Catalyst Paper USA Price Announcement – Coated Groundwood & SC

Financial summary for the quarter: *EBITDA excluding special items US$98 million (Q1 FY20 US$139 million) *Net debt US$2,056 million (Q1 FY20 US$1,916 million) *Loss for the period US$17 million (Q1 FY20 Profit of US$24 million) *EPS excluding special items -1 US cent (Q1 FY20 6 US cents)

A conveyor feeding wood chips both to the hardwood and softwood digesters at Metsä Board’s Husum pulp mill in Sweden caught fire on Friday, 18 June at about 12.30 CET. The city fire brigade managed to get the fire under control by about 14.30 CET and could hand over the responsibilities for surveillance to the Husum mill local fire brigade at 21.30 CET. The fire did not spread to other buildings and it did not cause personal injuries. The cause of the fire is being investigated. Investigation at the parts and facilities damaged by the fire has been started on Saturday morning. Currently, pulp and paperboard production at the Husum integrated mill is at a standstill. According to preliminary estimates, pulp production would be at a standstill for four weeks. Paperboard production is expected to start in the coming days at a lower than normal capacity. The magnitude of the damage caused by the fire and effects on production are under further evaluation.

We are pleased that practically all stakeholders targeted in the consent solicitation process are supporting for a consensual recapitalization of the current Norske Skog group. We will now spend time to ensure the registration and documentation of formal support for the recapitalization occurs. Equally important, we will do our outmost to obtain the support to the recapitalization from the holders of the NSF and the 2115 Perpetual Notes holders," said Mr. Christen Sveaas, Chairman of Norske Skogindustrier ASA. Regardless of the outcome of the recapitalization process, the business operations at our seven paper mills will continue as normal. Click Read More below for additional information.