Investor Presentaiton

2022 OUTLOOK Good demand dynamics for Packaging products Announced selling price increases in all business segments + easing OCC prices Price of natural gas Availability and cost of logistics Return to normalized demand levels in the tissue as the reopening of the economy accelerates Raw material costs, particularly white recycled fibre grades Benefits from 2022-2024 Strategic Plan, Including key Tissue profitability initiatives. Bear Island start-up December 2022 Inflationary pressure on operational costs including labour, production supplies, energy and logistics. 34

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