CMPC Reports Fourth Quarter 2025 Results; Progresses on Strategic Projects and Balance Sheet Strengthening

Santiago, Chile – January 30, 2026 – Empresas CMPC S.A. (“CMPC”) reported its consolidated financial results for the fourth quarter of 2025, highlighting resilient operating performance, continued progress on strategic initiatives, and disciplined capital allocation amid a challenging global pulp and packaging environment.

Financial Highlights

• Consolidated sales reached USD 1,891 million, up 1% QoQ and down 1% YoY, reflecting higher pulp revenues partially offset by softer results in Biopackaging and Softys.

• Adjusted EBITDA totaled USD 262 million, increasing 1% QoQ, with an Adjusted EBITDA margin of 13.8%.

• Net income amounted to USD 37 million, improving both quarter-over-quarter and year-over-year.

• Free cash flow reached USD 308 million, up 37% QoQ, supported by strong operating cash generation.

• Net debt stood at USD 5.0 billion, with a Net Debt / Adjusted EBITDA ratio of 3.97x. CMPC reiterated its expectation to return to its target leverage range of 2.5x–3.5x over the coming months through operating cash flow and asset monetization.

Operational Performance

• Pulp & Forestry: Sales increased 6% QoQ, supported by higher volumes and pricing. Adjusted EBITDA reached USD 168 million, up 4% QoQ, despite lower year-over-year pulp prices.

• Softys: Sales declined 1% QoQ but increased 9% YoY, driven by the integration of the Falcon personal care operation in Brazil. Adjusted EBITDA rose 13% QoQ to USD 107 million.

• Biopackaging: Sales decreased 5% QoQ and 12% YoY due to lower volumes amid high industry inventory levels. Adjusted EBITDA was USD 7 million.

Strategic Projects and Investments

• Capital expenditure totaled USD 179 million in 4Q25, including USD 90 million in organic growth investments and USD 89 million in maintenance capex.

• CMPC advanced planning for the Natureza Project, a cornerstone growth initiative in Brazil. As part of this project:

  • CMPC received a concession to build a new private port terminal at the Port of Rio Grande, a key logistics asset.

  • The Natureza Project is expected to be submitted to the Board of Directors for approval in mid-2026.

Accounting and Balance Sheet Update

• In January 2026, CMPC implemented a change in accounting policy for forestry land, moving from historical cost to fair value (IAS 16).

• This revaluation increased total assets to USD 20.6 billion and strengthened equity attributable to owners to USD 10.1 billion, without impacting the income statement.

Sustainability and ESG

• CMPC achieved a AAA rating from CDP for climate change, water security, and forest management.

• The company was recognized for the third consecutive year as the world’s most sustainable forestry company in the Dow Jones Best-in-Class Index.

• Progress continued toward CMPC’s 2030 sustainability targets, including emissions reduction, water efficiency, and conservation expansion.

Outlook

CMPC remains focused on restoring leverage metrics, advancing strategic growth projects, strengthening customer relationships, and maintaining financial resilience. The company expects improving market conditions and disciplined execution to support performance through 2026.