Holmen Interim Report January-September 2022

Q4/2020 compared with Q4/2019*Net sales decreased by 1.7% to EUR 689.2 million (701.3). At constant currency rates, net sales increased by 3.5% on higher volumes *Comparable EBITDA improved to EUR 89.6 million (70.5), representing 13.0% (10.1) of net sales, supported by lower variable costs and higher volumes *Operating result improved to EUR 43.7 million (16.0), supported by higher comparable EBITDA and lower items affecting comparability (IAC). Q1–Q4/2020 compared with Q1–Q4/2019: *Net sales decreased by 8.0% to EUR 2,683.3 million (2,915.3). At constant currency rates, net sales decreased by 5.3% due to lower selling prices and a less favorable product mix. *Comparable EBITDA increased to EUR 334.2 million (312.9), representing 12.5% (10.7) of net sales, supported by lower costs *Operating result improved to EUR 176.2 million (103.2), supported by a capital gain of EUR 32.0 million from the sale of the fine art paper business and lower items affecting comparability (IAC)

International technology group ANDRITZ has received an order from the Brazilian pulp producer Suzano to deliver state-of-the-art and resource-efficient technologies for all main process islands in the fiber production and chemical recovery plant, for its Cerrado project in the municipality of Ribas do Rio Pardo, state of Mato Grosso do Sul, Brazil. Start-up is scheduled for the second half of 2024. With an annual production capacity of 2.55 million tons, Cerrado will be the world’s largest plant with a single eucalyptus pulp production line. Civil construction, installation, commissioning, and start-up services are also included in the ANDRITZ scope of supply. With this order, ANDRITZ is once again demonstrating its strong global position in the supply of state-of-the-art and environmentally friendly chemical pulp mill technologies on EPCC basis. The proven process technology from ANDRITZ will strongly support Suzano in reaching their financial and sustainability goals.

Effective with shipments May 21, 2018, International Paper will increase prices by 5% to 7% on the following products: Printing Papers o All Williamsburg o All Accent® Opaque o All Springhill®. Office Papers o All Hammermill® o All Hewlett Packard® o All Private Label o Generic White Box o Relay. Postmark® Envelope; DataSpeed® Laser MOCR; By George®. This increase applies to all virgin, recycled and treated products. We are also increasing our standard basis weight price differentials on all Envelope and Laser MOCR products as follows: 20lb over 24lb: $2.00/cwt 22lb over 24lb: $1.00/cwt. Additionally, the freight stop off charge will increase from $300 to $500. All other standard upcharges will continue to apply. Orders acknowledged prior to April 20, 2018 will ship at the pre-increase price.