SLVM on NYSE

Sylvamo Corp

American paper mills company based in Wilmington, incorporated in Delaware2

In its 2026 annual report the company says: “Sylvamo Corporation is a global uncoated papers company with a broad portfolio of top-tier brands and low-cost, large-scale paper mills located in and serving the most attractive geographies, including Europe, Latin America and North America, which are our business segments. We produce uncoated freesheet for paper products such as cutsize and offset paper, as well as market pulp.”5 Its shares trade on NYSE under the symbol SLVM.2

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Last updated Oct 21, 2026.

Overview

Compare with Glatfelter, Mativ Holdings, Inc. or International Paper, or pick any stock.

  • TickerSLVM on NYSE2
  • IndustryPaper Mills2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business address6077 Primacy Parkway, Memphis, Tn 381193
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI5493001AOYU1ZOWOC9712
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O UNITED AGENT GROUP INC., 19803 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 54628442

Sylvamo Corporation (the “Company” or “Sylvamo”, which may also be referred to as “we” or “us”) is a global uncoated papers company with a broad portfolio of top-tier brands and low-cost, large-scale paper mills located in and serving the most attractive geographies, including Europe, Latin America and North America, which are our business segments. We produce uncoated freesheet (“UFS”) for paper products such as cutsize and offset paper, as well as market pulp. With roots going back to 1898, we have a long history of offering premium quality papers to meet the needs of our customers and end-users. Our mills in North America and Latin America predominantly rank in the lowest quartile on global and regional UFS cost curves, and we believe our low-cost operations enable us to serve our customers with the highest quality products at attractive margins. Our industry-leading brands, known for…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

7.5%Operating margin6
3.9%Net margin6
-11.2%Revenue growth, 20256
13.7%Return on equity6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

North America brought in 52% of the revenue Sylvamo Corp broke down this way in fiscal 2025.

  1. North America$1.8B652%down 14% from 2024
  2. Latin America$858.0M626%down 9% from 2024
  3. Europe$739.0M622%down 8% from 2024
Business segments by year
Business segments202320242025
North America$2.0B$2.0B$1.8B
Latin America$949.0M$945.0M$858.0M
Europe$821.0M$799.0M$739.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin8¢$281.0M
  • Other costs84¢$2.8B
  • Interest1¢$49.0M
  • Income tax2¢$67.0M
  • Profit4¢$132.0M

Out of $3.4B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid27¢$73.0M
  • Share buybacks31¢$82.0M
  • Kept or used elsewhere42¢$113.0M

Out of $268.0M of cash from operations.6

Financial statements

Revenue789106$3.4B in 2025−17% since 2019
0$2.0B$4.0B$6.0B2019: $4.0B$4.0B20192020: $2.4B$2.4B2020−41%2021: $2.8B$2.8B2021+19%2022: $3.6B$3.6B2022+28%2023: $3.7B$3.7B2023+3%2024: $3.8B$3.8B2024+1%2025: $3.4B$3.4B2025−11%
Operating income106$251.0M in 2025−55% since 2022
0$200.0M$400.0M$600.0M2022: $553.0M$553.0M20222023: $441.0M$441.0M2023−20%2024: $453.0M$453.0M2024+3%2025: $251.0M$251.0M2025−45%
Net income789106$132.0M in 2025−65% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $377.0M$377.0M20192020: $170.0M$170.0M2020−55%2021: $331.0M$331.0M2021+95%2022: $118.0M$118.0M2022−64%2023: $253.0M$253.0M2023+114%2024: $302.0M$302.0M2024+19%2025: $132.0M$132.0M2025−56%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
NET SALES$3.4B$3.8B$3.7B
Cost of products sold (exclusive of depreciation, amortization and cost of timber harvested shown separately below)$2.6B$2.8B$2.8B
Selling and administrative expenses$281.0M$311.0M$343.0M
Depreciation, amortization and cost of timber harvested$179.0M$159.0M$143.0M
Taxes other than payroll and income taxes$26.0M$26.0M$23.0M
Interest expense (income), net$39.0M$39.0M$34.0M
Goodwill and Intangible Asset Impairment$11.0M$0$0
Income (loss) before income taxes$199.0M$405.0M$369.0M
Income tax provision$67.0M$103.0M$116.0M
NET INCOME$132.0M$302.0M$253.0M
Basic$3.29$7.35$6.02
Diluted$3.24$7.18$5.93

