Uncoated Groundwood Market Update

The story across Uncoated Groundwood grades is mixed, but the recent bias is
downward, especially in super-calendered grades (grades used for newspaper inserts). The healthiest markets are high-bright grades which compete with uncoated free sheet and were being helped by the rebound in the white paper
prices. Overall shipments are up 4.5% YTD. Stora's Port Hawkesbury mill is running at full capacity; the additional SC volume will ripple into LWC markets.