Important Business Announcement from Boise Paper

Expera Coated Products announced today a new brand of liners used in the manufacture of Advanced Composites. AeroBak™ liners are designed with specific properties and performance characteristics to meet the extreme challenges encountered during the manufacture and delivery of prepreg. These properties represent years of development of both the base sheet and the coatings. “Expera Coated Products’ AeroBak™ liners deliver solutions to the market using unique technologies that extend our products beyond traditional release liners,” explained Harry Challender, Vice President of Expera Coated Products. “Through collaboration, our team leverages the depth of experience we have in both paper and coating technologies to provide a distinct product to address individual requirements. Expera Coated Products is committed to this industry as witnessed by our recent investment in capacity designed around the unique needs of the composite market.” Click Read More below for additional information.

Q3 2020 highlights • Sales decreased by 19% to EUR 2,028 million (2,493 million in Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 215 million, 10.6% of sales (342 million, 13.7%), down 37% year-over-year • Operating cash flow was EUR 365 million (500 million) • Closures of UPM Chapelle paper mill and UPM Jyväskylä plywood mill • Announced the closure of UPM Kaipola paper mill, plans for selling UPM Shotton paper mill and streamlining in several businesses and functions. Q1–Q3 2020 highlights • Sales decreased by 18% to EUR 6,392 million (7,791 million in Q1–Q3 2019) due to lower deliveries of graphic papers and lower pulp and paper prices • Comparable EBIT was EUR 697 million, 10.9% of sales (1,061 million, 13.6%), down 34% year-over-year • Operating cash flow was EUR 659 million (1,256 million) • Net debt was EUR 89 million (-2 million)• UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline

The board of directors and management of Norske Skog are pleased to announce that it has managed to broker a consensual solution between the Unsecured Committee, the Senior Secured Noteholder Committee and major shareholders. The two bondholder committees and the major shareholders have agreed on a split of the equity ownership of Norske Skogindustrier ASA, following the recapitalization transaction that these groups will support. With this development, over 80% of the senior secured noteholders and more than 50% of the unsecured noteholders have now indicated their willingness to support such an adjusted recapitalization proposal. Therefore, the relevant boards in the Norske Skog group have resolved to revise the terms of the ongoing consent solicitation in accordance with the split agreed. The formal consent solicitation deadline is extended until Wednesday 25 October at 17:00 CET to allow adequate time for the group's noteholders to submit their formal consents. Click Read More below for additional information.