Q1 Highlights *First quarter net earnings (loss) attributable to International Paper of $349 million ($0.88 per diluted share), compared with $153 million ($0.39 per diluted share) in the fourth quarter of 2020 and $(141) million ($(0.36) per diluted share) in the first quarter of 2020. First quarter 2020 net earnings included an after-tax charge of $337 million ($0.85 per diluted share) for the impairment of the net assets and write-off of foreign currency translation adjustment following the announcement of the sale of our Brazil Packaging business. *First quarter adjusted operating earnings* (non-GAAP) of $299 million ($0.76 per diluted share) compared with $296 million ($0.75 per diluted share) in the fourth quarter of 2020 and $226 million ($0.57 per diluted share) in the first quarter of 2020. First quarter 2021 adjusted operating earnings* include a pre-tax earnings impact of $(80) million ($(0.15) per diluted share) related to the winter storm in the U.S. *First quarter cash provided by operations of $512 million compared with $649 million in the same period of 2020 *Returned $331 million to shareholders through dividends of $202 million and share repurchases of $129 million *Reduced debt by $108 million *Monetized approximately $400 million of investment in Graphic Packaging bringing our ownership to 7.4%

Over the past few years, recycled paper made from 100% secondary fibers has turned the Koehler Paper Group into the premium provider of creative board. A firm favorite of the crafting and office segments, this product has recently established itself in the packaging industry and has even gained traction in the high-end segment. While Koehler Paper Group's plant in Thuringia impresses with its "Blue Angel" eco-label, the brilliant colors of its paper products are the real highlight. The newest addition to the range is called "EcoBlack". Udo Hollbach, managing director of Koehler Greiz GmbH & Co. KG has this to say about the new product: "EcoBlack is an extraordinarily high-quality paper that captivates with a deep, rich black and was specially developed for high-quality packaging. It is the next logical step for our range of vibrantly colored recycled paper. With this product, we are catering to our customers' wish that a product avoids doing harm to human health or the environment, without having to sacrifice its aesthetics. EcoBlack is lightfast, resistant to bleeding, color migration and wear." For the product developers at Koehler, it goes without saying that all its paper is ideally suited to further processing. Since EcoBlack is produced completely carbon-free, it lends itself particularly well to embellishment through foil stamping.

Kimberly-Clark's U.S. Huggies® Brand and select Bright Horizons™ child care centers throughout Boston are teaming up on a new pilot program that aims to offset the environmental impact of used diapers and wipes going to landfill by turning it into electricity, heat or fuel through a process known as Waste-to-Energy. Based on preliminary estimates, over the next year, the pilot program is expected to result in thousands of pounds of trash being diverted from local landfills. "Huggies is passionate about providing innovative solutions to better serve consumers and communities," said Matt Barresi, North American Vice President of the Huggies Brand. "Whether it's having the original Leak Lock® blowout blocker since 1997, a 20% thicker baby wipe* or a solution to help keep diapers and wipes out of landfills, we're proud to partner on this breakthrough program to help create a more sustainable environment."