Q2 2020 Highlights *Net Sales were $1,611.0 million versus $1,552.8 million in the prior year period. *Net Income was $52.1 million versus $63.8 million in the prior year period. *Net organic sales increased 1.5% in Q2 and 3% in the first half of 2020 versus the prior year periods. *Continue to operate safely and effectively; investing in multiple protocols focused on the well-being of employees and serving customers globally. *Successfully closed the 70,000 ton White Pigeon, Michigan Coated Recycled Board (CRB) mill and shut down the 120,000 ton West Monroe, Louisiana PM1 containerboard machine. *Repurchased $38.0 million in common shares during the quarter; delivered $64.9 million to stakeholders in share repurchases, dividends and partnership distributions.

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IP's GCF business creates safe, high-quality absorbent pulp for a wide range of applications like feminine care, incontinence and other personal care products that promote health and wellness. In addition, its specialty pulp serves as a sustainable raw material used in textiles, construction materials, paints, coatings and more. The GCF business generated $2.9B in revenue in 2023 and has operations in three countries, with eight mills and two converting facilities. "International Paper is committed to maximizing value for our shareholders, and to that end, we have launched a comprehensive and thorough review of strategic options for our global cellulose fibers business," said International Paper Chairman and CEO Andy Silvernail.