Sappi Announces Price Increase

“Earnings per share were in line with our expectations for the third quarter, again increasing sequentially,” said Deon Stander, president and CEO. “Volume in both Label Materials and Apparel Solutions improved sequentially, continuing to recover from slow market conditions, largely inventory destocking, while our Intelligent Labels platform continued to accelerate adoption into new categories. Highlights: *3Q23 Net sales of $2.1 billion -Sales change ex. currency (non-GAAP) down 10% -Organic sales change (non-GAAP) down 11% *3Q23 Reported EPS of $1.71

In accordance with its firm environmental commitment in carrying out its manufacturing operations, Lecta has updated the lighting installations at its Zaragoza, Sant Joan les Fonts and Motril mills in Spain. This energy efficiency project carried out in cooperation with Spanish energy and renewables company Acciona entailed substituting all the lighting at plant facilities, replacing conventional lighting with new LED installations. This first phase is part of an overall energy plan that aims to optimize energy management at Lecta's five mills in Spain. Before implementing the projects defined within the plan, most of which are currently being developed, several audits and an exhaustive analysis of the current situation at each mill were carried out.

Neenah, Inc. announced that it had completed the previously announced agreement to acquire Global Release Liners, S.L., the parent company of Industrias de Transformacion de Andoain, S.A. (“ITASA”), from Magnum Capital and other minority shareholders. The Company funded the purchase price of approximately €205 million, inclusive of debt extinguishment and subject to customary closing adjustments, through available cash-on-hand and an upsizing of Neenah’s existing Term Loan B from $200 million to $450 million. Interest rates on the Term Loan B are variable and are currently at 3.5 percent. Neenah will continue to maintain a strong liquidity position, with ample availability under its revolving credit line and a projected debt to EBITDA of approximately three times after closing the transaction.