Lecta Ltd Interim Report as at 30 September 2022

Rayonier Advanced Materials Inc. and Tembec Inc. announced that they received clearance from the Competition Bureau of Canada, without condition, of the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec. In addition to clearance by the Competition Bureau, the Transaction already has received antitrust clearance from the Anti-Monopoly Bureau of the Ministry of Commerce of the People’s Republic of China, Germany’s Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission. As such, Rayonier Advanced Materials and Tembec have now received all required antitrust clearances. The Transaction has also been approved by Tembec’s shareholders and by the Québec Superior Court. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of other conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.

In 2019, UPM Raflatac announced that RAFNXT+ was the world’s first label material verified by The Carbon Trust to reduce its carbon footprint and help mitigate climate change. Now, UPM Raflatac takes a step further in providing its customers with more sustainable solutions in labeling and introduces its RAFNXT+, the world’s first CarbonNeutral® label material certified as a CarbonNeutral® product by Natural Capital Partners. "The recent IPCC climate report showed that the time to act is now. There is more than a 50% chance that global warming will exceed 1.5 °C in early 2030s. Consumer brands have set ambitious climate targets, and they are looking for tangible solutions to take positive action in a credible manner. Product packaging plays an important role here, and we can help our clients make a difference in the battle against climate change," says Robert Taylor, Sustainability Director at UPM Raflatac. As a part of its climate approach, UPM Raflatac is continuing reducing its own emissions as well as emissions from raw materials and transportation. The positive climate action of choosing RAFNXT+ instead of a standard labeling material is verified by The Carbon Trust, including the smarter use of raw materials which reduces pressure on forests and increases the capacity to improve mitigation of climate change.

UPM will establish a new labor markets team which will start its activities in the beginning of December. The background to the decision is the announcement of the Finnish Forest Industries Federation to discontinue the collective bargaining in the Finnish labor markets at the end of the ongoing agreement period. UPM aims to strengthen the company’s own capabilities in labor market matters and company specific bargaining. Jyrki Hollmén, LL.M., has been appointed Vice President, Labor Markets, as of 1 December 2020. He will report to Riitta Savonlahti, Executive Vice President, HR and will be a member of UPM HR Management Team. Jyrki’s current position is Director, Labor Markets in Finnish Forest Industries Federation. Mikko Lehtonen, LL.M., is appointed Legal Counsel, Labor Markets, as of 16 November 2020. He will report to Jyrki Hollmén. Mikko is currently working as a Manager, Collective Bargaining in Finnish Forest Industries Federation.