1. COMPANY SNIPPETS.............. 1

2. MAJOR PRODUCTS AND SERVICES..............2

3. SALES DATA.............. 3 Table 1: International Paper APPM Ltd.’s (Operations) Sales by Geographic Region Worldwide (2014-2015) in Percentage for India and Others.............. 3

Table 2: International Paper APPM Ltd.’s (Operations) Revenues by Category Worldwide (2015) in Percentage for Sale of Products and Saplings..............4

4. MARKET OVERVIEW.............. 5 Pulp and Paper.............. 5 Table 3: Paper & Pulp Products Market by Region Worldwide (2014) - Percentage Share Breakdown by Value Sales for East Asia, Eastern Europe, North America, South America, South East Asia Oceania, Western Europe, and Others 5

Table 4: Pulp and Paper Production by Region Worldwide (2015) - Percentage Share Breakdown by Volume for China, Far East, United States, Western Europe and Rest Of World 6 Pulp.............. 7 Table 5: Pulp Consumption by Product Worldwide (2015) - Percentage Share Breakdown by Volume for Bleached Hardwood Kraft Pulp, Bleached Softwood Kraft Pulp and Others 7

Table 6: Pulp Consumption by Region Worldwide (2014) - Percentage Market Share Breakdown by Volume for Asia, Europe, Latin America, North America, and Rest of World 8

Table 7: Pulp Demand by End Use Worldwide (2014) - Percentage Share Breakdown by Value for Fluff (Diapers), Packaging, Paper, and Tissue.............. 9

Table 8: Pulp Demand by Region Worldwide (2014) - Percentage Share Breakdown by Value for Asia, Europe, North America, and Others.............. 10

Table 9: Pulp Production by Country Worldwide (2015) - Percentage Share Breakdown by Volume for Brazil, Canada, China, Finland, Japan, Sweden, United States and Others 11

Table 10: Pulp Production by Region Worldwide (2014) - Percentage Market Share Breakdown by Volume for Asia, Europe, Latin America, North America, and Rest of World 12

Table 11: Pulp Capacity by Region Worldwide (2015) - Percentage Share Breakdown by Volume for Far East, Latin America, North America, Western Europe and Others 13

Table 12: Pulp Production by Segment in Brazil (2015) - Percentage Share Breakdown by Volume for Domestic Sales, Exports and Integrated..............14

Table 13: Pulp Consumption by Type in China (2014) - Percentage Market Share Breakdown for Non-Wood Pulp, Recycled Pulp, and Wood Pulp.............. 15

Table 14: Pulp Production by Type in China (2014) - Percentage Market Share Breakdown for Old Corrugated Containers, Wood and Bamboo, and Others (Includes Non-wood & Recycled).............. 16

Table 15: Pulp Production by Country in Europe (2014) - Percentage Market Share Breakdown by Volume for Finland, Germany, Portugal, Spain, Sweden, and Others 17

Table 16: Pulp Sales by End Use in Europe (2015) - Percentage Share Breakdown by Value for Case Materials, Newsprint,, Tissues, Other Graphics, Other Packaging and Other 18 Bleached Pulp.............. 19 Table 17: Bleached Pulp Demand by Application Worldwide (2014) - Percentage Share Breakdown by Production Volume for Fluff, Packaging, Printing & Writing, Specialty, and Tissue 19

Table 18: Bleached Pulp Demand by Application in China (2014) - Percentage Share Breakdown by Production Volume for Fluff, Packaging, Printing & Writing, Specialty, Tissue, and Others 20

Table 19: Bleached Pulp Demand by Application in North America (2014) - Percentage Share Breakdown by Production Volume for Fluff, Printing & Writing, Specialty, Tissue, and Others.............. 21

