Rolland Announces Price Increase for U.S. Market

Q3 2020 Highlights *Sales of $1,275 million (compared with $1,285 million in Q2 2020 (-1%) and $1,264 million in Q3 2019 (+1%)) *As reported (including specific items) +Operating income of $73 million (compared with $94 million in Q2 2020 (-22%) and $108 million in Q3 20192 (-32%)) +Operating income before depreciation and amortization (OIBD)1 of $154 million (compared with $169 million in Q2 2020 (-9%) and $181 million in Q3 20192 (-15%)) +Net earnings per share of $0.51 (compared with $0.57 in Q2 2020 and $0.45 in Q3 20192)

Second Quarter 2021 Financial Highlights: *Record revenue of $927 million increased 4 percent sequentially, driven primarily by 5 percent higher TiO2 average selling prices and 5 percent higher zircon average selling prices *Income from operations of $150 million; Net income of $77 million *TiO2 sales volumes increased 1 percent sequentially, driven by continued recovery led by North America and Europe *Zircon sales volumes continue to be very strong, but declined 5 percent sequentially from record first quarter levels as expected. Tronox achieved another record quarter of TiO2 volumes and key financial metrics including revenue, EPS, Adjusted EBITDA, and free cash flow. Second quarter revenue increased 4 percent sequentially, primarily driven by higher TiO2 and zircon average selling prices. TiO2 sales volume grew 1 percent sequentially led by growth in North America and Europe.

The verification that UPM Plywood’s products have not caused deforestation or forest degradation and that the commodities used in UPM Plywood’s products have been produced in accordance with the relevant legislation will be based on a due diligence process. UPM Plywood is a so-called downstream operator manufacturing its products from other products that have already undergone due diligence in accordance with EUDR. Therefore, UPM Plywood’s due diligence process consists of referring to due diligence statements submitted previously in the supply chain and verifying that its suppliers have adequate due diligence systems in place. Prior to placing its products on the market, UPM Plywood will submit a DDS to the EU Information System Traces. The EU information system will produce an associated reference number that UPM Plywood will share with its customers. The chart below describes the basics of EUDR implementation in UPM Plywood. The supplier of wood or other relevant commodities provides the first DDS with geolocation information to Traces and gets associated reference numbers (REF) from the system.