Compare Sylvamo Corp with another company

Corporate structure

Sylvamo Corp sits at the top of its group. 28 entities, 11 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Sylvamo Corp

  • Sylvamo Corp Wilmington, Delaware, United States
    • Comptoir des Bois de Brive SAS Subsidiary · France
    • Global Holdings I, LLC Subsidiary · Delaware, United States
    • Global Holdings II, Inc. Subsidiary · Delaware, United States
    • Instituto Chamex Subsidiary · Brazil
    • Sylvamo Agroflorestal Ltda. Subsidiary · Brazil
    • Sylvamo Celimo SAS Subsidiary · France
    • Sylvamo Comercial Ltda. Subsidiary · Brazil
    • Sylvamo Deutschland GmbH Subsidiary · Germany
    • SYLVAMO DO BRASIL LTDA. Subsidiary · Mogi Guacu, Brazil
      • SYLVAMO EXPORTS LTDA Subsidiary · Mogi Guacu, Brazil
    • Sylvamo Europe SRL Subsidiary · Belgium
    • Sylvamo Exports Ltda. Subsidiary · Brazil
    • Sylvamo Financing Sweden AB Subsidiary · Sweden
    • Sylvamo Foret Services SAS Subsidiary · France
    • Sylvamo France SA Subsidiary · France
    • Sylvamo Intercompany Finance SCSp Luxembourg Subsidiary · Luxembourg
    • Sylvamo Investments France SAS Subsidiary · France
    • Sylvamo Investments Sweden AB Subsidiary · Sweden
    • Sylvamo Luxembourg S.à r.l. Subsidiary · Luxembourg
    • Sylvamo Nordic Sales Company Oy Subsidiary · Finland
    • SYLVAMO NORTH AMERICA, LLC Subsidiary · Memphis, Tennessee, United States
    • Sylvamo Papers Holding S.à r.l. Subsidiary · Luxembourg
    • Sylvamo Polska sp.z.o.o. Subsidiary · Poland
    • Sylvamo Receivables, LLC Subsidiary · Delaware, United States
    • SYLVAMO SWEDEN AB Subsidiary · Nymolla, Sweden
    • Sylvamo UK Limited Subsidiary · United Kingdom
    • and 1 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Sylvamo Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$20.0M6 Dec 31, 2025$20.0M6 Dec 31, 20240%
Operating-lease assets (leased space)$48.0M6 Dec 31, 2025$58.0M6 Dec 31, 2024−17.2%

Investments

ItemLatestA year beforeChange
Marketable securities, current$63.0M6 Dec 31, 2025$104.0M6 Dec 31, 2024−39.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$114.0M6 Dec 31, 2025$111.0M6 Dec 31, 2024+2.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$418.0M6 Dec 31, 2025$361.0M6 Dec 31, 2024+15.8%
Raw materials$69.0M6 Dec 31, 2025$56.0M6 Dec 31, 2024+23.2%
Finished goods$217.0M6 Dec 31, 2025$178.0M6 Dec 31, 2024+21.9%
Supplies$122.0M6 Dec 31, 2025$107.0M6 Dec 31, 2024+14.0%

Properties, in its own words

FORESTLANDS

As of December 31, 2025, the Company owned or managed approximately 250,000 acres of forestlands in Brazil. All owned lands in Brazil are independently third-party certified for sustainable forestry under the Brazilian National Forest Certification Program (“CERFLOR”) and the Forest Stewardship Council (“FSC”). As of October 17, 2025, a third party estimated the fair value of our owned forestlands at 4.9 billion reais (approximately $900 million converted using the December 31, 2025 exchange rate).

