Sylvamo Corporation · NYSE:SLVM

Sylvamo — 2024 Bank of America Securities Global Agriculture and Materials Conference

17 slides from Sylvamo's conference presentation, Feb 28, 2024

  1. Slide 1: Investor Update

    1 Investor Update 2024 Bank of America Securities Global Agriculture and Materials Conference February 28, 2024 © 2024 Sylvamo Corporation. All rights reserved.

  2. Slide 2: Cautionary statement concerning forward-looking statements

    Cautionary statement concerning forward-looking statements 2 This presentation contains information that includes or is based upon forward-looking statements. Forward-looking statements forecast or state expectations concerning future events. These statements often can be identified by the fact that

  3. Slide 3: Statement relating to non-U.S. financial GAAP measures

    Statement relating to non-U.S. financial GAAP measures 3 While Sylvamo reports its financial results in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), during the course of this presentation, certain non-U.S. GAAP financial measures are presented. Managem

  4. Slide 4: UFS remains the most resilient graphic paper grade in the world

    UFS remains the most resilient graphic paper grade in the world 4 We believe in long-term UFS demand for education, communication and entertainment World Graphic Paper Demand - 2023 World Graphic Paper Demand Evolution 70,000 CFS 60,000 17% Uncoated Thousand short tons 50,000 Freesheet 2023 40,000 U

  5. Slide 5: Executing our strategy to be the employer, supplier and investment of choice

    Executing our strategy to be the employer, supplier and investment of choice 5 Investing to strengthen our competitive advantages in our core UFS regions Our Three Prong Strategy Commercial Be the supplier of choice by leveraging a deep understanding of Excellence end-use applications and customers’

  6. Slide 6: Reduced gross debt by $570 million, or 38%, since the spinoff

    Reduced gross debt by $570 million, or 38%, since the spinoff 6 Improved our financial position and achieved net debt-to-adjusted EBITDA of 1.2x $123 $371 $76 Debt Reduction $ Million $1,520 $1,397 $1,026 $950 Gross Debt Gross Debt at Spinoff 4Q21 2022 2023 Initial cash balance at Spinoff of $132 mi

  7. Slide 7: Returned $217 million in Cash to Shareowners since the spinoff

    Returned $217 million in Cash to Shareowners since the spinoff 7 Exhausted first $150 million share repurchase program authorization; ~$150 million remaining on September 2023 authorization $127 $90 $57 Dividends $10 $ Million $80 $70 Share Repurchases 2022 20231 ¹In 3Q23 we deposited $60 million in

  8. Slide 8: Invested $548 million to strengthen our low-cost assets since the spinoff

    Invested $548 million to strengthen our low-cost assets since the spinoff 8 $381 million in Capital Spending, including high-return projects to create long-term value; Nymolla mill on track to deliver $20 million annual run-rate synergies target by end of 2024 $167 Nymolla Acquisition $ Million $210

  9. Slide 9: Allocated ~$1.4 billion in cash since the spinoff

    Allocated ~$1.4 billion in cash since the spinoff 9 $640 $610 Nymolla Acquisition Capex $ Million Cash Returns to Shareowners $145 Escrow Debt Repayment 4Q21 2022 20231 ¹In 3Q23 we deposited $60 million in escrow to remove credit agreement cash return limits related to the Brazilian tax dispute © 20

  10. Slide 10: Our Brazilian forestlands serve as a repository of shareowner value

    Our Brazilian forestlands serve as a repository of shareowner value 10 • Source of significant global competitive advantage • Given the increasing demand for land and wood in Brazil, our forestlands are an enduring repository of shareowner value In December 2023 a third party appraised our forestlan

  11. Slide 11: Appendix

    11 Appendix © 2024 Sylvamo Corporation. All rights reserved.

  12. Slide 12: Contacts

    Contacts 12 Hans Bjorkman Vice President, Investor Relations Investor Relations +1-901-519-8030 hans.bjorkman@sylvamo.com Adam Ghassemi Senior Manager, Corporate Communications Media +1-901-519-8115 adam.ghassemi@sylvamo.com © 2024 Sylvamo Corporation. All rights reserved.

  13. Slide 13: Creating significant shareowner value since becoming an independent company

    Creating significant shareowner value since becoming an independent company 13 • Reduced gross debt by $570 million (38%) to $950 million Improving our • Achieved net debt-to-adjusted EBITDA of 1.2x Financial Position • Reduced risk with Russian business divestiture • Earned $1.45 billion in Adjuste

  14. Slide 14: Free Cash Flow Reconciliation – Since Spinoff

    Free Cash Flow Reconciliation – Since Spinoff 14 Since $ Million 4Q21 2022 2023 Spinoff Cash from Continuing Operations $131 $418 $504 $1,053 Cash Invested in Capital Projects ($22) ($149) ($210) ($381) Free Cash Flow $109 $269 $294 $672 Free cash flow is a non-GAAP measure and the most directly com

  15. Slide 15: Adjusted EBITDA Reconciliation – Since Spinoff

    Adjusted EBITDA Reconciliation – Since Spinoff 15 Since $ Million 4Q21 2022 2023 Spinoff Net Income from Continuing Operations $29 $336 $253 $618 Depreciation, Amortization, Cost of Timber Harvested 31 125 143 299 Interest (Income) Expense, Net 18 69 34 121 Income Tax Provision 28 131 116 275 Adjust

  16. Slide 16: Executing on our Investment Thesis

    Executing on our Investment Thesis 16 The World’s Paper Company A Simple, Focused Plan We are the world’s paper company, the: We focus on uncoated freesheet and will create long-term • Employer of Choice value through: • Supplier of Choice • Talented teams • Investment of Choice • Iconic brands We b

  17. Slide 17: Building a better future for people, the planet and our company

    17 Building a better future for people, the planet and our company © 2024 Sylvamo Corporation. All rights reserved.

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