On March 1, 2021, Domtar Corporation completed the previously announced sale of the Company’s Personal Care business to affiliates of American Industrial Partners, an operationally-oriented middle market private equity firm, for a base purchase price of $920 million in cash, subject to customary adjustments. The description of the Transaction does not purport to be complete and is qualified in its entirety by reference to the Securities Purchase Agreement by and among the Company, the Purchaser and the other parties thereto, dated as of January 7, 2021. Effective upon the completion of the Transaction, Mr. Michael Fagan, President of the Company’s Personal Care business, will depart from the Company and will continue leading the Personal Care business under its new ownership as CEO.