Port Hawkesbury Paper Mill Update

Mondi plc announced the agreement to sell its last remaining facility in Russia, Joint Stock Company Mondi Syktyvkar, together with two affiliated entities to Sezar Invest LLC for a total cash consideration of RUB 80 billion. Mondi is pleased to confirm closing has been accelerated and the sale has now completed. Mondi has therefore concluded its exit from Russia. Mondi has received RUB 57 billion into its London bank account and it is in possession of a letter of credit for the final RUB 23 billion, which will be paid in two equal instalments in each of November and December 2023. It is intended that the net proceeds from the sale of all Mondi’s Russian assets will be distributed to Mondi shareholders in a timely manner once the final instalments of the consideration in respect of Mondi Syktyvkar have been received.

For the first quarter ended 31 March 2021 Lecta had revenue of €270.8 million versus €316.6 million in the first quarter ended 31 March 2020, a decrease of €45.8 million or -15%. This decrease was essentially attributable to COVID-19 pandemic: • Lower sales of CWF, Specialties and Purchased Products of €46.9 million or -16%, from €299.3 million in 1Q2020 to €252.4 million in 1Q2021, resulting from lower sales volumes of 35,100 metric tonnes or -12%, with 264,900 metric tonnes in 1Q2021 vs 300,000 metric tonnes in 1Q2020, and a decrease in average net sales price of 45€/t or -4.5%, with 953€/t in 1Q2021 vs 998€/t in 1Q2020; and • Higher sales of energy of €1.1 million or +6.5%, from €17.3 million in 1Q2020 to €18.4 million in 1Q2021, resulting from lower sales volumes of 19,400 MWh or -6%, with 290,300 MWh in 1Q2021 vs 309,700 MWh in 1Q2020, and an increase in average net sales price of 8€/MWh or +14%, with 63€/MWh in 1Q2021 vs 56€/ MWh in 1Q2020. EBITDA decreased by €14.7 million, or -61%, from €24.2 million in 1Q2020 to €9.5 million in 1Q2021. This decrease was essentially due to lower sales of paper in volume. It was also due to lower sales prices, lower margin on unit variable costs, and nearly stable fixed costs.

The board of directors and management of Norske Skog are pleased to announce that it has managed to broker a consensual solution between the Unsecured Committee, the Senior Secured Noteholder Committee and major shareholders. The two bondholder committees and the major shareholders have agreed on a split of the equity ownership of Norske Skogindustrier ASA, following the recapitalization transaction that these groups will support. With this development, over 80% of the senior secured noteholders and more than 50% of the unsecured noteholders have now indicated their willingness to support such an adjusted recapitalization proposal. Therefore, the relevant boards in the Norske Skog group have resolved to revise the terms of the ongoing consent solicitation in accordance with the split agreed. The formal consent solicitation deadline is extended until Wednesday 25 October at 17:00 CET to allow adequate time for the group's noteholders to submit their formal consents. Click Read More below for additional information.