Felix Schoeller Group Announces Price Surcharge as of 1 April 2022

Ahlstrom-Munksjö's sterile barrier systems offer excellent bacterial barrier thanks to cellulosic fibers that create a tortuous path for excellent sterility maintenance of surgical instruments up to the point of use. Thanks to their features, our high-performance sterilization wraps play a key role in the prevention of hospital-acquired infections, protecting patients’ health. Dextex wetlaid sterilization wraps have a long history of use in the sterilization industry and are well recognized throughout the globe for their reliable performance. In our continuous effort to facilitate our customers and help their businesses succeed, we have decided to harmonize the wetlaid portfolio of high performance sterilization wraps in the United States under our globally recognized Reliance® brand.

Verso will indefinitely idle paper mills in Duluth, Minnesota, and Wisconsin Rapids, Wisconsin, while exploring viable and sustainable alternatives for both mills, including restarting if market conditions improve, marketing for sale or closing permanently. The decision to reduce production capacity is driven by the accelerated decline in graphic paper demand resulting from the COVID-19 pandemic. The stay-at-home orders have significantly reduced the use of print advertising in various industries, including retail, sports, entertainment and tourism. According to Fastmarkets RISI, North American printing & writing demand fell by 38% year-over-year in April, and operating rates are expected to drop well below 70% during the second quarter. Verso expects to idle the Duluth Mill by the end of June 2020, and the Wisconsin Rapids Mill by the end of July 2020, resulting in the layoff of approximately 1,000 employees. Verso will continue to supply graphic and specialty papers in roll and sheet form, as well as packaging papers and pulp.

Second Quarter of 2022 Highlights *Second quarter 2022 (“Q2 2022”) net earnings were $29.5 million or $0.15 per share (diluted), compared to $34.0 million or $ 0.18 per share in the first quarter of 2022 (“Q1 2022”). This was the Company’s third full quarter operating its acquired forest-products assets. *Lumber pricing remained strong in Q2 2022, with an average selling price of $1,255/mfbm compared to $1,325/mfbm in Q1 2022. Rising interest rates and inflation headwinds, coupled with macro supply tightening and the risk of disruptions to lumber supply underlies our expectation of continued volatility in lumber prices. *The Company made a voluntary repayment of US$8.9 million on its outstanding term debt during the second quarter of 2022. *Asset-backed revolving loan facility of $65.0 million was undrawn at quarter end and has remained undrawn at August 10, 2022. Strong operating cash flow continues to fund working capital needs. Cash and equivalents ended Q2 2022 with a balance of $74.2 million.