UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to ______________________________ Commission File Number 001-40718 ________________ SYLVAMO CORPORATION (Exact Name of Registrant as Specified in its Chart ...

Sylvamo (SLVM) Q1 2025 Earnings Call May 09, 2025 10:00 AM ET Company Participants Hans Bjorkman - VP, IRJean-Michel Ribiéras - Chairman & CEOJohn Sims - SVP & COOGeorge Staphos - Managing DirectorMatt McKellar - Vice President Conference Call Participants Daniel Harriman - Analyst Operator Good morning. Thank you for standing by. Welcome to Silvamo's First Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, you will have ...

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $90 million with a margin of 11% for the first quarter [9] - Adjusted operating earnings were $0.68 per share, with free cash flow expected to be lower than the previous quarter due to timing issues [10][9] - The company returned nearly $40 million in cash to shareholders, including an $18 million dividend and $20 million in share repurchases [8] Business Line Data and Key Metrics Changes - The company faced operational challenges in North America, impacting financial performance by approximately $10 million [11] - Planned maintenance outage costs increased by $9 million due to major outages at specific mills [13] - Volume decreased by 30 million, primarily due to seasonally weak demand in Latin America and operational challenges in North America [12] Market Data and Key Metrics Changes - In Europe, demand decreased by 7% year-over-year, while Latin America saw a 3% increase in demand, mainly driven by Brazil [17] - North American apparent demand was down about 1% year-over-year, influenced by higher imports [17] - The company anticipates real demand to decline by 3% to 4% for the year, with domestic industry supply reduced by 10% due to mill closures [18] Company Strategy and Development Direction - The company plans to leverage its global footprint to improve product mix and customer service in North America [19] - A focus on reducing costs and improving product mix is emphasized, particularly in the European market [23] - The company aims for a significantly better adjusted EBITDA performance in the second half of the year, driven by lower maintenance costs and improved operations [20] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about a global economic slowdown and potential inflation risks on raw materials and transportation [24] - The company is well-positioned to manage through tariff uncertainties, with over 90% of raw materials sourced locally [26] - Future capital allocation strategies will focus on maintaining a strong financial position while investing in business growth [28] Other Important Information - The company has reduced its debt significantly, with a leverage ratio now at 1.1 times, and has no major maturities until 2027 [14] - A seamless CEO and CFO succession plan is in place as the current CEO prepares for retirement [31] Q&A Session Summary Question: Can you provide more detail on the operational issues? - The operational issues were primarily reliability problems at the Ticonderoga and Eastover mills, with an intermittent issue expected to be resolved soon [37] Question: How do you expect to recover orders in the third quarter? - The company anticipates a benefit of less than $10 million from recovering orders that were pushed into the third quarter due to operational challenges [39] Question: What upgrades are being made at the Saia mill? - Investments in new capabilities at the Saia mill will allow entry into specialty roll segments, improving product mix [50] Question: How are you addressing wood cost increases at the Newmala mill? - Strategies include sourcing directly from landowners and importing lower-cost wood, targeting at least a 10% reduction in wood costs [53] Question: What is the outlook for capital spending for the year? - The company maintains its full-year capital spending guidance of $220 million to $240 million, with significant cash flow expected in the second half of the year [62][63]

Exhibit 99.1 Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras NEWS RELEASE Sylvamo Delivers Results In Line With Outlook, Well Positioned With Strong Balance Sheet MEMPHIS, Tenn. – May 9, 2025 – Sylvamo (NYSE: SLVM), the world's paper company, is releasing first quarter 2025 earnings. Financial Highlights – First Quarter vs. Fourth Quarter Commercial and Operational Highlights – First Quarter vs. Fourth Quarter Second Quarter Outlook In the first quarter, we completed a heav ...

First Quarter 2025 Earnings May 9, 2025 © 2025 Sylvamo Corporation. All rights reserved. 1 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 they do not relate strictly to historical or current facts. They typically use words such as "anticipate," "assume," "co ...

Core Insights - Sylvamo Corporation (NYSE: SLVM) shares have increased by 20.36% year-over-year [1] - The company reported Q4 2024 revenue of $970 million, reflecting a 0.62% year-over-year increase [1] - For the full fiscal year 2024, Sylvamo's revenue rose to $3.773 billion, marking a 1.4% year-over-year growth [1]

