Canfor Extending Temporary Curtailments in B.C.

Norpac will raise the price of its Norbrite grades by $35.00 per short ton effective with shipments/invoices on or after February 1, 2018. Specific grades affected by this change in pricing include: Norbrite 65; Norbrite 70; Norbrite 75; Norbrite Plus; Norbrite Offset; Norbrite Hybrid; Norbrite 92 Max; Norbrite Book Cream; Norbrite Book Blue White.

UPM Raflatac, a global supplier of innovative and sustainable labeling materials, is strengthening its position and service capabilities in the Americas market with a new state-of-the-art two-meter slitter and increased production automation in its Mills River factory over the next two years. “We are excited about the ability to provide better service to our customers through improved capacity, capabilities and productivity. We are continually advancing our production sites to increase our output in the Americas and exceed quality benchmarks,” stated Tim Kirchen, Senior Vice President, UPM Raflatac, Americas.

Q3 2023 highlights *Sales decreased by 24% to EUR 2,584 million (3,420 million in Q3 2022) *Comparable EBIT decreased by 72% to EUR 220 million, 8.5% of sales (779 million, 22.8%) *Operating cash flow was EUR 641 million (-201 million), supported by cash inflow from working capital and energy hedges *Net debt decreased to EUR 2,363 million (3,133 million) and the net debt to EBITDA ratio was 1.27 (1.39) *Pulp and electricity sales prices significantly lower than last year, impacting UPM Fibres and UPM Energy. Successful margin management in other business areas *Demand for many of UPM's products started to gradually recover *UPM Paso de los Toros pulp mill and the OL3 nuclear power plant unit contributed significantly to UPM's deliveries *UPM Communication Papers to permanently close its Plattling mill in Germany *UPM received platinum in the EcoVadis responsibility assessment with a high industry score *UPM joined the UN Global Compact Forward Faster Initiative