Resolute Announces Labor Agreement-in-Principle with Seven Canadian Pulp and Paper Mills

Overview • Q1 2024 operating loss of $86 million; shareholder net loss of $65 million, or $0.54 per share • Sustained pressure on global lumber markets and pricing, especially for Southern Yellow Pine (“SYP”) • Solid earnings from Europe; US South results directly impacted by weak SYP lumber pricing; Western Canadian results remained challenging despite uplift in Western Spruce/Pine/Fir lumber pricing • Modest uptick in NBSK pulp unit sales realizations, 7% increase in pulp production quarter-over-quarter • Ongoing constraints accessing economically viable fibre in British Columbia impacting lumber and pulp operating rates in the near-term and through the balance of 2024

The Fedrigoni Group - a leading global player in the manufacturing of specialty papers for luxury packaging and other creative applications, self-adhesive labels and graphic materials, as well as RFID and connected solutions - announced that it has entered into an agreement to acquire a majority stake in POLI-TAPE Group, internationally recognized for the production of high-quality materials for graphic applications, including textile, signage, digital printing and specialties. The POLI-TAPE Group, founded in 1993 and headquartered in Remagen, Germany, employees 370 people located in Germany (incl. two production sites), Italy (incl. two production sites) and Oklahoma, USA (focused on distribution); while its products are distributed in more than 90 countries. Its majority shareholder is the Möhren family along with the Bitburger Group as minority shareholder. The Möhren family will retain a significant share to ensure a smooth transition, during which the POLI-TAPE Management team led by Mark Wehrmann will continue to serve its long-standing customers and partners globally.

Resolute Forest Products Inc. announced the closing of a transaction to acquire the 49 percent equity interest held by The New York Times Company in Donohue Malbaie Inc. for a cash purchase price in the amount of C$20 million. Resolute already owned 51 percent of the shares of Donohue Malbaie. Donohue Malbaie owns and operates a paper machine with an annual production capacity of 224,000 metric tons of newsprint in Clermont (Quebec). The Clermont operation, which employs 153 workers, also houses all the equipment that produces the thermomechanical pulp supplying the machine. With this transaction, Resolute becomes sole owner of the Clermont operation. Click Read More below for additional information.