Holmen’s Interim Report January-September 2023

Sustana, a leader in quality recycled fiber products and services, is proud to announce that it has once again earned the Gold Medal from EcoVadis for its commitment to sustainability. For the second consecutive year, Sustana has maintained its position in the top 5% of companies worldwide recognized for sustainable development. This year’s impressive score of 79 now places Sustana in the top 3% of all global companies assessed by EcoVadis. “I am incredibly proud of this accomplishment and the outstanding work of our teams”, said Nathan Jeppson, CEO. “Sustainability practices continue to evolve with new regulations and emerging issues. It’s crucial for Sustana to stay informed and proactive in addressing these changes. Our EcoVadis assessment helps us remain vigilant about best practices and new actions to extend our leadership in sustainable development.” Staying true to its mission of promoting and practicing sustainability, Sustana remains committed to advancing innovative initiatives that improve safety, equity, and diversity in its operations and the broader industry.

SCA is changing the name of its business area Paper to business area Containerboard as of January 1, 2021. Following the discontinuation of its publication paper operations during the first quarter, SCA’s paper production will consist solely of packaging paper, a product with a stable and growing demand. SCA’s business area Containerboard will then comprise of the paper mills of Munksund, near Piteå, and Obbola, near Umeå (both in Sweden). Together, they have a production capacity of just over 850,000 tonnes. SCA is currently investing SEK 7.5bn in the Obbola paper mill, which will increase SCA’s containerboard capacity to 1,140,000 tonnes and further strengthen SCA’s position as a leading supplier of kraftliner on the European market.

GreenFirst Forest Products Inc., is pleased to announce a strategic agreement with Mahogany Investors, LLC regarding the sale of its entitlements to refunds, including accrued interest, related to duties imposed on softwood lumber exported from Canada to the United States during the specified period 2021 and 2022. The agreed sale price for these entitlements is approximately $17,500,000 USD, with the potential for additional proceeds based on the timing and resolution of the ongoing trade dispute. “This agreement underscores our commitment to strengthening our financial foundation while maintaining focus on our core business operations,” said Joel Fournier, GreenFirst’s CEO. “By monetizing these refund rights, we are unlocking value and enhancing our ability to pursue strategic initiatives. The recent rights offering, combined with today’s transaction, will provide enough liquidity to execute Phase I of our strategic expenditures plan to become the largest sawyer in Ontario and get the company closer to becoming a top quartile lumber producer.”