Item 2. Properties

We operate locations in North America, including the majority of U.S. states, South America, Europe, Asia, Africa and Australia. We

own our principal Group head office in Dublin, Ireland.

Our corporate offices, significant regional offices and operating facilities (including our mills) as of December 31, 2025 are

summarized below:

(1) Excludes facilities we are in the process of closing.

The tables that follow show our estimated annual production capacity in thousands of tons by mill at December 31, 2025. The capacity

reflects our current expectations, including assumptions such as product mix and basis weight. Our mill system production levels and

operating rates may vary from year to year due to changes in market and other factors, including weather-related events. We own all of

our mills. We believe that our existing production capacity is adequate to serve existing demand for our products and consider our

plants and equipment to be in good condition. At December 31, 2025, we also have approximately 308,000 acres of forests and

plantations, the majority of which are owned in Latin America in Colombia and Brazil.

North America segment mills - annual production capacity in thousands of tons

Europe, MEA and APAC segment mills - annual production capacity in thousands of tons

LATAM segment mills - annual production capacity in thousands of tons