Sonoco Implementing Price Increase for Uncoated Recycled Paperboard

HIGHLIGHTS *First quarter net earnings (loss) attributable to International Paper of $360 million ($0.95 per diluted share) compared with $107 million ($0.28 per diluted share) in the fourth quarter of 2021 and $349 million ($0.88 per diluted share) in the first quarter of 2021. First quarter adjusted operating earnings* (non-GAAP) of $288 million ($0.76 per diluted share) compared with $301 million ($0.78 per diluted share) in the fourth quarter of 2021 and $198 million ($0.50 per diluted share) in the first quarter of 2021. *$40 million of earnings achieved from Building a Better IP initiatives *14% year-over-year revenue growth *First quarter cash provided by operations of $588 million *Share repurchases of $406 million *Actively pursuing strategic options, including a sale of equity investment in Ilim Group

Pregis is announcing two new manufacturing facilities in the Dallas area to support growing demand in the Southern region of North America. The recently opened 128,000 square foot Garland, Texas facility produces protective packaging materials, acts as distribution center for a variety of Pregis products and will have an onsite customer demo and training center. The Garland facility has already begun production and is expected to ramp up production later in the year. The Garland facility already has 44 employees, with another 40 to be added later in the year. Pregis’ new 265,000 square foot manufacturing facility in Arlington, Texas will be producing the recently rebranded Pregis EverTec™ mailer which features lightweight, recyclable all-paper cushioned construction. The Arlington facility will begin production in the summer. Pregis is currently looking to fill 80 new manufacturing positions in Arlington. Both facilities have room to expand to meet future demand, and are expected to provide additional employment opportunities in the region.

Norske Skog Bruck announces successful commercial orders of the containerboard grades Testliner 3 and Fluting. This represents the introduction of 210,000 tonnes of competitive containerboard capacity to meet the growing demand for renewable and re-usable packaging. The production is based 100% on recycled fibre and will use steam from the waste-to-energy plant, which opened in April 2022. Norske Skog Bruck is now ramping up production and expects full utilisation of 95% in the second half of 2025. The successful commercial orders of Strato Testliner 3 and Fluting mark a new era for Norske Skog and strengthen the company's asset base and cash flow generation for decades ahead.