Table 20: Bleached Pulp Demand by Application in Western Europe (2014) - Percentage Share Breakdown by Production Volume for Fluff, Packaging, Printing & Writing, Specialty, Tissue, and Others.............. 22 Hardwood Pulp.............. 23 Table 21: Hardwood Pulp Market by Type Worldwide (2015) - Percentage Share Breakdown by Value for Bleached Eucalyptus Kraft Pulp, Bleached Hardwood Kraft Pulp, and Others 23 Bleached Softwood Kraft (NBSK) Pulp 24 Table 22: Northern Bleached Softwood Kraft (NBSK) Pulp Demand by Category Worldwide (2015) - Percentage Share Breakdown by Volume for Speciality and Packaging 24 Paper Grade Wood Pulp..............25 Table 23: Paper Grade Wood Pulp Demand by Region Worldwide (2015) - Percentage Share Breakdown by Volume for Eastern Europe, Far East, North America, Western Europe, and Others 25 Dissolving Pulp.............. 26 Table 24: Specialty Dissolving Pulp Market by End Use Segment Worldwide (2015) - Percentage Share Breakdown by Volume for Acetate, Ethers and High Strength Viscose 26

Table 25: Specialty Dissolving Pulp Market by Segment Worldwide (2014) - Percentage Share Breakdown by Value for Acetate, Casings, Ethers, High Strength, Microcrystalline Cellulose (MCC), Nitrocellulose, and Others 27 Paper.............. 28 Table 26: Paper and Paperboard Consumption by Category Worldwide (2015) - Percentage Share Breakdown by Volume for Containerboard, Newsprint, Paperboard, Printing & Writing, Tissue and Other Paper and Specialties 28

Table 27: Paper Consumption by Category Worldwide (2015) - Percentage Share Breakdown by Volume for Containerboard, Newsprint, Printing & Writing, Tissue, and Others 29

Table 28: Paper Consumption by Product Worldwide (2015) - Percentage Share Breakdown by Volume for Containerboard, Newsprint, Printing & Writing, Tissue and Others 30

Table 29: Paper Consumption by Region Worldwide (2015) - Percentage Share Breakdown by Volume for China, Japan, US, Western Europe and Others..............31

Table 30: Paper Market by Segment Worldwide (2015) - Percentage Share Breakdown by Volume for Coated Woodfree (CWF), Light Weight Coated (LWC), Newsprint, Super Calendered (SC), and Uncoated Woodfree (UWF)..............32

Table 31: Paper Production by Country Worldwide (2015) - Percentage Share Breakdown by Volume for China, Germany, Japan, US and Others..............33

Table 32: Paper Production by Material Type Worldwide (2014) - Percentage Share Breakdown by Volume for Non-Fibrous Materials, Pulp (Chemical & Mechanical), and Recovered Paper 34

Table 33: Paper Consumption by Product in China (2014) - Percentage Share Breakdown by Value For Coated Duplex Board, Coated Printing Paper, Corrugating Medium, Linear Board, NewsPrint, Packaging Paper, Tissue, Uncoated Printing and Writing Paper, and Others..............35 Table 34: Paper Consumption in China (2014) in Thousand Tonnes 36 Table 35: Paper Demand by Type in China (2014) - Percentage Share Breakdown for Packaging Paper, and Non-Packaging Paper 37

Table 36: Paper Production by Product Segment in Europe (2015) - Percentage Share Breakdown by Volume for Case Materials, Newsprint, Tissues, and Others 38

Table 37: Writing Paper Production by Product in Europe (2015) - Percentage Share Breakdown by Value for Coated Mechanical, Coated Woodfree (CWF), Uncoated Mechanical, and Uncoated Woodfree (UWF)..............39 Coated Mechanical Paper..............40 Table 38: Coated Mechanical Paper End Use Market by Category Worldwide (2014) - Percentage Share Breakdown by Volume Sales for Magazines, Commercial Printing, and Others 40 Uncoated Mechanical Paper..............41 Table 39: Uncoated Mechanical Paper End Use Market by Category in Europe (2014) - Percentage Share Breakdown by Volume Sales for Books & Manuals, Catalogues, Direct Mail, Magazines, and Others.............. 41 Uncoated Wood Free (CWF) Paper..............42 Table 40: Uncoated Wood Free (CWF) Paper Market by End Use Worldwide (2015) - Percentage Share Breakdown by Volume for Business, Commercial Printing, and Others 42 Coated Wood Free (CWF) Paper..............43 Table 41: Coated Wood Free (CWF) Paper Market by End Use Worldwide (2015) - Percentage Share Breakdown by Volume for Books & Manuals, Catalogues, Direct Mail, Magazines, Other Commercial Printing, and Others..............43 Uncoated Freesheet (UFS)..............44 Table 42: Uncoated Freesheet (UFS) Production by Region in North America (2015) - Percentage Market Share Breakdown by Volume for Canada and U.S..............44 Paper and Paperboard.............. 45 Table 43: Paper and Board Production by Type in Europe (2014) - Percentage Share Breakdown by Volume for Graphic Paper, Newsprint, Packaging, Sanitary & Household, and Others 45 Table 44: Paper & Board Production in Europe (2014) in Million Tonnes.............. 46 Décor Paper.............. 47 Table 45: Décor Paper Market by End Use Application Worldwide (2015) - Percentage Share Breakdown by Value for Kitchen Cabinets, Laminate Flooring, Living, Dining and Bed Room Furniture, Office Furniture and Shop Fittings, Counters and Worktops.............. 47