The rest of Item 2

MILLS AND PLANTS

Our portfolio of properties spans three continents and includes six vertically-integrated mills and one non-integrated mill with an aggregate annual paper and pulp production capacity of 3.3 million short tons. We have two mills in our North America segment in the United States (Ticonderoga, New York and Eastover, South Carolina), three mills in our Latin America segment in Brazil (Três Lagoas, Mato Grosso do Sul, and Luís Antônio and Mogi Guaçu, São Paulo), and two mills in our Europe segment (Saillat, France and Nymölla, Sweden). Also, our paper manufacturing operations have historically been supported by an offtake agreement with International Paper for paper production at the North American Riverdale, Alabama, mill with annual capacity of 350,000 short tons of uncoated freesheet. In October 2025, we agreed with International Paper that supply under the offtake agreement will wind down after April 30, 2026 and terminate on May 30, 2026. A listing of our production facilities by segment can be found in Appendix I hereto, which is incorporated herein by reference.

CAPITAL INVESTMENTS AND DISPOSITIONS

Capital spending primarily consists of purchases of machinery and equipment and reforestation related to our global mill operations. A discussion about the level of planned investments for 2026 is included in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Item 2 of the 10-K filed Feb 20, 2026.5

Leadership

Who has led Sylvamo Corp, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (25)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Comptoir des Bois de Brive SAS France4
  • Global Holdings I, LLC Delaware, United States4
  • Global Holdings II, Inc. Delaware, United States4
  • Instituto Chamex Brazil4
  • Sylvamo Agroflorestal Ltda. Brazil4
  • Sylvamo Celimo SAS France4
  • Sylvamo Comercial Ltda. Brazil4
  • Sylvamo Deutschland GmbH Germany4
  • Sylvamo Europe SRL Belgium4
  • Sylvamo Exports Ltda. Brazil4
  • Sylvamo Financing Sweden AB Sweden4
  • Sylvamo Foret Services SAS France4
  • Sylvamo France SA France4
  • Sylvamo Intercompany Finance SCSp Luxembourg Luxembourg4
  • Sylvamo Investments France SAS France4
  • Sylvamo Investments Sweden AB Sweden4
  • Sylvamo Luxembourg S.à r.l. Luxembourg4
  • Sylvamo Nordic Sales Company Oy Finland4
  • Sylvamo North America, LLC Delaware, United States4
  • Sylvamo Papers Holding S.à r.l. Luxembourg4
  • Sylvamo Polska sp.z.o.o. Poland4
  • Sylvamo Receivables, LLC Delaware, United States4
  • Sylvamo Sweden AB Sweden4
  • Sylvamo UK Limited Scotland4
All 26 listed subsidiaries
  • Sylvamo Ukraine SE Ukraine4
  • Sylvamo do Brasil Ltda. Brazil4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 7, 20268-K Results of operations42
  2. May 18, 20268-K Shareholder vote43
  3. May 8, 20268-K Results of operations44
  4. Mar 3, 2026New chief executive John Sims V. becomes CEO13
  5. Feb 12, 20268-K Results of operations45
  6. Dec 17, 20258-K Executive or director change; Regulation FD disclosure46
  7. Nov 10, 20258-K Entered a material agreement; Change to shareholders' rights; Bylaws or fiscal year changed47
  8. Nov 7, 20258-K Results of operations48
  9. Nov 6, 20258-K Executive or director change49
  10. Oct 29, 20258-K Entered a material agreement; Ended a material agreement50
  11. Aug 22, 20258-K Executive or director change51
  12. Aug 21, 20258-K Regulation FD disclosure52
  13. Aug 8, 20258-K Results of operations53
  14. Sep 3, 2021New chief executive Jeanmichel Ribieras becomes CEO14
  15. Dec 31, 2016Founded Sylvamo Corp is founded2

