Cascades Announces Successful Completion of Notes Offering

Cascades Inc. (TSX: CAS) (the "Company"), a leader in eco-friendly recycling, packaging and hygiene solutions, announced today that it has completed its previously announced private offering of US$350 million aggregate principal amount of 5.125% senior notes due 2026, US$300 million aggregate principal amount of 5.375% senior notes due 2028 and Cdn$175 million aggregate principal amount of 5.125% senior notes due 2025 (collectively, the "Notes"). Cascades USA Inc., a U.S. indirect wholly-owned subsidiary of the Company, acted as co-issuer in respect of each series of the Notes with the Company.

The net proceeds from the Notes offering will be used by the Company to (i) redeem all of its outstanding Cdn$250 million aggregate principal amount of 5.50% senior notes due 2021 (the "2021 Notes") and US$400 million aggregate principal amount of 5.50% senior notes due 2022 (the "2022 Notes") and (ii) repay certain amounts outstanding under its revolving credit facility. The redemption date of the 2021 Notes is December 13, 2019, and the redemption price is 101.375% of the principal amount, plus accrued and unpaid interest to, but not including, December 13, 2019. The redemption date of the 2022 Notes is December 26, 2019, and the redemption price is 101.375% of the principal amount, plus accrued and unpaid interest to, but not including, December 26, 2019.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities mentioned in this press release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Certain statements in this release, including statements regarding future results and performance, are forward-looking statements (as such term is defined under applicable securities law, including the Private Securities Litigation Reform Act of 1995) based on current expectations. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially from those projected, including, but not limited to, the effect of general economic conditions, decreases in demand for the Company's products, increases in raw material costs, fluctuations in selling prices and adverse changes in general market and industry conditions and other factors listed in the Company's U.S. Securities and Exchange Commission and Canadian Securities Commissions filings.

Founded in 1964, Cascades Inc. offers sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs. The Company employs 11,700 women and men and operates close to 100 operating units located in Canada, the United States and Europe. With its management philosophy, half a century of experience in recycling, and continuous efforts in research and development as driving forces, Cascades Inc. continues to deliver the innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the planet. Cascades Inc.'s shares trade on the Toronto Stock Exchange under the ticker symbol CAS.