APPROVED BY: Jimmy S.H. Lee Executive Chairman (604) 684-1099 Juan Carlos Bueno Chief Executive Officer (604) 684-1099 -FINANCIAL TABLES FOLLOW- Summary Financial Highlights Summary Operating Highlights __ MERCER INTERNATIONAL INC. COMPUTATION OF OPERATING EBITDA (Unaudited) (In thousands) Operating EBITDA is defined as operating income (loss) plus depreciation and amortization and non-recurring capital asset impairment charges. Management uses Operating EBITDA as a benchmark measurement of its own operating results, and as a benchmark relative to its competitors.