Resolute Forest Products to Increase Prices on White Paper Grades 7/1/18

Total European shipments of graphic papers in June 2020 were down 26.6% vs. June 2019 and are down 18.8% year-to-date. Total European shipments of newsprint in June 2020 were down 19.4% vs. June 2019 and are down 15.4% year-to-date. Total European shipments of sc-magazine in June 2020 were down 21.1% vs. June 2019 and are down 19.3% year-to-date. Total European shipments of coated mechanical reels in June 2020 were down 39.3% vs. June 2019 and are down 25.8% year-to-date. Total European shipments of uncoated mechanical (improved & others) in June 2020 were down 10.3% vs. June 2019 and are down 8.0% year-to-date. Total European shipments of coated woodfree in June 2020 were down 36.6% vs. June 2019 and are down 24.5% year-to-date. Total European shipments of uncoated woodfree in June 2020 were down 24.0% vs. June 2019 and are down 15.2% year-to-date.

Dr.-Ing. Fabian Gaus, 39, has joined the management board of LEIPA Group GmbH on 1 July 2020. He takes over the newly created function of Chief Sales Officer (CSO). His central field of responsibility in this function will be the goal- and future-oriented development of the LEIPA Group's sales activities. With a doctoral degree in mechanical engineering, Dr. Gaus has extensive knowledge in the manufacturing and energy industries, and with asset-heavy businesses in particular. Most recently, Dr. Gaus was Managing Director and CFO of Innogy Renewables US and Georgia Biomass, two subsidiaries of European utility innogy group in the United States. Georgia Biomass operates the largest wood pellet plant in the world.

• Operating profit for 2021 amounted to SEK 3 731 million (2020: 2 479). Excluding the item affecting comparability related to the damaged turbine at the paperboard mill in Workington, operating profit increased by SEK 1 582 million to SEK 4 061 million as a result of higher prices for wood products and the expansion of the wood products business. • Operating profit for the fourth quarter excluding the item affecting comparability was SEK 1 185 million, compared with SEK 1 129 million in the third quarter. The sale of a British forest property had a positive impact on profit of just over SEK 200 million, while lower wood product prices had a negative impact on profit. • Profit after tax in 2021 amounted to SEK 3 004 million (1 979), which corresponds to earnings per share of SEK 18.5 (12.2). • Prices for forest properties continued to increase in 2021, which meant that the recognised value of forest assets during the annual revaluation increased 9 per cent from SEK 43 202 million at the beginning of the year to SEK 47 080 million.