Sylvamo Announces Share Repurchase Program

We are very happy to be at Hunkeler Innovation Days celebrating the relaunch of Crown Van Gelder International B.V. Not only is CVG now in its best financial position in our 126 year history (debt free with 30 million Euros of equity), we will actually be able to grow our 250 person work force this year. At this show, we are running our new Crown Letsgo High Performance Mail Card (235 micron / 9 pt) stock at 150 m/min on the HP PageWide Advantage 2200. This development testifies our core capability: achieving excellent inkjet print quality, with unrivaled ink consumption reduction, minimal drying requirements and highest output. A 20% better yield than other typical 7 and 9 point papers tops it off. Material savings, energy savings and postal savings. We are happy to announce that EPAC Technologies, Inc is our lead partner in CVG’s relaunch. EPAC’s solutions and technology combined with CVG’s paper knowledge will bring unmatched benefit to our customers. EPAC already provides integrated solutions to publishers, book printers, and now CVG will be able to bring these benefits to many more printers.

Effective with shipments on or after October 11, 2017, pricing will increase approximately 6% on the following grades: Finch Commercial Printing Papers: Finch 94 Rolls; Finch Offset Rolls & Finch Converting Papers: Finch Reply Postcard, 7 pt. and 9 pt. Rolls; Finch ThruPut Wove Rolls; Finch Forms Bond; Finch MOCR Laser; Finch Engineering Bond; Finch CAD Inkjet Bond & Finch Office Papers: Finch Premium Multipurpose; Finch Multipurpose; Finch Copy; All private-label brands; General White Box. All standard upcharges apply and all customer-specific inventory programs will increase with shipments on or after October 11, 2017.

*Sales increased 56.7% to $668.3 million, reflecting the benefit of the merger; 8% organic sales decline with negative volume/mix offsetting price increases *GAAP loss was $4.5 million, GAAP EPS was $(0.08), which all included merger integration and purchase accounting expenses* On August 1, Company announced the proposed sale of Engineered Papers and capital allocation changes *Approximately $575 million of expected net proceeds to be used to reduce net debt by 35%