International Paper Investor Presentation — October 2022

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Third Quarter 2022 Earnings

Earnings Presentation IThird Quarter 2022Forward -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 Li tigation Reform Act of 1995. Words such as “expects,”

“anticipates,” “believes,” “estimates” and similar expressions identify forward -looking statements. These statements are not gua rantees of future performance and reflect management’s current views and are subject to risks

and uncertainties that could cause actual results to differ materially from those expressed or implied in these statements. F actors which could cause actual results to differ include but are not limited to: (i) risks with respect

to climate change and global, regional, and local weather conditions, as well as risks related to our ability to meet targets and goals with respect to climate change and the emission of GHGs and other environmental, social

and governance matters; (ii) the impact of the conflict involving Russia and Ukraine, including in connection with related es calated sanctions imposed by the United States, the European Union, G7 and other countries and

possible actions by the Russian government, and the impact of such developments on domestic and global economic and geopoliti calconditions in general and on us and our Ilim joint venture, which could be materially

and adversely affected by such developments, and our inability to predict the full impact of the Russian invasion of Ukraine, current or future sanctions, geopolitical instability and the possibility of broadened military conflict

on our Ilim joint venture and on our receipt of dividends from our Ilim joint venture; (iii ) the level of our indebtedness a nd changes in interest rates; (iv) the impact of global and domestic economic conditions and industry

conditions, including with respect to commercial activity, inflationary pressures and changes in the cost or availability of rawmaterials, energy sources and transportation sources, supply chain shortages and disruptions,

the availability of labor, particularly in light of current labor market conditions which are exceptionally tight, competitio n we face, cyclicality and changes in consumer preferences, demand and pricing for our products, and

conditions impacting the credit, capital and financial markets; (v) domestic and global geopolitical conditions, changes in c urrency exchange rates, trade protectionist policies, downgrades in our credit ratings, and/or the

credit ratings of banks issuing certain letters of credit, issued by recognized credit rating organizations; (vi) the amount of our future pension funding obligations, and pension and healthcare costs; (vii) unanticipated