Verso Corporation Announces SC Price Increase

First Quarter 2024 Financial Highlights: *Produced revenue of $774 million, a 13% increase compared to the prior quarter, or a 9% increase compared to the prior year *Generated income from operations of $41 million, and a net loss of $9 million; adjusted net loss was $7 million (non-GAAP) *GAAP diluted loss per share of $0.06

Chief Executive Officer John D. Romano commented “Tronox delivered fourth quarter results in line with expectations despite continued macro weakness. Strong TiO2 commercial performance in Asia Pacific and Latin America mitigated continued lagging demand in Europe, while North America performed as expected. Zircon sales exceeded our previous guidance, driven by strong execution from our commercial group. Additionally, despite significant competitive dynamics across all products, pricing came in as anticipated. On operations, we realized $75 million of production cost improvements compared to Q4 2023, owing to consistent and reliable performance in the fourth quarter. As a result, Tronox delivered an Adjusted EBITDA of $129 million in the quarter, well within the previously guided range of $120-$135 million, and an Adjusted EBITDA margin of 19.1%. “Reflecting on the full year, I am proud of the work our team did to remain focused on the things we can control and influence. In 2024, we heightened our focus on safety and reduced our total recordable injuries by 23%. We enhanced our focus on operations, resulting in significant production cost improvements in the second half of 2024. We continued to execute on our capital allocation strategy, prioritizing investments in the business including replacing our mines reaching end of life. Additionally, we strengthened our balance sheet through opportunistic refinancing transactions and returned $80 million to shareholders in the form of dividends.”

Total European shipments of graphic papers in November 2020 were down 16.5% vs. November 2019 and were down 19.7% year-to-date. Total European shipments of newsprint in November 2020 were down 21.5% vs. November 2019 and were down 19.3% year-to-date. Total European shipments of sc-magazine in November 2020 were down 14.7% vs. November 2019 and were down 18.5% year-to-date. Total European shipments of coated mechanical reels in November 2020 were down 22.1% vs. November 2019 and were down 26.8% year-to-date. Total European shipments of uncoated mechanical (improved & others) in November 2020 were down 5.9% vs. November 2019 and were down 8.3% year-to-date. Total European shipments of coated woodfree in November 2020 were down 22.1% vs. November 2019 and were down 26.0% year-to-date. Total European shipments of uncoated woodfree in November 2020 were down 6.7% vs. November 2019 and were down 13.7% year-to-date.