British Columbia · CCAA

The purpose of this fourth report (the “ Fourth Report ”) is to provide this Honourable Court with information with respect to the following: a) a brief update on the Petitioners’ and the Monitor’s activities since the Third Report; b) an update on the Community Liaison Committee (as described in the Supplement to the Second Report and the sixth affidavit of Mr. Bruce Chapman). The Community Liaison Committee has since been renamed and will be referred to as the Environmental Liaison Committee (the “ ELC ”) in this Fourth Report; c) an update on notices of resiliating or disclaiming agreements (“ NRDs ”) sent by the Petitioners since the Third Report; d) the Monitor’s process to provide oversight with respect to the Petitioners’ use of funds advanced pursuant to the Initial Advance (the “ Budget Monitoring Process ”); e) the detailed activities and sub-activities that Northern Pulp has undertaken, to which the Monitor is overseeing pursuant to the Budget Monitoring Process; f) the analysis, as requested by this Honourable Court, comparing the Interim Financing Budget to the actual spend for the period from August 1, 2020 to October 25, 2020; g) a brief update on the Petitioners’ use of the Subordinated Interim Financing Facility and payments released discharging certain Employee Obligations; and h) the Monitor’s comments on the above

Court officer report · 30 October 2020