Cascades

Cascades trades as CAS on the Toronto Stock Exchange. Its 2026 management proxy circular, filed under NI 62-103, discloses only two shareholders above the 10% threshold: Laurent Lemaire, of the founding family, at 12.7% held personally or through a wholly owned holding company, and Letko, Brosseau & Associates, a Montreal-based investment manager, at 12.5%. With no foreign holder disclosed and the largest reported owner and the exchange both Canadian, this is allocated fully to CA under the diffuse-control rule.

• Cascades Management Proxy Circular filing “Laurent Lemaire (1) 12,833,640 12.7%”
• Investors - Cascades vendor_statement “CAS (TSX)”

Cascades Fluff & Tuff, the brand on the Canadian shelf, states its bathroom tissue and paper towels are made in Quebec, and Cascades' own facility list names four Quebec tissue plants behind that brand: Candiac, Granby, Kingsey Falls and Lachute. The Tissue Papers segment also runs six US plants (Rockingham NC, Wagram NC, Pryor OK, Mechanicville NY, Eau Claire WI, Brownsville TN), but none is named as a source for Fluff & Tuff. No Laval, Whitby or Scarborough tissue plant was found, current or closed.

• Papier Hygiénique et Essuie-tout | Cascades Fluff & Tuff vendor_statement “les papiers hygiéniques et les essuie-tout Cascades Fluff & Tuff® sont fabriqués avec fierté au Québec!”
• Cascades Worldwide - Cascades vendor_statement “Tissue - Candiac, Tissue - Granby, Tissue - Kingsey Falls, Tissue - Lachute”

Cascades' 2025 annual report gives about 9,200 employees split 75% Canada (47% Quebec, 19% Ontario, 9% other provinces) and 25% United States. This is company-wide across both the Packaging and Tissue segments; no Tissue-segment-only country breakdown is published, but head office and all four plants behind the Canadian shelf brand are in Quebec.

• Cascades 2025 Annual Report vendor_statement “approximately 9,200 employees across Canada and the United States”

Cascades states its tissue papers are mainly made from recycled paper, and its Fluff & Tuff Enviro line is 100% recycled fibre; the virgin-fibre Fluff Excellence line is described as made from fibres sourced in Quebec. No country breakdown for the recovered paper feedstock is published, and recovered paper is traded across the Canada-US border, so this weights toward CA with a documented US share and a small remainder for other imported inputs.

• Tissue Paper Parent Rolls - Cascades vendor_statement “Our tissue papers are mainly made from recycled papers.”
• Papier Hygiénique Ultra Doux | Cascades Fluff® Excellence vendor_statement “ce papier hygiénique est conçu à partir de fibres vierges, ici au Québec”