Table 46: Décor Paper Market by Product Application Worldwide (2015) - Percentage Share Breakdown by Value for HPL/CPL, LPM/LPL and Paper Foils..............48 Graphic Paper.............. 49 Table 47: Graphic Paper End Use Market in Europe (2014) - Percentage Share Breakdown by Volume Sales for Business, Catalogues & Brochures, Magazines, Newspapers, and Others 49 Kraft Paper.............. 50 Table 48: Kraft Paper Consumption by Category Worldwide (2015) - Percentage Share Breakdown by Volume for Bleached Kraft Paper and Unbleached Kraft Paper 50 Containerboard.............. 51 Table 49: Containerboard Consumption by Category in Europe (2014) - Percentage Market Share Breakdown by Volume for Brown Kraftliner, Brown Testliner, Recycled Fluting, Virgin Fluting, White Kraftliner, and White Testliner 51

5. COMPETETIVE LANDSCAPE.............. 52 Pulp & Paper.............. 52 Table 50: Market Shares of Leading Pulp & Paper Producers Worldwide (2015) - Percentage Share Breakdown by Value for Asia Pacific Resources International Holdings Limited, Celulosa Arauco y Constitución, Fibria Celulose S.A and Others.............. 52

Table 51: Market Shares of Leading Pulp & Paper Manufacturers in Latin America (2015) - Percentage Share Breakdown by Value for Celulosa Arauco y Constitucion, Empresas CMPC SA, Fibria Celulose and Others.............. 53 Pulp.............. 54 Table 52: Market Shares of Leading Pulp Producers (Excluding Integrated Mills) by Value Sales Worldwide (2015) - Percentage Breakdown for Asia Pacific Resources International Holdings Limited, Celulosa Arauco y Constitución S.A., CMPC S.A., Fibria Celulose S.A., Georgia-Pacific LLC, and Others 54

Table 53: Market Shares of Leading Pulp Producer Companies by Value Sales in North America (2014) - Percentage Breakdown for Alberta-Pacific Forest Industries Inc., Canfor Pulp Products, Inc., Domtar Corporation, Georgia-Pacific Wood Products LLC, International Grand Investment Corporation, International Paper Company, Paper Excellence Group, Resolute Forest Products, Inc., West Fraser Mills Ltd., Weyerhaeuser NR Company, and Others..............55 Fluff Pulp.............. 56 Table 54: Market Shares of Leading Fluff Producers by Value Sales Worldwide (2014) - Percentage Breakdown for Domtar Corporation, Georgia-Pacific Wood Products LLC, International Paper Company, Rayonier, Inc., Resolute Forest Products, Inc., Rock-Tenn Company, Stora Enso Paper Company, Weyerhaeuser NR Company and Others 56

Table 55: Market Shares of Leading Fluff Producers Worldwide (2015) - Percentage Share Breakdown by Volume for Domtar Corporation (UFS), Georgia-Pacific Wood Products LLC, International Paper Company, Weyerhaeuser NR Company and Others.............. 57

Table 56: Market Shares of Leading Fluff Pulp Manufacturers Worldwide (2014) - Percentage Breakdown by Value for Domtar Corporation, Georgia-Pacific Corporation, International Paper Company, Rayonier, Inc., Weyerhaeuser Company, and Others 58 Cellulose and Other Dissolving Pulp 59 Table 57: Market Shares of Leading Speciality Cellulose and Other Dissolving Pulp Manufacturers Worldwide (2014) - Percentage Breakdown by Volume for Borregaard, Buckeye Partners, L.P., Neucel Specialty Cellulose, Rayonier, Inc., Sappi, Ltd., Sateri Holdings, Ltd., Tembec, Inc., and Others 59

