Resolute Forest Products Inc. (RFP) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Exhibit 99.1

US $

Resolute Reports Preliminary Fourth Quarter and 2017 Results

MONTRÉAL, CANADA, February 1, 2018 – Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported net income for the quarter ended December 31, 2017, of $13 million, or $0.14 per share, compared to a net loss of $45 million, or $0.50 per share, in the same period in 2016. Sales were $898 million in the quarter, an increase of $9 million from the fourth quarter of 2016. Excluding special items, the company reported net income of $14 million, or $0.15 per share, compared to a net loss, excluding special items, of $7 million, or $0.08 per share, in the fourth quarter of 2016.

For the year, the company reported a GAAP net loss of $84 million, or $0.93 per share, compared to a net loss of $81 million, or $0.90 per share, in 2016. Sales were $3.5 billion, down 1%, from the previous year. Excluding special items, the company reported net income of $12 million, or $0.13 per share, compared to a net loss of $12 million, or $0.13 per share, in 2016.

“An otherwise solid quarter was impacted by the ongoing restructuring at our Calhoun paper operations, as well as maintenance outages at several locations. Also, the appreciation in our share price in the quarter, and company performance increased our share-based compensation expense,” said Richard Garneau, president and chief executive officer. “Overall, we are pleased with the performance of our lumber and newsprint segments, as well as our pulp business, which realized one of its best quarters.”

Non-GAAP financial measures, such as adjustments for special items and adjusted EBITDA, are explained and reconciled below.

Resolute also today announced the selection and appointment of Yves Laflamme as the company’s new president and chief executive officer, and a member of the Board of Directors, succeeding Richard Garneau.

Operating Income Variance Against Prior Period

Consolidated

The company recorded operating income of $54 million in the quarter, an improvement of $6 million compared to the third quarter of 2017. The company’s operating results benefitted from higher selling prices across most segments ($29 million), a gain on the disposition of assets of our Mokpo (South Korea) paper mill, and lower closure-related costs. Despite higher shipments in market pulp and newsprint, overall volumes decreased, reflecting lower shipments of specialty papers following the closure of two paper machines at Calhoun (Tennessee), and seasonally lower volumes in wood products. Operating results were also unfavorably affected by higher planned maintenance costs, and seasonally higher fuel expenses, and fiber costs. As a result of the company’s performance and the 119% increase in share price in the quarter, an $8 million increase in share-based compensation expense was recorded in the fourth quarter.