NEW YORK, New York — Mercer International reported fourth quarter 2025 Operating EBITDA of negative $20.1 million compared to positive $99.2 million in the same quarter of 2024 and negative $28.1 million in the third quarter of 2025. In the fourth quarter of 2025, net loss was $308.7 million compared to net income of $16.7 million in the fourth quarter of 2024 and a net loss of $80.8 million in the third quarter of 2025. The net loss in the fourth quarter of 2025 included total non-cash impairments of $238.7 million. This included non-cash impairments of $203.5 million recognized against long-lived assets at our Peace River mill due to the continued down-cycle environment of hardwood pulp markets, $12.2 million against certain obsolete equipment and $23.0 million against pulp inventory due to low prices and high fiber costs. …Mr. Juan Carlos Bueno, CEO: “We continue to prioritize improving liquidity and working capital, committing to rebalancing our asset portfolio and maintaining operating discipline.”