Table 58: Market Shares of Leading Specialty Cellulose Pulp Producers Worldwide (2014) - Percentage Breakdown by Volume for Borregaard, Buckeye Partners, L.P., CLP Regulation, The, Domsjö Fabriker, Neucel Specialty Cellulose, Rayonier, Inc., Sateri Holdings, Ltd., and Tembec, Inc. 60

Table 59: Market Shares of Leading Speciality Dissolving Pulp Manufacturers Worldwide (2015) - Percentage Breakdown by Volume for Borregaard ASA, Buckeye Partners, L.P., Rayonier, Inc., Sappi Ltd., Sateri Holdings Ltd., Tembec, Inc. and Others.............. 61

Table 60: Market Shares of Leading Specialty Dissolving Pulp Manufacturers Worldwide (2015) - Percentage Breakdown by Value for Buckeye Technologies, Inc., Rayonier, Inc., Tembec, Inc., and Others.............. 62 Hardwood Pulp.............. 63 Table 61: Market Shares of Leading Hardwood Pulp Producers by Value Sales Worldwide (2014) - Percentage Breakdown for Asia Pacific Resources International Holdings Limited, CMPC Celulosa, Energía y Celulosa, Fibria, Stora Enso, Suzano Pulp and Paper, and Others.............. 63 Paper.............. 64 Table 62: Market Shares of Leading Blade Coated Woodfree Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd., ITC, Ltd., JK Files, and Others..............64

Table 63: Market Shares of Leading Uncoated Mechanical Paper Producers in europe (2015) - Percentage Share Breakdown by Volume for Holmen AB, Norwegian Forest Industries, Stora Enso Oyj, UPM-Kymmene Corporation, and Others 65

Table 64: Market Shares of Leading Graphic Paper Producers in Europe (2015) - Percentage Share Breakdown by Volume for Burgo Group, Mondi Plc, Norwegian Forest Industries, Sappi, Ltd., Stora Enso Oyj, UPM-Kymmene Corporation, and Others 66

Table 65: Market Shares of Leading Paper Manufacturers in India (2014) - Percentage Share Breakdown by Value for Andhra Pradesh Paper Mills Ltd., Ballarpur Industries Limited, Century Textile and Industries, Hindustan Paper Corporation Limited, ITC Limited, JK Paper Ltd., Khanna Paper Mills Limited, Rainbow Papers Limited, Tamil Nadu Newsprint and Papers Limited and West Coast Paper Mills Ltd. 67

Table 66: Market Shares of Leading Writing and Printing Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Abhishek Industries, Ltd., Ballarpur Industries, Ltd., Century Paper & Board Mills, Ltd., International Paper (India) Private, Ltd., ITC, Ltd., JK Paper, Khanna Paper Mills, Ltd., Tamil Nadu Newsprint and Papers, Ltd., The, and WestCoast Group.............. 68

Table 67: Market Shares of Leading Copy Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd., and Others 69

Table 68: Market Shares of Leading Cut Size Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd., and Others 70

Table 69: Market Shares of Leading Non Surface Sized Wood Free Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd., and Others 71

