UPM Raflatac has completed employee consultation processes

Rayonier Advanced Materials Inc. announced preliminary second quarter results which were impacted by COVID-19 market-related conditions. The Company expects earnings and Adjusted EBITDA for the quarter to be slightly below prior year, driven by an approximately 12 percent decline in revenues. Compared to the prior year period, results for the second quarter were aided by improvements in Forest Products and Paperboard segments driven by increased prices for lumber and lower raw material costs for paperboard, respectively. These benefits were offset by COVID-related impact on: 1) global demand for High Yield Pulp and Newsprint; 2) sales volumes in High Purity Cellulose due to softer demand in textile, automotive and construction end markets; and 3) logistics delays impacting High Purity Cellulose volumes. Corporate costs increased modestly from prior year, primarily due to an increase in non-cash charges. With a focus on working capital and capital expenditures, liquidity improved $19 million in the quarter to $164 million, including $49 million of cash.

Tronox Holdings plc, the world’s leading integrated manufacturer of titanium dioxide pigment, announced that it has entered into a long-term power purchase agreement with the South African independent power producer, SOLA Group, to provide 200 MW of solar power to Tronox’s mines and smelters in the Republic of South Africa. The Company anticipates the project should be fully implemented by the fourth quarter of 2023. Today’s announcement is only one example of numerous projects and investments being pursued by Tronox to meet its publicly announced goal to align with a global warming scenario below 2° C and achieve net zero GHG emissions by 2050. “Tronox’s renewable energy project with SOLA Group will reduce our global carbon emissions by approximately 13% compared to our 2019 baseline and has the full support of our Board of Directors and senior management,” commented Melissa Zona, Tronox Holdings plc’s Senior Vice President, External Affairs and Chief Sustainability Officer.

Kruger Products Q2 2023 Business and Financial Highlights • Revenue was $466.3 million in Q2 2023 compared to $397.5 million in Q2 2022, an increase of $68.8 million or 17.3%. • Adjusted EBITDA1 was $55.0 million in Q2 2023, compared to $11.8 million in Q2 2022, an increase of 365.8%. • Net income was $14.5 million in Q2 2023 compared to a net loss of $35.5 million in Q2 2022, an increase of $50.0 million.