Solenis Acquires Predictive Food Safety Solutions, Expanding Food and Beverage Offering

• Operating profit for 2021 amounted to SEK 3 731 million (2020: 2 479). Excluding the item affecting comparability related to the damaged turbine at the paperboard mill in Workington, operating profit increased by SEK 1 582 million to SEK 4 061 million as a result of higher prices for wood products and the expansion of the wood products business. • Operating profit for the fourth quarter excluding the item affecting comparability was SEK 1 185 million, compared with SEK 1 129 million in the third quarter. The sale of a British forest property had a positive impact on profit of just over SEK 200 million, while lower wood product prices had a negative impact on profit. • Profit after tax in 2021 amounted to SEK 3 004 million (1 979), which corresponds to earnings per share of SEK 18.5 (12.2). • Prices for forest properties continued to increase in 2021, which meant that the recognised value of forest assets during the annual revaluation increased 9 per cent from SEK 43 202 million at the beginning of the year to SEK 47 080 million.

Headquartered in Nova Scotia, Port Hawkesbury Paper (PHP) is the leading producer of supercalendered papers in North America, manufacturing SCA+ and SCA++ products for use in catalogs, magazines and retail inserts, as well as specialty papers. The company’s paper production capacity includes three thermomechanical (TMP) pulp lines that supply high-quality fiber to the papermaking process. PHP ships its products to customers throughout North America and around the world. “Port Hawkesbury Paper is pleased to support Two Sides North America because we share similar objectives when it comes to the long-term sustainability of our company, our industry and the resources that supply us,” says Port Hawkesbury Co-Manager Bevan Lock. “Our aim is to provide long-term ecological, social and cultural sustainability while managing and maintaining a sustainable wood supply and economic viability for our company, local wood suppliers and sawmills.”

*Record net sales of $284.8 million, up 25 percent from the prior year, reflecting selling price actions to recover input costs and higher volume in both segments. Excluding the effects of the April 2021 Itasa acquisition and a facility closure, net sales were 12 percent higher. *Record net sales in Technical Products of $185.6 million were 28 percent higher than the prior year period. Excluding the effects of Itasa and the facility closure, net sales were 6 percent higher. *Net sales in Fine Paper and Packaging of $99.2 million, up 21 percent from the prior year, with strong organic growth in all categories. *As expected, operating income remained pressured by unprecedented increases in input and distribution costs and labor shortages. EBIT declined from $13.6 million in the first quarter of 2021 to $12.2 million this quarter. Excluding $12.5 million of unusual items in 2021 and $6.5 million in 2022, Adjusted EBITDA this quarter was $30.3 million compared to $35.7 million in the prior year. *In January, a fire occurred at our Brownville, New York manufacturing facility. Operations were fully restored before quarter-end, but the impact of repair costs and margin from lost sales was approximately $2 million. *On March 28, Neenah announced it has entered into a definitive all-stock merger of equals agreement with Schweitzer-Mauduit International, Inc. (NYSE: SWM). The combination is expected to form a global leader in specialty materials with combined annual revenues of approximately $3 billion and generate highly achievable, initial cost synergies of $65 million. The Form S-4 is planned to be filed by SWM shortly, and the transaction is on track to close in the second half of 2022.