Table 70: Market Shares of Leading Paper Producers for Magazine & Advertising in North America (2015) - Percentage Share Breakdown by Volume for AbitibiBowater, Inc., J.D. Irving, Ltd., NewPage Corporation, P. H. Glatfelter Company, Sappi, Ltd., UPM-Kymmene Corporation, Verso Corporation, and Others.............. 72 Printing Paper.............. 73 Table 71: Market Shares of Leading Printing Paper Producers in Korea (2015) - Percentage Share Breakdown by Value for Hankuk Paper Manufacturing Co., Ltd., Hansol Artone Paper Co., Ltd., Hansol Holdings Co., Ltd., Moorim P&P Co., Ltd., Moorim Paper Co., Ltd., Moorim SP Co., Ltd., and Others 73 Supercalendered Paper..............74 Table 72: Market Shares of Leading Supercalendered Paper Manufacturers by Volume Sales in Europe (2014) - Percentage Breakdown for Holmen AB, Norske Skogindustrier ASA, Stora Enso Oyj, UPM-Kymmene Corporation, and Others 74 Coated Mechanical Paper..............75 Table 73: Market Shares of Leading Coated Mechanical Paper Manufacturers by Volume Sales Worldwide (2014) - Percentage Breakdown for Burgo Group, Norske Skogindustrier ASA, Sappi Limited, Stora Enso Oyj, UPM-Kymmene Corporation, and Others 75 Coated Wood Free (CWF) Paper..............76 Table 74: Market Shares of Leading Coated Wood Free (CWF) Paper Producers Worldwide (2015) - Percentage Share Breakdown by Volume for Burgo Group, Lecta, Sappi, Ltd., Stora Enso Oyj, UPM-Kymmene Corporation, and Others 76 Uncoated Freesheet.............. 77 Table 75: Market Shares of Leading Uncoated Freesheet Producers in North America (2015) - Percentage Breakdown by Value for Boise Inc., Domtar Corporation, Georgia-Pacific LLC (GP), International Paper Company (IP), and Others 77 Kraftliners.............. 78 Table 76: Market Shares of Leading kraftliner (Virgin) Manufacturers in Europe (2014) - Percentage Breakdown by Value for Europac, Metsä Group, Smurfit Kappa Group, The, Svenska Cellulosa Aktiebolaget, and Others 78

Table 77: Market Shares of Leading Kraftliner Manufacturers in Europe (2014) - Percentage Breakdown by Value for Ilim Group, Mondi Plc, Pulp Mill, Smurfit Kappa Group Plc, Svenska Cellulosa Aktiebolaget SCA and Others 79

Table 78: Market Shares of Leading Kraftliner Product Manufacturers in Europe (2014) -Percentage Breakdown by Value for Mondi Plc, Smurfit Kappa Group, Svenska Cellulosa Aktiebolaget and Others..............80 Surface Sized Uncoated WoodFree Paper 81 Table 79: Market Shares of Leading Surface Sized Uncoated WoodFree Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd. and Others.............. 81

Table 80: Market Shares of Leading Surface Sized Wood Free Paper Manufacturers in India (2015) - Percentage Share Breakdown by Value for Ballarpur Industries, Ltd., and Others 82 Paper and Board Products..............83 Table 81: Market Shares of Leading Paper and Board Product Manufacturers by Value Sales in South Africa (2014) - Percentage Breakdown for Nampak Ltd., and Others 83 Uncoated Fine Papers (UFP)..............84 Table 82: Market Shares of Leading Uncoated Fine Paper (UFP) Manufacturers in Eastern Europe (2014) - Percentage Breakdown by Value for International Paper Company, Mondi Plc and Others.............. 84

Table 83: Market Shares of Leading Uncoated Fine Paper (UFP) Manufacturers in Europe (2014) - Percentage Breakdown by Value for Arctic Paper S.A., International Paper Company, Metsä Group, Mondi Plc, Portucel, S.A., Stora Enso Oyj, UPM-Kymmene Corporation and Others 85 Uncoated Freesheet (UCFS)..............86 Table 84: Market Shares of Leading Uncoated Freesheet Paper (UCFS) Manufacturers in Latin America (2015) - Percentage Share Breakdown by Value for International Paper Company, Propal, Suzano Pulp and Paper and Others 86

Table 85: Market Shares of Leading Uncoated Freesheet Producers in North America (2015) - Percentage Share Breakdown by Shipment Volume for Boise Inc., Georgia-Pacific LLC (GP), International Paper Company (IP), Packaging Corporation of America and Others..............87 Uncoated Recycled Board (URB)..............88 Table 86: Market Shares of Leading Uncoated Recycled Board (URB) Manufacturers by Value Sales in North America (2014) - Percentage Breakdown for Caraustar Industries, Inc., National Gypsum Company, Newark Recycled Paperboard Solutions, Rock-Tenn Company, Sonoco Products Company, USG Corporation and Others.............. 88 Uncoated Woodfree (UWF) Paper..............89 Table 87: Market Shares of Leading Uncoated Woodfree (UWF) Paper Producers by Volume Worldwide (2014) - Percentage Breakdown for International Paper Company, Mondi Plc, Portucel Soporcel Group, Sappi Limited, Stora Enso Oyj, UPM-Kymmene Corporation, and Others 89

6. RECENT INDUSTRY DEVELOPMENTS..............90