Catalyst Announces SC Price Increase

Notable items in the quarter: • Record Lumber Production and Shipments o Lumber production totaled a record 1.0 billion board feet, representing an increase of 99 million board feet quarter-over-quarter and the fifth consecutive quarter of record production. • Moderating Lumber Prices o Interfor’s average selling price was $1,104 per mfbm, down $306 per mfbm versus Q1’22. • Strong Free Cash Flow Generation o Interfor generated $218.2 million of cash flow from operations before changes in working capital, or $3.98 per share. • Strong results from Eastern Canada Operations o The Eastern Canada Operations contributed $115.7 million of Adjusted EBITDA to Interfor’s second quarter results, which is net of $17.3 million recorded in production costs related to fair value adjustments recognized at the acquisition date.

Commenting on Marco beginning his journey as Sappi Europe’s CEO, Steve Binnie, Chief Executive Officer of Sappi Limited said: “I look forward to seeing Sappi Europe taken forward by Marco’s drive and vision. Marco is an experienced leader who has been integral to the development and execution of Sappi’s strategy and the investments and decisions we have made in Europe to ensure we maintain our graphic papers leadership while growing our packaging and specialities businesses. I am confident that under Marco’s leadership the business will take full advantage of the exciting opportunities for the pulp and paper industry in Europe and across their export markets.” “The appointment is testimony to the success of Sappi’s strong succession planning processes and the importance we place on stability and continuity during any such leadership transition.”

The sharp rise in gas and electricity prices has a direct impact on our manufacturing costs and profitability. Due to this extraordinary situation, an energy cost surcharge is unfortunately unavoidable. We will therefore impose an energy cost surcharge of up to EUR 10/100kg in all our product segments. This will apply to all deliveries from December 1, 2021, and until further notice.