Clearwater Paper Corporation (NYSE: CLW), a leading supplier of private-branded tissue, announced today it will invest $23 million in a new, state-of-the-art facial tissue converting line at its Shelby, North Carolina consumer products facility. Clearwater Paper's Shelby Mill manufactures high-quality private branded bathroom tissue, paper towels, napkins, and facial tissue. The 400-acre facility employs more than 600 people.

"Clearwater Paper selected Shelby for its newest facial tissue line due to its proximity to our customers, a growing local skilled workforce, and a history of excellent working relationships with the City of Shelby, Cleveland County and the State of North Carolina," said Clearwater Paper's senior vice president of consumer products, Michael Urlick. "Our investment in a new facial line will enable us to meet growing customer demand, further optimize our network and continue to deliver outstanding quality and service to our customers."

ABOUT CLEARWATER PAPER

Clearwater Paper is a premier supplier of private brand tissue to major retailers, including grocery, club, mass merchants, and discount stores. In addition, the company produces paperboard used by quality-conscious printers and packaging converters, and offers services that include custom sheeting, slitting, and cutting. Clearwater Paper's employees build shareholder value by developing strong relationships through quality and service. For more information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the impact of new equipment on operations at the company’s Shelby facility, customer demand and overall network; customer demand; and investments by the company in its facilities and employees. These forward-looking statements are based on current expectations that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include those risks and uncertainties described in the company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other risks and uncertainties described from time to time in the company’s other public filings with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this press release and the company does not undertake to update any forward-looking statements based on new developments or changes in the company’s expectations after the date of this press release.

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