Workforce and Engagement - The company employs over 6,500 people globally, with 25% in Europe, 49% in Latin America, and 26% in North America [20] - In 2024, the company launched a global engagement survey, establishing a baseline for engagement levels, which are considered fairly high across all regions [30] - The company has a Global Inclusion & Diversity Council that meets quarterly to develop strategies for fostering an inclusive workplace [34] - The company faces challenges in hiring and retention due to competition for skilled labor, which may increase labor costs [35] Environmental Compliance and Sustainability - The company expects to spend approximately $2.5 million in 2024 and an aggregate of $14-$15 million in 2025 and 2026 on capital projects to control environmental releases [45] - The company is subject to the European Union Deforestation Regulation (EUDR), with a compliance deadline of December 30, 2025, which may increase costs and affect the availability of goods [41] - The company is committed to compliance with environmental laws, including the U.S. EPA's maximum achievable control technology (MACT) standards [40] - The company aims to reduce its Scope 1, 2, and 3 GHG emissions by 35% by 2030, using a 2019 baseline [49] - The company plans to source 100% of its fiber from sustainably managed forests and aims to conserve, enhance, or restore 250,000 acres of ecologically significant forestland globally by 2030 [60] - The company generated at least 85% of the energy used in its mills from carbon-neutral biomass residuals, minimizing fossil fuel usage [63] - The company has committed to reducing water usage by 25% compared to a 2019 baseline [62] - The company’s GHG emissions reduction targets were validated by the Science Based Targets Initiative (SBTi) in April 2023 [63] - The company maintains partnerships with major environmental organizations to promote sustainable forest management [61] - The company is actively participating in the Carbon Disclosure Project (CDP) to provide transparency on its environmental practices [64] - The company’s sustainability strategy is overseen by a Chief Sustainability Officer who reports to the Senior Vice President, Chief Administrative and Legal Officer [67] - The company integrates sustainability concepts across all regions and business teams, with a dedicated sustainability team led by the Chief Sustainability Officer (CSO) [68] Financial and Market Risks - The company streamlined its organization in 2023 and 2024 through "Project Horizon," resulting in a leaner structure and reduced costs [36] - Forward-looking statements in the annual report include expectations about future business performance and operating outlook [70] - Actual results may differ from forward-looking statements due to various risks, including economic conditions and competition in the paper industry [71] - The company faces risks related to climate change, including adverse environmental events that could impact operations [72] - Compliance with extensive environmental and regulatory laws in multiple jurisdictions poses additional risks [72] - The company does not assume any obligation to update forward-looking statements after the report [73] - Market risk disclosures are included in the Management's Discussion and Analysis section of the annual report [75] Reporting and Transparency - The company provides free access to its annual reports (Form 10-K), quarterly reports (Form 10-Q), and current reports (Form 8-K) on its website [69] - All reports filed with the SEC are publicly available on the company's website [74] - The company is subject to the Corporate Sustainability Reporting Directive (CSRD), requiring reporting for European operations starting in 2026 and globally by 2029 [51] - The company’s Nymölla mill's eligibility for free allocation of GHG emission allowances under the EU ETS is expected to terminate at the end of 2025 [48]

Financial Data and Key Metrics Changes - In 2024, the company generated a 23% return on invested capital and improved its financial position by repaying $154 million in debt, achieving a net debt-to-adjusted EBITDA of 0.9 [6][32] - Adjusted EBITDA for 2024 was $632 million with a 17% margin, and free cash flow was $248 million, translating to more than $6 per share [8][6] - Adjusted operating earnings were $7.42 per share, a 14% increase compared to 2023 [8] Business Line Data and Key Metrics Changes - In Q4 2024, adjusted EBITDA was $157 million with a margin of 16%, and free cash flow generation was $100 million [12][13] - Price and mix were unfavorable by $18 million, primarily due to lower pulp and paper pricing in Europe and a worse mix in North America [15] - Volume increased by $6 million, driven by seasonality in Latin America [15] Market Data and Key Metrics Changes - In Europe, order books improved, and industry supply was reduced by 7% after the closure of two uncoated freesheet machines [27] - In Latin America, seasonally weaker industry demand was expected in Q1, but demand was anticipated to strengthen sequentially throughout the year [28] - In North America, domestic industry supply was reduced by 10% after machine closures, with slightly lower industry demand observed [29] Company Strategy and Development Direction - The company is committed to being the investment of choice and aims to generate significant shareholder returns by executing its strategy [7] - Project Horizon, a cost reduction program, exceeded its savings goal by $34 million, focusing on manufacturing, supply chain, and overhead costs [12][18] - The company plans to invest $220 million to $240 million in capital spending for 2025, with a focus on high-return projects [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to navigate tough industry conditions and create value for customers and shareholders [9] - The outlook for Q1 2025 includes expected adjusted EBITDA of $85 million to $105 million, with anticipated unfavorable pricing and volume impacts [23] - Management noted that the first quarter typically experiences more challenges in cash flow due to seasonal factors [108] Other Important Information - The company has reduced gross debt by almost 50% since its inception, achieving a healthy financial position that allows for reinvestment [32] - The company plans to invest in its Brazil forestland to enhance self-sufficiency and reduce wood costs [36] Q&A Session Summary Question: Impact of pricing on Q1 guidance - Management indicated that price increases announced for Brazil and North America are being implemented, with realization expected more in Q2 than Q1 [55][56] Question: Weaker volume in North America - Volume was lower than expected, particularly in the commercial printing and envelope market, with a weak November impacting results [56][61] Question: Effects of potential tariffs - Management stated that the impact of potential tariffs is difficult to assess, but they do not foresee significant effects on the business [63][65] Question: Demand for textbooks in Brazil - Improved order book demand for textbooks was noted, with expectations for sequential increases in volume throughout the year [70] Question: Capital spending cadence in 2025 - Capital spending is expected to be more heavily weighted in the first half of the year due to planned maintenance outages [75][76] Question: Cost curve shifts in Europe - The cost curve in Europe has increased due to rising energy and wood costs, with uncoated freesheet pricing stabilizing [81][82] Question: Commercial printing volume rebound - Management does not see systemic issues affecting commercial printing volumes and expects a rebound [91] Question: Woodyard operations impact on costs - The woodyard agreement is expected to avoid capital spending and improve reliability, but the impact on operating costs will be small [95][96]

Fourth Quarter and Full Year 2024 Earnings February 12, 2025 © 2025 Sylvamo Corporation. All rights reserved. 1 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 they do not relate strictly to historical or current facts. They typically use words such as "antic ...

Exhibit 99.1 NEWS RELEASE Financial Highlights – 2024 Full Year vs. 2023 Full Year • Price and mix was unfavorable by $18 million driven by pulp and paper price decreases in Europe (40% of the variance) and mix in North America (30% of the variance) • Volume improved by $6 million due to seasonality in Latin America • Operations and other costs improved by $2 million • Planned maintenance outage expenses increased by $17 million • Input and transportation costs increased by $9 million, primarily driven by h ...