Resolute Forest Products Announces Newsprint Price Increase

Canfor Corporation (TSX:CFP) and Canfor Pulp Products Inc. (TSX:CFX) jointly announce the release of the 2022 Sustainability Report, which outlines performance on topics such as climate change, sustainable forestry and energy management, and social issues such as inclusion and diversity, and Indigenous relations. “Climate change is one of the most pressing issues we are facing today, and sustainable forest management and low carbon forest products can play a key role in addressing our changing climate,” says Don Kayne, President and CEO, Canfor. “Sustainability is at the very core of what we do, and our 2022 Sustainability Report outlines the progress we are making.

First Quarter 2021 Financial Highlights: *Record revenue of $891 million increased 14 percent sequentially, driven primarily by double-digit growth in both TiO2 and zircon volumes and 3 percent higher TiO2 average selling prices *Income from operations of $125 million; Net income of $26 million *GAAP diluted income per share of $0.12; *TiO2 sales volumes increased 15 percent sequentially, at the top end of the guided range, driven by global demand strength led by growth in Europe and Asia Pacific; TiO2 average selling prices increased 3 percent sequentially, with price increases implemented in all regions *Zircon sales volumes increased 30 percent sequentially as a result of stronger than expected market growth, particularly in China, while selling prices remained level *Feedstock and other products sales decreased 29 percent sequentially, primarily due to the conclusion in the fourth quarter of 2020 of the mandated chloride slag sales per the Federal Trade Commission (“FTC”) consent order relating to the Cristal acquisition

Please be advised that Rolland will increase our prices by 5% to 7% USD on the following products, effective with shipments on or after May 25th, 2018. Rolland Enviro® Print;Rolland Enviro® Satin;Rolland Enviro® Book & Schoolbook; Rolland Opaque®; Rolland Kraft®; Rolland Enviro® Digital; Rolland Enviro® Jet; Rolland Hitech®; Rolland Enviro® Copy; ReproPlus®; New Life® Envelope; Rolland Kraft® Envelope; All specialty papers and private label grades; Price increases apply to all rolls, folio and cut size. All standard upcharges will remain unchanged.