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12.16.20 | Resolute Forest Products Collective Agreement

Workers` contributions generally vary between 0 and 8% of their salary, but can reach 100% in some places up to the legal limit. Employer contributions vary between 2.5% and 10% of the worker`s salary, depending on the location and collective agreements in force. 74 percent of Thunder Bay employees, all represented by Unifor, voted in favor of the four-year contract, known as the Eastern Pattern Agreement, the union said in a press release. Resolute sponsors, in addition to numerous defined contribution plans for our employees in the United States and Canada, several contributory and non-contributory defined benefit pension plans. The company also offers various group insurance for workers and other post-employment benefit plans (OPEB) for retirees, depending on the circumstances. Some of the above plans are covered by collective agreements. The agreement will establish the “monetary model” for negotiations at other mills in Ontario, Quebec and Atlantic Canada, although some local arrangements may be made depending on the mill. “We are pleased to have reached an agreement in principle with Unifor management, which is focused on the future,” said Richard Garneau, President and CEO. This agreement allows Resolute to continue productivity gains and provide our employees with good working conditions in many regions of Quebec and Ontario.¬†About Resolute Forest Products is a global supplier of leading forest products, with a wide range of products including newsprint, special paper, pulp and wood products.

The company owns or operates nearly 40 pulp mills, as well as wood products plants in the United States, Canada and South Korea, as well as power plants in Canada. Resolute markets its products in nearly 90 countries and has certified 100% of its forests managed according to at least one of the three internationally recognized sustainable forest management standards. Resolute Forest Products shares are traded under the RFP stock symbol, both on the New York Stock Exchange and on the Toronto Stock Exchange. “We are pleased to have agreed before the treaty expires, which is a testament to our collaborative cooperation. Looking ahead, we have improved operational stability by focusing together on improving the efficiency and overall competitive position of these mills,” said Yves Laflamme, President and Chief Executive Officer.