Mondi Announces Price Increase on Uncoated Fine Papers

Mativ First Quarter 2024 Highlights (Continuing Operations) *Sales of $500.2 million increased 10.6% sequentially versus Q4 2023, and decreased 8.9% versus the prior year, reflecting sequential volume recovery *GAAP loss was $(28.0) million, GAAP EPS was $(0.52), which included organizational realignment, integration and purchase accounting expenses

European institutions have come to an initial agreement on the revised Renewable Energy Directive. UPM Biofuels welcomes the agreement as it creates an obligatory advanced biofuel blending mandate in all EU Member States starting at 0.2% in 2022, double counted, and rising to 3.5% in 2030. "The UPM Lappeenranta Biorefinery, the world's first to produce wood-based renewable diesel on a commercial scale, has proven the potential as a significant producer of truly sustainable advanced biofuels. UPM BioVerno, which reduces GHG emissions up to 80% compared with fossil fuels, has found a solid market place. The agreement will further boost interest in the most sustainable biofuels and strengthens the position of advanced low-ILUC fuels, such as UPM BioVerno, that have minimal risk of causing indirect emissions or land use change," says Sari Mannonen, Vice President, UPM Biofuels. Click Read More below for additional information.

Overview • Q1 2024 operating loss of $86 million; shareholder net loss of $65 million, or $0.54 per share • Sustained pressure on global lumber markets and pricing, especially for Southern Yellow Pine (“SYP”) • Solid earnings from Europe; US South results directly impacted by weak SYP lumber pricing; Western Canadian results remained challenging despite uplift in Western Spruce/Pine/Fir lumber pricing • Modest uptick in NBSK pulp unit sales realizations, 7% increase in pulp production quarter-over-quarter • Ongoing constraints accessing economically viable fibre in British Columbia impacting lumber and pulp operating rates in the near-term and through the balance of 2024