Calendar

Coming up

  1. Nov 6, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $1.44 a share, on Nov 7, 2025.54

When it reported results

  1. Aug 7, 2026Reported quarterly or annual results42
  2. May 8, 2026Reported quarterly or annual results44
  3. Feb 12, 2026Reported quarterly or annual results45
  4. Nov 7, 2025Reported quarterly or annual results48
  5. Aug 8, 2025Reported quarterly or annual results53
  6. May 9, 2025Reported quarterly or annual results55
  7. Feb 12, 2025Reported quarterly or annual results56
  8. Nov 12, 2024Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

631 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 500 insider forms, 24 large holders, 42 other. The latest 20:

  1. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  2. Aug 7, 202610-Q EDGAR
  3. Aug 7, 20268-K EDGAR
  4. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  5. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  6. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  7. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  8. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  9. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  10. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  11. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  12. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  13. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  14. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  15. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  16. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 30, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 16, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 15, 2026144 EDGAR

The 631 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

31 open-market trades by officers, directors and large owners since October 2021: 7 buys and 24 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 15, 2026Bruce Lizanne MDirectorSale1,230$41.70$51.3KForm 4
Mar 17, 2026Wilczynski PatrickSVP, Operational ExcellenceSale6,000$42.28$253.7KForm 4
Mar 9, 2026Ferguson Kevin WVP, Controller,Chief Acct.Off.Sale2,500$42.06$105.2KForm 4
Mar 4, 2026Davoli RodrigoSVP & GM, North AmericaSale3,250$46.46$151.0KForm 4
Dec 9, 2025Ferguson Kevin WVP, Controller,Chief Acct.Off.Sale2,000$48.25$96.5KForm 4
Nov 14, 2025Ferguson Kevin WVP, Controller,Chief Acct.Off.Sale1,000$45.77$45.8KForm 4
Nov 12, 2025Ferguson Kevin WVP, Controller,Chief Acct.Off.Sale2,000$48.70$97.4KForm 4
Jun 11, 2025Gottung Lizanne CDirectorSale2,000$52.60$105.2KForm 4
Mar 24, 2025Ribieras JeanMichelChairman and CEOSale20,232$66.13$1.3MForm 4
Mar 17, 2025Ribieras JeanMichelChairman and CEOSale21,250$65.14$1.4MForm 4
Mar 10, 2025Ribieras JeanMichelChairman and CEOSale21,250$65.53$1.4MForm 4
Mar 5, 2025Ribieras JeanMichelChairman and CEOSale22,268$68.69$1.5MForm 4
Mar 18, 2024Ribieras JeanMichelChairman and CEOSale12,225$57.20$699.3KForm 4
Mar 11, 2024Ribieras JeanMichelChairman and CEOSale12,226$62.94$769.5KForm 4
Mar 11, 2024Maes PeggySVP & Chief People OfficerSale1,500$63.20$94.8KForm 4
Mar 4, 2024Taudien OliverSVPSale1,200$62.75$75.3KForm 4
Mar 4, 2024Ribieras JeanMichelChairman and CEOSale12,596$62.17$783.1KForm 4
Mar 4, 2024Ferguson Kevin WVP, Controller,Chief Acct.Off.Sale2,817$62.94$177.3KForm 4
Feb 21, 2024Maes PeggySVP & Chief People OfficerSale1,000$55.10$55.1KForm 4
Mar 13, 2023SIMS JOHN VCEO & PresidentSale12,842$47.81$614.0KForm 4

All 31 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Chief Executive Officer andChairman of the Board through December 31, 2025$1.2M$7.7M67
2025Senior Vice President—Chief FinancialOfficer through April 30, 2025; Senior Vice President—Chief Operating Officer from May 1 to December 31, 2025$679.2K$2.7M67
2025Senior Vice President—Chief Financial Officer beginning May 1, 2025$360.0K$2.1M67
2024Chief Executive Officer andChairman of the Board through December 31, 2025$1.1M$8.4M67
2024Senior Vice President—Chief FinancialOfficer through April 30, 2025; Senior Vice President—Chief Operating Officer from May 1 to December 31, 2025$625.0K$2.9M67
2024Senior Vice President—Chief Administrative and Legal Officer$500.0K$2.1M67
2023Chief Executive Officer andChairman of the Board through December 31, 2025$1.1M$6.8M67
2023Senior Vice President—Chief FinancialOfficer through April 30, 2025; Senior Vice President—Chief Operating Officer from May 1 to December 31, 2025$620.0K$2.6M67
2023Senior Vice President—Chief Administrative and Legal Officer$472.4K$1.5M67

