Investor Presentaiton

Recycled Fibre Costs - Index Prices ($ US/s.t.) 300 250 200 150 100 50 0 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Current (Sep-22) 2552 78 OCC (Outlook September 2022): • • • Favourable market, with good generation of material and lower domestic and export demand Solid inventories at our mills Higher pricing YoY, but lower sequentially with favourable pricing trend in Q3 Logistics challenges (trucking) are showing signs of beginning to normalize SOP (Outlook September 2022): • . Higher prices YoY and expect relatively stable QoQ reflecting limited market supply, stronger demand related to normalized AfH tissue levels and pulp pricing Mills adequately supplied Brown grades (OCC) White grades (Basket of products) Recovered Paper Prices White grades - Basket of products (Northeast average)1 Brown grades - OCC No. 11 (Northeast average) Q2 2022 243 Q1 2022 213 Q2 2021 125 Q2/Q2 Q2/Q1 94% 14% 137 140 102 34% (2)% Source: RISI Northeast average. (1) Basket of white recycled paper, including grades such as SOP, Hard White Envelope and Coated Book Stock; Northeast average. Weighted average based on Cascades' consumption of each grade. (2) Current price for White Grades is the RISI index price for SOP and is not a basket of products. 9

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