UPM to suspend purchasing of wood in and from Russia and operations at its Chudovo plywood mill

Today we are all experiencing the serious impact of climate change. Sappi Europe, as a global company, is committed to pursuing a stringent decarbonisation plan to reduce detrimental effects on the environment. As part of its long-term global commitment to climate protection and sustainable production, the company has successfully converted many of its production sites to renewable energy. At its Kirkniemi Mill in Lohja, Finland, Sappi Europe has invested an amount in the double-digit millions which will enable the full conversion of its energy supply to renewable bioenergy. This investment will reduce the mill’s direct fossil greenhouse gas emissions by roughly 90 per cent, equivalent to 230 000 tonnes of carbon dioxide per year. “This is just one of many measures we are taking on our journey towards greater sustainability. We are committed to being part of the solution and are rigorously focusing on our decarbonisation plan,” confirms Marco Eikelenboom, CEO of Sappi Europe. Visitors to the PulPaper event in Helsinki will have an opportunity to find out more about how the company is achieving its goals to become sustainable and future-proof.

Georgia-Pacific today officially opened its new Dixie® tableware manufacturing site in Jackson, Tennessee. Initially announced in September 2022, the approximately $425 million facility is Georgia-Pacific's first new Dixie® greenfield plant build since the Bowling Green, Kentucky, facility opened in 1991. The plant will produce Dixie® and Dixie Ultra® products for retail and away from home customers – including plates, bowls, platters, and deep dishes. The Jackson plant will significantly increase the supply of disposable tableware products in the marketplace. Site clearing started in November 2022, with full construction beginning in 2023. Production officially began at the facility in June 2024.

Fourth-Quarter Highlights: *Net income of $62 million ($1.41 per diluted share) compared with $92 million ($2.09 per pro forma share1) in the third quarter of 2021 *Free cash flow4 (non-GAAP) of $162 million compared with $135 million in the third quarter of 2021. Fourth-Quarter Commercial and Operational Highlights: *Price and mix improved by $41 million versus the prior quarter and volume improved by $14 million, reflecting solid industry fundamentals and continued commercial excellence performance by our teams *Operations improved by $2 million and total planned maintenance outage expenses increased by $24 million versus the prior quarter *Input costs increased by $39 million versus the prior quarter, reflecting higher costs for wood, energy, chemicals, packaging and distribution *Repaid $124 million of debt, achieving a gross debt-to-adjusted EBITDA ratio of 2.4x at year-end