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Atlas FRM LLC6,312,454$238.6M10.2%No change
BlackRock, Inc.5,541,150$209.5M0.0%+60,247
Millennium Management LLC2,517,545$95.2M0.1%+132,114
Nomura Holdings Inc2,150,000$81.3M0.3%No change
American Century Companies Inc1,801,120$68.1M0.0%+260,296
Dimensional Fund Advisors LP1,554,145$58.7M0.0%+191,671
Vanguard Capital Management LLC1,447,478$54.7M0.0%−61,791
State Street Corp1,389,749$52.5M0.0%+69,299
Vanguard Portfolio Management LLC965,700$36.5M0.0%−54,412
Geode Capital Management, LLC905,711$34.2M0.0%+57,457
Royal London Asset Management Ltd891,135$33.7M0.1%−12,099
William Blair Investment Management, LLC609,086$23.0M0.1%+110,755
Royce & Associates LP597,357$22.6M0.2%+121,515
Charles Schwab Investment Management Inc569,645$21.5M0.0%−43,332
Morgan Stanley528,782$20.0M0.0%−17,945
Allianz Asset Management GmbH506,147$19.3M0.0%+69,195
Bank of New York Mellon Corp475,188$18.0M0.0%+6,254
Fourth Sail Capital LP466,904$17.6M2.7%+39,394
Rokos Capital Management LLP448,997$17.0M0.2%+193,326
Balyasny Asset Management L.P.380,881$14.4M0.0%+359,687
Northern Trust Corp379,378$14.3M0.0%+17,324
Goldman Sachs Group Inc360,839$13.6M0.0%+93,829
Jain Global LLC338,529$12.8M0.2%−648,803
Pictet Asset Management Holding SA337,477$12.8M0.0%−958
Canada Pension Plan Investment Board300,000$11.3M0.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

4 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Dec 1, 2021Debbie DingellDemocratic, HouseSale$1,001 - $15,000+67.0%Report
Nov 16, 2021Thomas R. SuozziDemocratic, HouseSale$897+66.3%Report
Oct 19, 2021Thomas R. SuozziDemocratic, HouseSale$1,001 - $15,000+56.7%Report
Oct 1, 2021Debbie DingellDemocratic, HouseExchange$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Sylvamo Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSylvamo Corp1
  • CIK0001856485
  • Employer ID (EIN)86-25963715
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)2621 Paper Mills1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address6077 Primacy Parkway, Memphis, TN 381191
  • Phone901-519-80001
  • Shares outstanding39,760,243 as of Jul 31, 202612
  • Public float$2.0B as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, Memphis, Tennessee PCAOB ID 34; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceApr 16, 20211
  • Filings667 in all: 4 (481), 8-K (47), 3 (31), 144 (18), 10-Q (15), SC 13G/A (8), DEFA14A (7), SC 13G (7)1
    All 34 form types

    10-K (5), DEF 14A (5), ARS (4), SCHEDULE 13G/A (4), 4/A (3), CERT (3), UPLOAD (3), 8-A12B (2), CORRESP (2), DRS/A (2), DRSLTR (2), S-3ASR (2), SC 13D/A (2), SEC STAFF LETTER (2), 10-12B (1), 10-12B/A (1), 3/A (1), 8-A12B/A (1), 8-K/A (1), DRS (1), PRE 14A (1), S-8 (1), SC 13D (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Feb 20, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 2, 2026
    Latest 8-K (8-K) Aug 7, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $1.00 per shareSLVMNew York Stock Exchange
Preferred Stock Purchase RightsSLVMNew York Stock Exchange

From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Sylvamo Corp names in Item 1A of its 10-K filed Feb 20, 2026: 29 risks under these headings, as written.5

