International Paper Investor Presentation — October 2020

Document content

Third Quarter 2020 Earnings I October 29, 2020 Earnings Presentation I Third Quarter 2020 2Forward -Looking Statements

Certain statements in this presentation that are not historical in nature may be considered “forward -looking” statements within the meaning of the Private Securities Litigation Reform

Act of 1995. These statements are often identified by the words “will,” “may,” “should,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “appear,” “project,” “estimate,”

“intend” and words of a similar nature. These statements are not guarantees of future performance and reflect management’s cu rrent views with respect to future events, which are

subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in th esestatements. Factors which could cause actual results to

differ include but are not limited to: (i) developments related to the COVID -19 pandemic, including the severity, magnitude and duration of the pandemic, the development,

availability and effectiveness of treatments and vaccines, negative global economic conditions arising from the pandemic, impacts of governments’ responses to the pandemic on

our operations , impacts of the pandemic on commercial activity, our customers and business partners and consumer preferences and demand, supply chain disruptions, and

disruptions in the credit or financial markets; (ii) the level of indebtedness and changes in interest rates; (iii) industry conditions, including but not limited to changes in the cost or

availability of raw materials, energy and transportation costs, competition International Paper faces, cyclicality and change s in consumer preferences, demand and pricing for

International Paper products (including changes resulting from the COVID -19 pandemic); (iv) domestic and global economic conditions and political changes, changes in currency

exchange rates, trade protectionist policies, downgrades in International Paper’s credit ratings, and/or the credit ratings o f banks issuing certain letters of credit, issued by recognized

credit rating organizations; (v) the amount of International Paper’s future pension funding obligations, and pension and heal th care costs; (vi) unanticipated expenditures or other

adverse developments related to the cost of compliance with existing and new environmental, tax, labor and employment, privac y and other U.S. and non -U.S. governmental laws

and regulations (including new legal requirements arising from the COVID -19 pandemic); (vii) any material disruption at any of International Paper’s manufacturing facilities due to

severe weather, natural disasters or other causes (including as the result of the COVID -19 pandemic); (viii) risks inherent in conducting business through joint ventures; (ix) In ternational