Fourth quarter

"Sappi is a leading global provider of powerful everyday materials made from woodfibre-based renewable resources. Together with our partners, we are quickly moving toward a more circular economy."

Our raw material offerings (such as dissolving pulp, wood pulp and biomaterials) and end-use products (packaging and specialities papers, graphic papers, casting and release papers and forestry products) are manufactured from woodfibre sourced from sustainably managed forests and plantations, in production facilities powered, in many cases, with bio-energy from steam and existing waste streams. Many of our operations are energy self-sufficient.

Sappi works to build a thriving world by acting boldly to support the planet, people and prosperity.

 *  For the period ended September 2020.
** As at September 2020.

for the year

EBITDA excluding special items US$378 million(FY2019: US$687 million)

Loss for the period(US$135 million) (FY2019: Profit of US$211 million)

EPSexcluding special items: Loss of 5 US cents (FY2019: 44 US cents)

Net debtUS$1,957 million (FY2019: US$1,501 million)

Packaging and specialitysegment growth and profitability

for the quarter

EBITDA excluding special itemsUS$82 million (Q4 FY2019: US$185 million)

Loss for the periodUS$88 million (Q4 FY2019: Profit of US$50 million)

Cash generation ofUS$88 million (Q4 FY2019: US$173 million)

EPS excluding special items: Loss 4 US cents (Q4 FY2019: 10 US cents)

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on the quarter

The group's performance was severely impacted by the Covid-19 pandemic, related lockdowns and the economic aftereffect. Demand for graphic paper and dissolving pulp ("DP") was particularly hard hit. Sales volumes for these products decreased by 20% and 18% respectively. The market conditions forced us to take more than 1.1 million tons of commercial downtime which had major repercussions for operating efficiency, fixed cost absorption and profitability.

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