  • RISKS RELATING TO OUR BUSINESS
  • Economic, Trade, Political, Civil and Environmental Risks
  • Our business can be adversely affected by global or regional economic, civil, political or trade developments.
  • We are exposed to risks associated with adverse climate and weather conditions and evolving climate-related regulations, obligations and stakeholder expectations.
  • A public health crisis could adversely affect our operations and results.
  • Industry, Competition and Customer Risks
  • Paper and pulp supply and demand are cyclical and fluctuate, which can result in declines in our products’ prices.
  • Demand for the types of products that we sell is in a secular decline.
  • Our products face strong competition as commodities and from industry consolidation.
  • We rely significantly on a few customers and are exposed to risks associated with their financial viability and consolidations.
  • Operational and Supply Chain Risks
  • Increased costs or decreased availability of raw materials and energy could adversely affect our business.
The other 21 risks
  • Disruptions at our facilities or in transportation and logistics could increase our costs and impair our ability to operate and serve customers.
  • Failures or security breaches of our information technology systems could disrupt our operations, harm our business and result in regulatory non-compliance.
  • Labor disputes could disrupt our operations and increase our labor and operating costs.
  • Our business depends on our ability to attract, retain and develop skilled employees and management.
  • Environmental regulations could result in significant compliance costs, operational constraints and liabilities for non-compliance.
  • Compliance with a broad range of complex and changing regulations could increase our costs or limit our operations, and failure to comply could result in liabilities and harm our business.
  • Failure to protect our intellectual property or defend against infringement claims could harm our business.
  • Strategic and Transaction Risks
  • We may not achieve expected benefits from strategic capital investments or transactions.
  • If the transaction separating us from International Paper in 2021 fails to qualify for non-recognition treatment for U.S. tax purposes, it could result in significant tax liabilities.
  • We have ongoing potential liabilities in connection with our 2021 separation from International Paper.
  • Financial Risks
  • Our operations require substantial capital, and significant capital investments could negatively affect our cash flows.
  • We may be required to recognize impairments of goodwill or other intangible assets.
  • Pension plan investment performance and actuarial changes could adversely affect our financial results and cash flows.
  • Our indebtedness could constrain our business and use of cash, and a default under our debt agreements could adversely impact our business.
  • Equity and Capital Market Risks
  • Dividends and share repurchases are subject to board discretion and may be reduced or discontinued.
  • Future issuances of securities could rank senior to our common stock, dilute shareholders or adversely affect our common stock’s value.
  • Sale of a substantial number of shares of our common stock could cause its market price to decline.
  • Actions of activist shareholders could increase our costs, divert management attention and resources, adversely affect our business and cause volatility in our stock price.
  • Governance Risks
  • Anti-takeover provisions in our governing documents and a shareholder rights plan adopted in 2025 may discourage, delay or prevent a change of control of our company.
  • An exclusive forum provision in our Certificate of Incorporation may limit shareholders’ ability to bring claims in some forums.
  • Our certificate of incorporation limits the liability of our directors and officers.

Legal proceedings

The Company may be involved in legal proceedings arising from time to time in the ordinary course of business. The Company is not involved in any legal proceedings, individually or in the aggregate, that we expect to result in a material adverse effect upon our financial condition or results of operations. See Note 10 Income Taxes and Note 11 Commitments and Contingent Liabilities of the Notes to our Consolidated Financial Statements included elsewhere in this Annual Report on Form 10-K, which notes are incorporated into this Item 3, Legal Proceedings, by reference.

Item 103 of Regulation S-K requires disclosure of certain environmental matters when a governmental authority is a party to the proceedings and the proceedings involve potential monetary sanctions, unless we reasonably believe the monetary sanctions will not equal or exceed a threshold of $1 million (which is the threshold we elected to use as permitted by this regulation). The environmental matters set forth in Note 11 Commitments and Contingent Liabilities to the Consolidated Financial Statements included in Item 8 in this Annual Report on 10-K are disclosed in accordance with such requirement and incorporated herein by reference.

The opening of Item 3, Legal Proceedings.5

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