Sappi to increase LWC and MWC grade prices (Europe)

Financial summary for the quarter: *EBITDA excluding special items US$98 million (Q1 FY20 US$139 million) *Net debt US$2,056 million (Q1 FY20 US$1,916 million) *Loss for the period US$17 million (Q1 FY20 Profit of US$24 million) *EPS excluding special items -1 US cent (Q1 FY20 6 US cents)

At Resolute, we continue to deliver on our strong commitment to climate change mitigation and green energy projects that optimize the use of renewables. Our two Florida tissue mills – Sanford and Hialeah – are taking advantage of the Sunshine State’s favorable climate to participate in ™, a community program offered by Florida Power & Lighting (FPL) that helps local homes and businesses access emissions-free energy. FPL operates dozens of solar energy centers across the state, increasing the use of solar power on the energy grid and helping to offset the use of other non-renewable energy resources. Resolute began participating in SolarTogether in July 2021. We anticipate a total annual reduction in greenhouse gas (GHG) emissions of about 7,000 metric tons (7,716 short tons) of CO2 equivalent (CO2e) in 2022 for our two Florida tissue mills. “This innovative program is helping Resolute achieve our sustainability targets,” said Patrice Minguez, president of Resolute Tissue. “Not only are we purchasing green energy to power our Florida operations, we are proud to support Florida’s clean energy revolution.”

Part of innovating means pushing boundaries and taking risks to bring new and exciting products to the market. Mohawk Renewal launched in April 2020 as a groundbreaking line of papers made with recycled cotton textiles and alternative fibers, including straw. To make Mohawk Renewal possible, we had to forge together an unprecedented supply chain with strategic partners. One of these partners, Columbia Pulp — the only North American supplier responsible for processing wheat straw into pulp to make Mohawk Renewal Straw — announced in February 2022 that they were ceasing operations. We have exhausted every avenue in Columbia Pulp's absence, but without a supplier, we cannot continue to support this industry-disrupting product and will have to discontinue Straw from the Mohawk Renewal portfolio effective immediately. We will sell the remaining inventory of Mohawk Renewal Straw to depletion without replenishment.