American Forest & Paper Association Releases December 2020 Packaging Papers Monthly Report

Highlights - First Quarter 2023 *Operating income of $210 million; Operating EBITDA of $443 million, up 3% on a comparable basis *Earnings per share of $0.85; Adjusted earnings per share of $1.30, up 11% on a comparable basis *Fiscal 2023 outlook: Reaffirmed adjusted EPS and free cash flow ranges *Returned $211 million to shareholders in the quarter ($178 million via share repurchases and $33 million in dividends) *Reduced long-term leverage target to 2.5x – 3.5x (net debt to adjusted EBITDA)

As the world leader in label papers, UPM continues to grow in the attractive release liner segments to support its customers mainly in Europe and the Americas. Healthy growth is…

Nestlé recently announced that its well-known brand, Smarties, will be using recyclable paper packaging for all of its products worldwide! This represents a transition of 90% of the Smarties range, as 10% was already packed in recyclable paper packaging. The rollout of the new material, which will be complete in the UK and Ireland by April, makes Smarties the first global confectionery brand to move to paper packaging, removing approximately 250 million plastic packs sold worldwide every year. The innovative new designs includes sharing bags, multipacks and giant hexatubes made from coated paper, paper labels or carton board, all produced from sustainably sourced and recyclable material. Alexander von Maillot, Global Head of Confectionery at Nestlé, said: “Moving Smarties packaging to recyclable paper is one of our key sustainable packaging initiatives in the confectionery category. It is a further step in realising Nestlé’s ambition to make all of our packaging recyclable or reusable by 2025 and to reduce our use of virgin plastics by one-third in the same period.”