Holmen’s interim report January-September 2017

Key highlights: *Strong net sales *Ramp-up at Gruvön (KM7) reached EBITDA break-even *Excellent production quarter with increased operational efficiencies *Net sales grew by 2% to SEK 6 520 million (6 364). Excluding currency effects net sales grew by 5% *Adjusted EBITDA* increased by 27% to SEK 1 003 million (791), mainly due to the ramp-up at Gruvön *Operating profit amounted to SEK 528 million (280) *Net profit was SEK 377 million (164)

CO2 Solutions Inc. provided an update on progress at the Corporation's first commercial project with Fibrek General Partnership, a subsidiary of Resolute Forest Products Inc., and Serres Toundra Inc. The project entails the deployment of a 30-tonne per day (tpd) CO2 capture unit and ancillary equipment at a pulp mill in the Saint-Félicien region of Quebec (Canada) and the commercial reuse of the captured CO2 by the adjacent Serres Toundra greenhouse facility (the Project). The Project is following its course as planned. In the spring of 2017, the preliminary engineering was finalized. Since then, the detailed engineering has been largely realized and will be completed in October 2017. The Resolute Forest Product's Saint-Félicien pulp mill completed its planned annual shutdown for maintenance which allowed the CO2 Solutions' team to install the required connections from the Fibrek plant to route the flue gas to the future CO2 capture unit. This is an important milestone towards the completion of the unit which is expected to be commissioned in the fourth quarter of 2018. Click Read More below for additional detail.

The Association of Western Pulp and Paper Workers (AWPPW) has given Ponderay Newsprint the ten (10) days written notice of termination of the Labor Agreement. The Labor Agreement terminated in its entirety on July 24, 2017. The Company has continued to delay in meeting with the Union and has delayed in providing information that is relevant to the collective bargaining process. The Union believes that terminating the current labor agreement is an essential step in the direction of the Union's goal of achieving a new labor agreement. Termination of the Labor Agreement will provide the Union the opportunity to engage in an unfair labor practice strike to encourage the employer to bargain to an agreement in good faith. Click Read More below for more of the story.