Major Announcements

Action taken as part of Company's Turnaround Strategy to Divest Unprofitable Non-Core Assets.

UPM Fibres prepares to temporary layoff personnel of the Kaukas pulp mill, sawmill and wood reception for a fixed term period. The possible temporary layoffs could take place in several periods and would last a maximum of 90 days. The total number of employees covered by the employee consultations is approximately 370.

Mitch Butier has decided to retire as CEO, effective September 1; will remain as Executive Chairman Deon Stander appointed President and Chief Executive Officer.

The negotiations involve a total of 1,100 employees at the Joutseno, Kaskinen, Kemi, Kyro, Tampere, Simpele and Äänekoski mills.

Korkiatupa has worked at Metsä Forest in various finance and control positions since 2008.

Conifex Timber Inc. announced that Andrew McLellan has been promoted to President and Chief Operating Officer.

Boise Cascade's Building Materials Distribution (BMD) division announced it has finalized the purchase of a five-acre site in Birmingham, AL.

Arctic Paper S.A. announces that the group's CFO Göran Eklund will retire at the end of June 2023 and will be replaced, with effect as of May 29, by Katarzyna Wojtkowiak, who is currently Chief Accountant.

Packaging Corporation of America has notified its Wallula mill employees the mill will be idled and won't resume operations until later this year.

In a first-quarter earnings report released Tuesday, Graphic Packaging International said it will close its recycled paperboard mill in Tama in the second quarter of 2023. A filing with Iowa Workforce Development shows the company will lay off 85 workers, effective June 2.

Cascades is also announcing the permanent shutdown of paper machine number 2 at its Niagara Falls, New York mill, which had been temporarily shut down since November 2022.

WestRock Company announced it will permanently cease operating its paper mill in North Charleston, South Carolina, on August 31, 2023.

Sylvamo, the world's paper company, is announcing senior leadership changes effective July 1.

Cascades will work closely with its 300 affected employees to mitigate the impact of this announcement.

The strategic review includes exploring different options and may result in divestments, although no such decisions have yet been taken.

Mercer Peace River (MPR) announces the completion of the Fibre Procurement Project. This milestone was celebrated with a ribbon cutting in front of the newly revitalized woodroom at the MPR site with dignitaries in attendance.

Rajeski's Expanded Role Includes Responsibility for Overseeing all Aspects of the Business.

UPM has received the final operating authorization for its new UPM Paso de los Toros pulp mill from the environmental authorities. The start-up of the mill commences immediately, and first customer deliveries are expected to ship in May.

PotlatchDeltic Corporation announced that Jerry Richards will relocate to accept an opportunity with another company. Mr. Richards has resigned as the Company's Vice President and Chief Financial Officer, effective April 19, 2023 and he will be focused on ensuring a smooth transition through his final day on May 12, 2023. Mr. Richards joined the Company in 2013.

Henrik Ehrnrooth was elected as Chair, and Kim Wahl as Deputy Chair of the Board of Directors of UPM-Kymmene Corporation at the Board of Directors' constitutive meeting that took place today following the Annual General Meeting.

Interfor Corporation provided an update on its ongoing director succession process. The Company has updated its diversity target for its board of directors ("Board") and commits that at least 30% of its Board members will be women by its next annual general meeting of shareholders ("AGM") in 2024.

Streamlines Senior Leadership to Accelerate Business Performance.

Norske Skog Bruck started its containerboard production last week, introducing 210,000 tonnes of competitive testliner and fluting capacity to meet the growing demand for renewable packaging. The production is based 100% on recycled fibre and will use steam from the new waste-to-energy plant, which opened in April 2022.

With the company entering its next growth phase as the first manufacturer solely dedicated to decor paper, Manfred will succeed current CEO Tomas Wulkan, who has led Munksjö since 2018, first as a division of Ahlstrom-Munksjo and most recently as an independent company.

Major milestone in the transformative growth investment in Uruguay.