*Net loss from continuing operations for the fourth quarter was $28 million, $1 million favorable to the comparable period in 2020 *Amidst strong demand, secured double-digit percent price increases along with volume improvements for cellulose specialties contracts in 2022 *Expect to drive EBITDA growth in 2022 focused on higher pricing, managing costs and improved reliability; expect a stronger back half with extensive maintenance outages heavily weighted to the first half of 2022 *Enhanced sustainability disclosures in updated Environmental, Social and Governance (ESG) Report, including a Greenhouse Gas reduction target of 40% by 2030 from 2020 levels

Linda Coady, President & CEO of the BC Council of Forest Industries (COFI) made the following statement in response to ongoing mill closures and curtailments in BC: “Escalating closures and curtailments of lumber, pulp and paper mills in BC mean the provincial government needs to move faster to stabilize timber supply. Additional transition measures are needed within the next 60 days to address current challenges in approval and permitting systems, and changing land use policies that are leading to dramatic declines in harvest levels. Each time a mill closes in BC, there is a substantial direct impact on employees and their families, with further consequences for local communities as well as across supply chains. The loss of high paying jobs, local tax revenue and relocation to new employment opportunities have lasting effects in rural communities. It also creates uncertainty regarding the future of critical forest sector infrastructure and capacity in BC.

Irving Consumer Products broke ground on the construction of their new $400 million state-of-the-art tissue plant in Macon, Georgia today at an event at the site of their future home. Joined by Mayor Robert Reichert and Charlie Gatlin, Special Projects Advisor for Georgia Department of Economic Development (GDEcD), President Robert K. Irving acknowledged the next step in the construction of the new facility. “We’re excited to begin construction on this new plant. The plant will create over 200 permanent, skilled jobs and allow us to continue to meet our customers’ growing demands,” said Robert K. Irving, President of Irving Consumer Products. “It will also provide growth in our home province. The pulp will be from Irving Woodlands, manufactured at our New Brunswick pulp mill.” The new plant will produce ultra-premium quality household paper products including soft bath tissue and high quality paper towel that is both strong and absorbent. Click Read More below for additional detail.