Cascades finalizes the sale of its New York plant

Second Quarter 2021 Highlights (as compared to second quarter 2020): • Revenue increased 40.7% to $376.7 million primarily due to organic growth in certain film, woven, and tape products, including continued strength in products with significant e-commerce end-market exposure such as water-activated tape and dispensing machines. • Gross margin increased to 23.7% from 21.3% primarily due to a favourable product volume/mix and an increase in the spread between selling prices and combined raw material and freight costs. • Net earnings attributable to the Company shareholders decreased $0.1 million to $14.3 million primarily due to (i) an increase in finance costs mainly due to the 2018 Senior Unsecured Notes Redemption Charges(2) and the non-recurrence of a gain in the second quarter of 2020 resulting from a fair value adjustment to the Company's contingent consideration related to the Nortech Acquisition(3) and (ii) an increase in selling, general and administrative expenses mainly due to increases in both variable and share-based compensation. The unfavourable impacts were largely offset by an increase in gross profit. • Free cash flows(1) decreased by $28.8 million to $6.4 million primarily due to the decrease in cash flows from operating activities and an increase in capital expenditures as compared to minimal capital expenditures in 2020 as a precautionary measure given market uncertainty caused by COVID-19.

BillerudKorsnäs, one of the leading global packaging companies, has partnered with Oatly, the world’s original and largest oat drink company, to develop innovative packaging solutions for Oatly’s Singapore produced products. Oatly recently opened its first production facility in Asia to supply the nearby markets as part of the company’s global expansion. Products produced in the factory will be packed in boxes and transported on pallets during demanding climate conditions offering hot and humid weather which generates challenging logistics chains. The conventional packaging solution to manage high humidity is adding additional material for sturdier packaging. But the team at BillerudKorsnäs BoxLab found a different solution to ensure enhanced sustainability performance while maintaining the high quality standards of Oatly’s secondary packaging. This innovative solution is based on the following principles: *Minimizing damage and waste throughout the logistics chain *Focus on resource efficiency – using as little material as possible and minimize water usage *Use packaging material that is recyclable and comes from renewable sources *Transparency throughout the value chain securing renewable energy sources

Finnish food and beverage company Paulig is testing UPM BioVerno naphtha, made from tall oil, as a raw material for its packaging. The first test batch with Paulig Café New York has been successfully packed and released to market. UPM BioVerno is produced from tall oil, a residue of pulp making, in the UPM Lappeenranta Biorefinery. In the new laminate tested over the half of the material used in the Paulig coffee packs is tall oil-based. “We are committed to replacing fossil-based raw materials with renewable ones. Paulig’s initiative to use our wood-based UPM BioVerno as a raw material in the laminates of their coffee packs is a further step towards creating more circular and sustainable packaging,” says Panu Routasalo, Vice President of UPM Biofuels.