Mercer International Inc. to acquire Holzindustrie Torgau ('HIT') significantly expanding its solid wood operations

NEW YORK, NY - Mercer International Inc. (Nasdaq: MERC) ('Mercer', the 'Company', 'we', 'our') announced that it has entered into an agreement to acquire all of the outstanding shares of the parent company of HIT for consideration of EUR270 million, inclusive of forecasted net working capital of approximately EUR43 million (the 'Transaction').

HIT owns, among other things, 100% of a timber processing and value-add pallet production facility in Torgau, Germany (the 'HIT Facility') and a wood processing facility in Dahlen, Germany that produces garden products.

The Transaction is subject to customary closing conditions, including receipt of requisite regulatory anti-trust approvals. The Transaction is expected to close in the third or early fourth quarter of 2022.

Contact:

Jimmy S.H. Lee

Executive Chairman

T: [phone]

Juan Carlos Bueno

Chief Executive Officer

T: [phone]

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