Mr. Francois Paroyan reports

KP TISSUE DECLARES A QUARTERLY DIVIDEND OF $0.18 PER COMMON SHARE

KP Tissue Inc. has declared a quarterly dividend of 18 cents per common share, payable on July 17, 2023, to shareholders of record at the close of business on June 30, 2023, subject to applicable law.

The dividends paid are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

The dividend is being declared in connection with the declaration of a corresponding quarterly distribution by Kruger Products in which KP Tissue holds a limited partnership interest.

Dividend reinvestment plan

The corporation has a dividend reinvestment plan under which eligible shareholders may elect to have their cash dividends reinvested in additional common shares of KP Tissue. Under the plan, the corporation will automatically reinvest for participating shareholders the cash dividends of the company in newly issued common shares at a price per common share equal to 100 per cent of the five-day weighted average trading price of the common shares prior to the dividend payment date.

Only Canadian shareholders are eligible to participate in the DRIP and the DRIP is subject to additional limitations and restrictions. Interested shareholders are encouraged to review the full text of the DRIP, available on the company's website.

Shareholders who wish to participate in the DRIP should contact their broker, financial institution or other nominee through which their common shares are held to determine their eligibility and provide appropriate enrolment instructions, and to ensure any deadlines or other requirements that such broker, financial institution or nominee may impose or be subject to are met.

About KP Tissue Inc.

KP Tissue was created to acquire and its business is limited to holding a limited partnership interest in Kruger Products, which is accounted for as an investment on the equity basis. The company currently holds a 13.5-per-cent interest in Kruger Products.

About Kruger Products

Kruger Products is Canada's leading manufacturer of quality tissue products for household, industrial and commercial use. Kruger Products serves the Canadian consumer market with such well-known brands as Cashmere, Purex, SpongeTowels, Scotties, White Swan and Bonterra. In the United States, Kruger Products manufactures the White Cloud brand, as well as many private label products. The away-from-home division manufactures and distributes high-quality, cost-effective product solutions to a wide range of commercial and public entities. Kruger Products has approximately 2,700 employees and operates nine FSC COC-certified (FSC C-104904) production facilities in North America.