British Columbia · CCAA

1. The purpose of this fifth report (the “ Fifth Report ”) is to provide this Honourable Court with information with respect to the following: a) an update on the Petitioners’ and the Monitor’s activities since the Fourth Report dated October 30, 2020; b) an update on the activities of the Environmental Liaison Committee (the “ ELC ”) and related communications with other stakeholders; c) an update of the activities of the Monitor pursuant to a contribution agreement dated March 17, 2020 (the “ Contribution Agreement ”); d) an update on notices of resiliating or disclaiming agreements (“ NRDs ”) sent by the Petitioners; e) the budget to actual cash flow analysis (the “ Variance Analysis ”) for the period August 1, 2020 through to November 30, 2020, with respect to the Initial Milestone Activities Schedule attached to the Supplement to the Second Report at Appendix “A”; f) the updated cash flow projections for the Petitioners (the “ Fifth Report Projections ”) for the period December 1, 2020 through April 30, 2021 (the “ Fifth Report Forecast Period ”); g) the updated interim financing budget showing expected longer-term costs for the period December 1, 2020 through June 30, 2022; h) an update on the milestone analysis and progress of the Petitioners pertaining to the overall restructuring, including resumption of mill operations; i) a request for an extension to the Stay Period; and j) the Monitor’s Recommendations

Court officer report · 8 December 2020