December, 2025
© 2025 Sylvamo Corporation. All rights reserved.
© 2025 Sylvamo Corporation. All rights reserved.
Statement relating to non-U.S. GAAP financial 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 referenced. Management believes that these non-U.S. GAAP financial measures, when used in conjunction with information presented in accordance with U.S. GAAP, can facilitate a better understanding of the impact of various factors and trends on Sylvamo's financial condition and results of operations. Management also uses these non-U.S. GAAP financial measures in making financial, operating and planning decisions and in evaluating Sylvamo's performance. The non-U.S. GAAP financial measures in this presentation have limitations as analytical tools and should not be considered in isolation or as a substitute for, or superior to, U.S. GAAP financial measures. In addition, because not all companies use identical calculations, our presentation of non-U.S. GAAP financial measures in this presentation may not be comparable to similarly titled measures disclosed by other companies, including companies in our industry. Reconciliations of the non-U.S. GAAP financial measures that we use to U.S. GAAP financial measures are available on Sylvamo Corporation's website at sylvamo.com.
The following lists the non-U.S. GAAP financial measures mentioned in this presentation.
Adjusted EBITDA and Adjusted EBITDA Margin. Adjusted EBITDA is a non-GAAP financial measure presented as a supplemental measure of our performance; the most directly comparable GAAP measure is net income. Adjusted EBITDA Margin is Adjusted EBITDA as a percentage of Net Sales.
Free Cash Flow, a non-GAAP financial measure that is a liquidity measure of the amount of cash generated that is available, after reinvesting in the business; the most directly comparable GAAP measure is cash provided by operating activities.
© 2025 Sylvamo Corporation. All rights reserved.
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The Sylvamo Sustainability Story
2024 Sustainability Performance Review Sylvamo.com Sustainability Hub
© 2025 Sylvamo Corporation. All rights reserved.
Table of Contents 5
Page
Company Overview 6
Strategy and Value Creation 13
Environmental Stewardship
and Social Responsibility 22
Corporate Governance 29
Executive Compensation 42
© 2025 Sylvamo Corporation. All rights reserved.
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I. Company Overview© 2025 Sylvamo Corporation. All rights reserved.
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Forest StewardshipForest Stewardship 7
The roots of our paper business were planted more than 120 years ago
We formed "Sylvamo" from the Latin words for forest, "silva," and love, "amo"
We translate this unique combination as "love of forests"
Sylvamo speaks to our connection to trees and highlights our role as stewards of sustainable forests
Our entire business depends on the sustainability of forests
© 2025 Sylvamo Corporation. All rights reserved.
We believe in the promise of paper to educate, communicate and entertain.
Paper connects us to one another and is an enduring bond to renewable natural resources.
The Sylvamo Promise 8
Our purpose is to produce the paper you need in the most responsible and sustainable ways. We aim high, innovate and create value for our customers and investors.
The future of paper deserves a company committed to the success of the entire ecosystem. From the forests we love, to the communities where we live, to those who rely on our paper, we know the well-being of each depends on the well-being of all.
We are Sylvamo, built to help the world realize the promise of paper.
© 2025 Sylvamo Corporation. All rights reserved.
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Our Vision & Mission 9
Vision
To be the world's paper company: the employer, supplier and investment of choice
Mission
We transform renewable resources into papers that people depend on for education, communication and entertainment
© 2025 Sylvamo Corporation. All rights reserved.
Our Overarching Value 10
We always do the right things, in the right ways, for the right reasons.© 2025 Sylvamo Corporation. All rights reserved.
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