In November 2024, the Company and one of its subsidiaries entered into a shareholder agreement with SWEN, pursuant to which SWEN will fund up to €30 million in exchange for up to 222,222 preferred shares, representing an expected 20% total noncontrolling equity interest in BioNova. Of this commitment, €15 million was funded at the closing of the shareholder agreement in exchange for 111,111 preferred shares, which currently represents an equity interest in BioNova of approximately 14%. Subsequent funding is contingent on the achievement of certain project milestones.

The value of SWEN’s redeemable noncontrolling interest is reflected in temporary equity and is accreted to its estimated redemption value at each period end using the interest method. The following table presents the redeemable noncontrolling interest balance and activity:


	Three Months Ended				Six Months Ended
	June 27, 2026		June 28, 2025		June 27, 2026		June 28, 2025
Balance, beginning of period	$	11,661	$	11,337	$	11,366	$	10,503


Adjustment to redemption value	476		481		949		889
Net income attributable to redeemable noncontrolling interest	152		18		201		36
Comprehensive income (loss) adjustments:
Foreign currency translation adjustment on redemption value	(116)		919		(343)		1,327
Balance, end of period	$	12,173	$	12,755	$	12,173	$	12,755


	Three Months Ended				Six Months Ended
	June 27, 2026		June 28, 2025		June 27, 2026		June 28, 2025
Loss from continuing operations attributable to RYAM	$	(32,846)	$	(365,867)	$	(114,425)	$	(397,837)
Income from discontinued operations attributable to RYAM	—		2,670		—		2,670
Net loss attributable to RYAM	$	(32,846)	$	(363,197)	$	(114,425)	$	(395,167)