New Effort Underway to Capture Institutional Knowledge

Against a backdrop of a persistently volatile and challenging macroeconomic environment Sappi delivered EBITDA excluding special items of US$731 million for the year ended September 2023. The widespread disruption caused by ongoing geopolitical instability, weak global economic growth, rising interest rates, and an underperforming Chinese economy negatively impacted markets for our products. The South African business delivered record EBITDA (in ZAR) and North America the second highest ever EBITDA. The group generated significant cash which enabled a further reduction of net debt at year-end to US$1,085 million, the lowest level in 30 years.

We are proud to announce that our production facility has passed its annual food safety inspection and audit performed by the American Institute of Baking (AIB) International. We received a Superior rating (955 out of 1000 points). This certificate of achievement signifies that Lamitech produces clean, safe paperboard products qualified for sanitary use in the food industry. As part of the review process, Lamitech was asked to demonstrate performance in the areas of operational methods and personnel practices, sanitation program and procedures, integrated pest control, overall maintenance and thoroughness of documentation to validate on-going activities. Lamitech’s food safe packaging includes Cake Boards, SBS, Polyguard and Sammyboard fish boards.

Resolute Forest Products Inc. announced that the board of directors appointed, effective today, Duncan K. Davies as an additional member of the company's board, and that Mr. Davies will succeed Bradley P. Martin as the company's non-executive chairman. Mr. Martin of Fairfax Financial Holdings Limited will continue to serve as vice chairman of Resolute's now eight-member board. "Duncan has outstanding credentials and a proven track record of success in the North American forest products industry," said Remi G. Lalonde, president and chief executive officer. "We have identified wood products as a key pillar of our transformation strategy, and bringing Duncan's deep knowledge of the industry on board is an excellent step in that direction to complement our existing board and strategy. I want to also express our gratitude to Brad for his leadership and guidance as chairman for the last nine years. I'm delighted that Brad will continue to contribute to our success in his new role as vice chairman."