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Investor Presentaiton

NEAR-TERM FACTORS Q3 2022 OIBD1 Trend vs Q2 2022 vs Q3 2021 CONSOLIDATED Containerboard Specialty Products Tissue Papers • • Logistics and production costs: expect continued pressure on costs YoY and QoQ in Q3 for all business segments. Containerboard: QoQ performance to reflect stable demand, lower average raw material prices and incremental benefits from price increases, offset by elevated operational costs; Expect slightly higher YoY results with selling price increases offsetting higher input costs. Specialty Products: stable volumes and positive selling price trends support YoY and QoQ results, offsetting cost inflation. • Tissue: Q3 results expected to improve QoQ as realized benefits from implementation of price increases offset higher raw material, logistics and operational costs; Performance YoY forecasted to be slightly lower, with benefits from profitability initiatives and announced price increases continuing to lag impact of higher raw material, production and logistics costs and slightly lower volume. • Corporate Activities: Stable negative OIBD1 contribution quarter-over-quarter. (1) Please click here for supplemental information on non-IFRS measures and other financial measures. 33
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