. Known as NextGen, the project will increase the mill’s capacity while also increasing the green energy it generates, making it one of the top producing kraft pulp mills in the world and a global leader in environmental performance. An Environmental Impact Assessment (EIA) related to the project has been submitted to New Brunswick’s Department of Environment. ​ “These upgrades will ensure Saint John's pulp mill continues to be at the heart of the province's forest products supply chain, and provides a regional market for chips, bark and pulpwood,” said Irving Pulp & Paper Vice President, Mark Mosher.