Monadnock Paper Mills Announces Addition of Ultrahide PC 100 Blockout Poster to the Envi Portfolio Line of Poster Substrates

Norske Skog's gross operating earnings (EBITDA) in the third quarter 2017 were NOK 143 million, a decrease from NOK 190 million in the second quarter 2017. Gross operating earnings declined despite an increase in sales volume in Europe due to NOK appreciation, and less domestic demand in Australasia resulted in more low-margin export sales. Operating earnings in the third quarter was NOK 73 million compared to negative operating earnings of NOK 52 million in the second quarter of 2017. Net loss in the third quarter was NOK 9 million compared to a net loss of NOK 546 million in the second quarter 2017, mainly due to non-cash currency effects on debt and changes in the valuation of power contracts. Cash flow from operations declined to a negative NOK 162 million in the quarter from a positive NOK 187 million in the second quarter. Net interest-bearing debt increased by NOK 459 million to NOK 7 038 million in the third quarter, reflecting a negative cash flow for the period and unpaid interest costs related to the ongoing recapitalization process. At the end of the third quarter, the group had a negative book equity of NOK 689 million. As part of the ongoing recapitalization process, the board has decided not to pay interest on the group's outstanding debt. The cash balance at the end of the third quarter was NOK 426 million and is sufficient to support the operations until a recapitalization solution takes place. Norske Skog's board and administration continue discussions with the creditors to launch as soon as possible a new and broadly supported offer for converting debt to equity and a new bond. Click Read More below for additional information.

• 2023 operating loss of $532 million; shareholder net loss of $326 million • Q4 2023 operating loss of $191 million; shareholder net loss of $117 million • Solid earnings for the Company’s European and US South operations in 2023, with persistent challenges in British Columbia • Successful execution of significant capital growth program in the US South throughout 2023 • Sustained pressure on global lumber market conditions and pricing through most of the fourth quarter, drove quarter-over-quarter decline in results in all lumber operating regions, most notably in Western Canada • Moderate uplift in global pulp market fundamentals through the fourth quarter driven by a slight increase in demand and purchasing activity in most major regions; 20% improvement in pulp production quarter-overquarter

The company will continue to successfully manage a broad portfolio of attractive niche businesses, supported by a tailored operating model. Effective as of July 1, 2022, the Group will serve five growing and distinctive end markets, also forming the basis for five divisions, allowing for significant organic and inorganic growth. The divisions will be supported by global functions and centers of excellence for scale, synergies, and excellence. The five end-markets and corresponding divisions are: Filtration – Mission-critical air and liquid filtration applications. Food & Consumer Packaging – Solutions for improved food safety, product preservation, and bacteria prevention, helping extend product life and protect human health. Healthcare – Technologies serving essential societal uses in medical, laboratory, and life science settings including diagnostics, bioprocessing, and medical performance barriers. Building Materials – Highly engineered building material applications for every face of the building. Market growth is driven by urbanization and increasing demand for sustainable building materials. Technical Materials – Highly technical applications including protective materials such as insulation, precision coating, tape, and others.