Sylvamo Corporation, through its wholly-owned subsidiary Sylvamo North America, LLC, entered into a letter agreement effective as of October 1, 2025, with International Paper Company that amends and sets forth certain other agreements regarding the Supply and Offtake Agreement (Riverdale) by and between International Paper Company and Sylvamo North America, LLC, dated as of September 30, 2021. International Paper Company will continue to supply Sylvamo under the Supply Agreement through April 30, 2026, and then International Paper Company will wind down supply during the month of May. The Supply Agreement will terminate on May 30, 2026, unless extended as provided in the Letter Agreement.

Pricing under the Supply Agreement increases with volume purchased, at stated volume thresholds, to provide International Paper Company with an incentive to produce greater volume as it commences winding down operations at the Riverdale Mill. Sylvamo North America, LLC's right to acquire sheeting assets located at the Riverdale Mill, which is set forth in the Supply Agreement, is clarified and amended. Sylvamo North America, LLC shall acquire all Sheeting Asset at the Mill for a purchase price equal to $1.00.

Ownership and title to the Sheeting Asset purchased by Sylvamo North America, LLC shall pass to Sylvamo North America, LLC upon removal and payment in full. All costs associated with the removal, relocation or storage of any purchased Sheeting Assets shall be borne by Sylvamo North America, LLC. Sylvamo North America, LLC shall be invoiced for any International Paper Company mill resources, equipment or personnel needed to support equipment removal from the Mill, subject to an initial cap of $75,000, and any costs above such amount International Paper Company and Sylvamo North America, LLC shall confer and reasonably agree upon before charged to Sylvamo North America, LLC.

Sylvamo North America, LLC shall bear the cost of any damage done to International Paper Company facilities (beyond normal wear and tear) in the removal of the Sheeting Assets. Sylvamo North America, LLC shall identify disposition of Sheeting Assets by February 28, 2026 and remove those Sheeting Assets it identifies from the Mill as follows: Sheeters 1/2: Removed no later than May 7, 2026; Sheeters 3/4: Removed no later than August 31, 2026. Equipment not removed by the dates specified above shall be removed and stored or disposed of at International Paper Company?s discretion.

The Agreement, as amended by this Letter Agreement, shall remain in effect through and be terminated as of May 30, 2026 or when the sheeting contemplated herein is completed, whichever is later, unless extended by the parties in writing. International Paper Company shall not cease paper production prior to April 30, 2026, and shall continue sheeting operations on sheeters remaining at the Mill until the paper produced pursuant to the Agreement has been processed.