Disclosure Policy

The Nippon Paper Group (hereinafter referred to as“the Group”") proactively and fairly discloses corporate information to all stakeholders surrounding the company in accordance with theNIPPON PAPER GROUP Standards of Business Conductand theNIPPON PAPER GROUP Code of Conduct. Our basic policy is to further enhance the transparency of corporate management.

1. The the Groupwill promptly disclose information based on transparency, fairness, and continuity in accordance with the Companies Act, the Financial Instruments and Exchange Act, and other relevant laws and regulations, as well as the provisions on timely disclosure of corporate information set forth in the Stock Exchange's“Securities Listing Regulations”(hereinafter referred to as“Timely Disclosure Rules”).

2. Even if information does not fall under various laws and regulations or timely disclosure rules, we will disclose information that is useful to stakeholders and society at large, regardless of whether it is advantageous or unfavorable to thethe Group, to the extent possible.

1. Disclosure of information falling under the Timely Disclosure Rule will be disclosed to media organizations such as TD-NET provided by the Tokyo Stock Exchange and related press clubs in accordance with the Rules.

2. Information that does not fall under the Timely Disclosure Rules will be disclosed in appropriate ways, such as news releases and press conferences, depending on its importance and urgency.

3. Information disclosed in the manner described in (1) and (2) above will be promptly posted on this website.

In order to prevent the leakage of financial results information and ensure fairness, the the Grouphas a quiet period from the day after the financial results due date to the date of financial results announcement, and in principle, it refrains from answering questions and comments related to financial results. However, if it becomes clear that the earningsForecastwill deviate significantly during this quiet period, the Company will disclose information in an appropriate manner as appropriate.

1. Disclosed information that is not historical fact is a forecast of future performance, etc., and is based on judgments and assumptions based on information available at the moment.
   Please note that actual results may differ materially from forecasts due to changes in the external environment, such as economic conditions, and various uncertainties.

2. Although we pay close attention to the content of the disclosed information, we do not guarantee the accuracy of the content of the disclosed information and the content of the linked information. Please note that thethe Groupis not responsible for any failures caused by data downloading, etc.

3. The purpose of the disclosure is to deepen thethe Groupand is not intended to solicitInvestments. Investmentsdecisions are made at your own discretion and responsibility.

1. Please note that the Groupmay change the disclosed information without notice.

2. Please note that the the Groupmay review thisDisclosure Policyfrom time to time and change the content without notice.