Catalyst Announces SC Price Increase

Paper Excellence Canada is pleased to announce that Stew Gibson, the company’s Chief Operating Officer, was recently appointed to the board of directors for Forest Products Association of Canada (FPAC). FPAC is a non-profit association that represents many of Canada’s largest forestry companies. Mr. Gibson was appointed Chief Operating Officer of Paper Excellence Canada in 2022, after previously serving as Vice President – Operations West for the company. “I’m thrilled to be representing Paper Excellence Canada on the board of FPAC and I look forward to working alongside my colleagues from other forestry companies and with the FPAC leadership to advance the interests of our industry in Ottawa and across Canada,” said Gibson.

Second Quarter 2020 Highlights: *Net sales of $268 million, down $334 million compared to second quarter 2019 *Net loss of $(34) million or $(0.99) per diluted share, compared to net loss of $(112) million or $(3.23) per diluted share in second quarter 2019 *Adjusted EBITDA of $(9) million, compared to $44 million in second quarter 2019

Third Quarter Highlights: *Record net sales of $267.9 million were up 40 percent from prior year, with strong performance in each segment. Excluding the effects of the Itasa acquisition, net sales were 22 percent higher than prior year. *Record net sales in Technical Products were led by organic growth in all product categories. Net sales were up 46 percent from prior year, including sales from the Itasa acquisition. Excluding the acquisition, quarterly sales were up 15 percent from prior year. *Net sales in Fine Paper and Packaging were up 32 percent from prior year, driven by record sales in premium packaging and growth in consumer products. *As expected, operating margin was pressured by unprecedented increases in input costs and supply chain disruptions, as well as the effects of flooding from Hurricane Ida at our Pennsylvania facility. *Liquidity remained strong at $190 million as of September 30, 2021. *Itasa was awarded the EcoVadis 2021 Gold Medal for Sustainability, a key designation demonstrating our commitment to sustainable manufacturing practices.