Ed Buehler to join Willamette Falls Paper Company executive leadership team

The Company presented information during Investor Day that highlighted: •WestRock has the scale, differentiated strategy and the capabilities to generate attractive long-term returns for investors. •The Company expects to increase adjusted EBITDA margins in its corrugated packaging and consumer packaging segments and generate significant cash flow over the next several years, and to deploy its capital to high-return internal projects and acquisitions, and return increasing capital to stockholders. •WestRock has the opportunity to expand its margins and deploy its capital to grow adjusted EBITDA from $2.3 billion in fiscal year 2017, to more than $4 billion in fiscal year 2022. WestRock reiterated its fiscal 2018 guidance for revenue of at least $16.3 billion, adjusted segment EBITDA of more than $2.8 billion and adjusted operating cash flow of at least $2.3 billion. Click Read More below for additional information.

• Interfor generated $205.0 million of cash flow from operations before changes in working capital, or $3.07 per share, and an additional $24.9 million of cash from reduced working capital. • Capital spending was $36.0 million, including $21.7 million on high-return discretionary projects primarily in the U.S. South. US$96.1 million has been spent on the Company’s Phase II strategic capital plan through December 31, 2020. • Net debt ended the quarter at $(75.4) million, or (7.5)% of invested capital, resulting in available liquidity of $787.5 million.

*Third quarter 2023 net earnings from continuing operations was $2.7 million or $0.01 per share (diluted), compared to net loss of $9.7 million or a loss of $0.05 per share (diluted) in the second quarter of 2023 on the same basis.*Average lumber prices for Q3 2023 were higher than Q2 2023, with an average selling price of $642/mfbm compared to $596/mfbm in Q2 2023. There was strong pricing momentum toward the latter half of the second quarter due to supply related concerns, which benefited results at the beginning of the third quarter. However, volumes in the third quarter were lower than Q2 2023 due to reduced demand given macroeconomic uncertainties. *The valuation provision for lumber and log inventory was decreased to $1.9 million from $8.7 million at the end of Q4 2022, generating a $6.8 million credit to cost of sales in the three quarters ended September 30, 2023.