Catalyst Announces SC Price Increase

Please be advised that, effective with deliveries July 1, 2018, the US transaction price for the following grades from Catalyst Paper will be increasing for new and existing orders. Grades impacted include: Orion®; Vision®; Escanaba®; Dependoweb®; Capri®; Consoweb®. This increase applies to all basis weights as designated above, finishes and grade extensions.

• Sales increased by 22.6% to EUR 2 592 (2 114) million, due to higher deliveries and prices. Sales excluding Paper increased by 28.4%. • Operational EBIT increased to EUR 364 (178) million, due to higher prices and volumes, especially in Biomaterials, Wood Products, and Packaging Materials. Operational EBIT excluding Paper increased to EUR 413 (216) million. • Operational EBIT margin increased to 14.0% (8.4%). Excluding Paper, the operational EBIT margin was 19.1% (12.9% • The value of forest assets, including leased land and Stora Enso's share of Tornator, increased to EUR 7.4 (5.4) billion. The forest valuation method was changed in Q4/2020 to market based valuation in Sweden. • Strong cash flow from operations amounted to EUR 463 (363) million. Cash flow after investing activities was EUR 339 (239) million. • Net debt decreased by EUR 314 million to EUR 2 975 (3 289) million.

Resolute Forest Products Inc. announced that after a 39-year distinguished career with Resolute, Yves Laflamme will be stepping down, and retiring, as of March 1, 2021. The board of directors has unanimously selected and appointed Remi G. Lalonde as the company's next president and chief executive officer, effective on the same date. Mr. Lalonde, 44, currently serves as senior vice president and chief financial officer. Upon becoming president and CEO, Mr. Lalonde will be appointed to Resolute's board of directors. The announcement today coincides with Resolute's third quarter 2020 results. "The Resolute board of directors enthusiastically supports Remi Lalonde's selection as the company's next president and CEO. He has an outstanding track record of success as well as strength of character and exemplary personal integrity. Remi's superior leadership skills demonstrated on a range of strategic initiatives have consistently impressed the board," stated Bradley P. Martin, chairman of the board of directors. "Remi has very good relationships with our stakeholders, sharp analytical skills, impressive credentials, and a strong business drive. We are confident he will guide the company through its ongoing strategic transformation, delivering improved shareholder value. Remi is the right person at the right time for Resolute."