Holmen’s Interim Report January-June 2024

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• Q1 2022 reported operating loss of $26 million; net loss of $20 million, or $0.31 per share • Notable uptick in global US-dollar pulp list prices in Q1; ongoing global supply chain challenges resulting in majority of price gains being realized in Q2 and Q3 • Lower furnace rebuild of recovery boiler number one (“RB1”) completed mid-April; focused on optimizing production performance going-forward • Together with Canfor Corporation, announced the implementation of a comprehensive plan to achieve net-zero carbon emissions by 2050 • Available liquidity of $111 million at March 31, 2022

Ahlstrom-Munksjö will release additional capacity at its Turin plant in Italy to meet the growing demand for engine and industrial filtration media. Fulvio Capussotti, Executive Vice President of Business Area Filtration and Performance, states: “This capacity increase aims at improving our current service level but also, more strategically, enables us to offer to our customer an industrial platform on which they can build on to further grow their business. The plan will include investments on selected assets, re organization of planning practices and additional staffing. This capacity release will be concluded at the beginning of 2018 and will significantly increase our ability to answer the current and future needs of our filtration customers”. Click Read More below for additional details.