BillerudKorsnäs — M&A Activity 2022

Mar 29, 2022

Press release

22:05 CET, 29 March 2022 Solna

All conditions for BillerudKorsnäs' acquisition of Verso have been fulfilled

All regulatory approvals required for BillerudKorsnäs' acquisition of Verso, which has been communicated previously, have now been obtained. Therefore, BillerudKorsnäs and Verso agreed today that all conditions for completion of the transaction have been fulfilled. The transaction is expected to be completed on 31 March 2022. Verso will be consolidated into the accounts of BillerudKorsnäs as of that date.

For more information, please contact:

Ivar Vatne, CFO, +46 8 553 335 07 Lena Schattauer, Head of Investor Relations, +46 8 553 335 10

This information was submitted for publication, through the agency of the contact persons set out above, at 22.05 CET on 29 March 2022.

Forward-looking statements

This press release contains forward-looking statements that reflect BillerudKorsnäs' current expectations and views of future events and developments, including statements relating to the expected timing of closing of the proposed transaction. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including BillerudKorsnäs' most recent annual and quarterly reports available at www.billerudkorsnas.com and Verso's most recent annual report on Form 10-K, quarterly report filed on Form 10-Q, and reports filed on Form 8-K, and any other documents that BillerudKorsnäs or Verso has made publicly available or Verso has filed with the SEC, respectively. Any forward-looking statements made in this release are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, BillerudKorsnäs undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

BillerudKorsnäs makes packaging materials and solutions that challenge conventional packaging, in order to create a more sustainable future. We are a world-leading provider of primary fibre-based packaging materials, supplying these to customers in more than 100 countries. The company has seven production sites in Sweden and Finland, and about 4,400 employees in over 13 countries. BillerudKorsnäs has sales of approximately SEK 24 billion and its shares are listed on Nasdaq Stockholm. www.billerudkorsnas.se.