SEE Reports Q3 2022 Results

Packaging paper manufacturer Sappi Europe offers the flexible packaging market’s most extensive portfolio of functional papers – with a focus on compelling alternatives to multi-layer material and plastic packaging. The company is further expanding its broad portfolio by adding new products such as Guard ICC, a flexible packaging paper for ice cream cones, Guard OHS a barrier and heat sealable paper for various food and non-food packaging applications and Guard Twist Gloss, a glossy, recyclable wax free barrier paper for twisting applications in the confectionary market. The new products will be presented at Sappi’s booth (Hall 4A, Stand 306) at this year’s FACHPACK (24. to 26. September) in Nuremberg, Europe’s central meeting place for the packaging industry and its users. *The perfect choice for ice cream cones: Guard ICC made for direct food contact *Guard OHS is an attractive complement to our existing high-barrier paper range *For sugar confectionery and chocolate wrappers: Guard Twist Gloss

Due to uncompetitive wood prices from the Polish State Forestry Monopoly and significantly reduced market demand for paper and cardboard products, the company has decided to significantly reduce the planned multi-year strategic investment project at MM Kwidzyn with a focus on energy, further pulp integration and product portfolio, which was announced at the end of April 2023 . MM Kwidzyn will instead focus investments on further increasing its already high share of renewable energy from the current 69%. In addition, discussions were started with employee representatives about a possible closure of the small paper machine (PM 3) for packaging kraft paper and about restructuring, which could lead to a reduction in the workforce of around 110 employees. MM Kwidzyn will continue pulp and virgin fiber board production unchanged. In the paper sector, the PM 1 and PM 2 paper machines will continue to produce up to 360,000tpa of uncoated fine paper and 40-80,000tpa of “IPACK TM Strong Pro” (packaging kraft paper). Since one of the fine paper machines has not been converted, no sack kraft paper will be produced in Kwidzyn.

Berry Global Group, Inc. announced that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $1 billion of its outstanding shares of common stock. The Company currently expects to repurchase at least $350 million of shares outstanding in fiscal year 2022, including the $50 million shares repurchased in the first fiscal quarter, and to fully utilize the program over the next two to three fiscal years. This new, expanded authorization replaces the Company’s existing share repurchase program, and reflects the Company’s strong and dependable cash flow and its desire to opportunistically return capital to shareholders. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, applicable legal requirements and other considerations.