Verso Corporation Announces Price Increase For Selected Coated Freesheet Products

• Interfor generated $205.0 million of cash flow from operations before changes in working capital, or $3.07 per share, and an additional $24.9 million of cash from reduced working capital. • Capital spending was $36.0 million, including $21.7 million on high-return discretionary projects primarily in the U.S. South. US$96.1 million has been spent on the Company’s Phase II strategic capital plan through December 31, 2020. • Net debt ended the quarter at $(75.4) million, or (7.5)% of invested capital, resulting in available liquidity of $787.5 million.

UPM has signed an agreement to sell its Chapelle Darblay newsprint mill site to a consortium of two partners Samfi and Paprec France SAS. The transaction is subject to customary approvals. The sale of Chapelle Darblay is an asset sale, and no personnel will be transferred. UPM has permanently ceased production and agreed a social plan for its employees at its Chapelle newsprint mill in Grand-Couronne, France in June 2020. Samfi and Paprec plan to develop the site into a platform for the supply of green energy and the production of raw materials from recycling. The future site would consist of a sorting and packaging plant for paper and plastics, an on-site power generation facility using biomass and a production facility for renewable hydrogen.

UPM inaugurates today its new pulp terminal in the port of Montevideo, Uruguay. This investment of approximately USD 280 million is a fundamental part of UPM’s USD 3.47 billion growth investment in Uruguay that includes a state-of-the-art pulp mill in Paso de los Toros, new eucalyptus tree nursery as well as local community investments in Paso de los Toros. “This is a significant milestone in our growth project in Uruguay. The new pulp terminal with direct connections from the new pulp mill and to the global markets plays a key role in the growth and competitiveness of UPM’s pulp business,” says UPM President and CEO Jussi Pesonen. “The public infrastructure investments to the deep sea port and railway improve the competitiveness of all export sectors in Uruguay.”