Price Increase Announcement – Select HP Large Format Supplies

Summary: *Revenue expected to be $783 million(1) *Adjusted EBITDA expected to be $200 to $204 million(1)(2) *Termination of the TTI transaction agreement following rejection by the U.K. Competition and Markets Authority (“CMA”) of a remedy proposal and opening of a Phase 2 investigation *$300 million discretionary debt repayment to be made by the end of the quarter from cash on the balance sheet originally intended for the TTI acquisition *Increasing annualized dividend to $0.32 per share from $0.28 per share, equivalent to a 14 percent increase, effective when the normal first quarter 2021 dividend is declared *Well-positioned to continue participation in the recovery and demonstrate the full capabilities of Tronox’s vertically integrated portfolio

Finally, some good news on Appleton Coated. One of the shuttered paper mill’s machines is reportedly starting back up on Monday, and the mill is recalling 50 workers. Representatives for Industrial Assets, the mill’s new owner, declined comment on the reported restart. But some workers and the regional head of the United Steelworkers union say some employees got recall notices on Tuesday. “It’s a temporary thing. We’re hopeful,” said Michael Bolton, the Menasha-based director of United Steelworkers District 2, which covers Wisconsin and Michigan. “We agreed to a 90-day temporary operation," he said. "The new owner said he was going to try and sell this or get it going again. He’s living up to what he said. It’s better than seeing it sit idle.” The 50 recalled workers will join 38 employees who had been previously retained for mill maintenance, for a total of 88. Click Read More below for additional information.

Resolute Forest Products Inc. reported net income of $87 million, or $1.11 per diluted share, for the quarter ended September 30, compared to net income of $80 million, or $0.99 per diluted share, in the same period in 2021. Sales were $974 million in the quarter, an increase of $157 million from the year-ago period. Excluding special items, the company reported net income of $85 million, or $1.08 per diluted share, compared to net income of $67 million, or $0.84 per diluted share, in the third quarter of 2021. The company reported operating income of $124 million in the quarter, compared to $217 million in the second quarter. The $93 million reduction reflects lower realized prices in wood products ($185 million), partially offset by higher prices in the pulp, paper and tissue segments ($48 million), higher shipments in wood products ($40 million) and lower manufacturing costs ($12 million). The company also recorded higher selling, general and administrative expenses ($17 million), reflecting a higher share-based compensation expense and costs incurred in relation with the acquisition by the Paper Excellence Group.