INTERNATIONAL PAPER CO /NEW/

The Company currently operates in two segments: Packaging Solutions North America ("PS NA") and Packaging

Solutions EMEA ("PS EMEA"). These segments are organized by geography and align with the Company's internal

management structure. All segments are differentiated on a common product, common customer basis consistent

with the business segmentation generally used in the forest products industry. See Note 21 - Financial Information

by Business Segment of Item 8. Financial Statements and Supplementary Data for further details regarding the

Company's business segments.

The majority of our business is focused on creating fiber-based packaging that protects and promotes goods,

enables worldwide commerce and helps keep consumers safe. We meet our customers’ most challenging sales,

shipping, storage and display requirements with sustainable solutions. Our U.S. production capacity was

approximately 11 million tons annually as of December 31, 2025.

Containerboard includes linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft.

Approximately 75% of our production is converted into corrugated packaging and other packaging by our 170 North

American corrugated packaging plants. Additionally, we recycle approximately one million tons of OCC and mixed

and white paper through our 15 U.S. recycling plants. Our corrugated packaging plants are supported by regional

design centers, which offer total packaging solutions and supply chain initiatives. In EMEA, our operations include

14 containerboard mills, 148 corrugated packaging plants and 20 recycling plants.