Exhibit 99.1

News Release

International Paper Reports Third Quarter Earnings

Delivered Record Operating Earnings

Driven by Continued Margin Expansion and Solid Operational Performance

MEMPHIS, Tenn. – October 24th, 2013 – International Paper today reported third quarter 2013 net earnings attributable to common shareholders totaling $382 million ($0.85 per share), compared with net earnings of $259 million ($0.57 per share) in the second quarter of 2013 and $237 million ($0.54 per share) in the third quarter of 2012. Amounts in all periods include the impact of special items.

Diluted Earnings Per Share Attributable to International Paper Shareholders

Record operating earnings were $471 million ($1.05 per share) in the third quarter of 2013 compared with $288 million ($0.64 per share) in the second quarter of 2013 and $358 million ($0.81 per share) in the third quarter of 2012.

Quarterly net sales were $7.4 billion compared with $7.3 billion in the second quarter of 2013 and $7.0 billion in the third quarter of 2012.

Business segment operating profits before special items were $753 million in the third quarter of 2013, compared with $622 million in the second quarter of 2013 and $634 million in the third quarter of 2012.

“International Paper delivered record operating earnings in the third quarter, as our margins continued to expand. Results were driven by solid operational performance and higher prices that more than offset a spike in wood costs,” said John Faraci, Chairman and Chief Executive Officer. “Looking ahead, the company is well positioned going into 2014 and we continue to focus on growing free cash flow and generating above cost of capital returns.”

SEGMENT INFORMATION

The performance of the company’s business segments are measured quarter to quarter without variations caused by special items, as management focuses on business segment operating profits excluding those items. Third quarter 2013 business segment operating profits and business trends compared with the prior quarter are as follows:

Industrial Packaging operating profits in the third quarter of 2013 were $517 million ($499 million including special items) compared with $477 million ($474 million including special items) in the second quarter of 2013. In North America, higher selling prices for boxes and containerboard, operational improvements and fewer maintenance outages favorably impacted the quarter. Wood and waste fiber costs were higher than anticipated. Third quarter industry year-over-year box growth was approximately 0.5 percent, a modest improvement from flat growth in the second quarter of 2013. In Europe, sales volumes were seasonally lower and sales margins were down, reflecting higher board costs.

Printing Papers operating profits were $144 million ($93 million including special items) in the third quarter of 2013 versus $76 million (before and after special items) in the second quarter of 2013. The earnings increase of $68 million from the second quarter was primarily due to fewer planned maintenance outages in the U.S. and Europe and the non-recurrence of a $28 million bad debt reserve posted last quarter. This increase was partially offset by higher wood costs due to wet weather in the southeastern U.S.

Consumer Packaging operating profits were $73 million (before and after special items) in the third quarter of 2013 compared with $52 million ($51 million including special items) in the second quarter of 2013. In both North America and Europe, the business benefited from lower maintenance outage costs and favorable pricing.

xpedx, the company’s North American distribution business, reported operating profits of $19 million ($13 million including special items) in the third quarter of 2013 compared with $17 million (break-even including special items) in the second quarter of 2013. Seasonally higher sales volumes drove the earnings increase.

Ilim joint venture

International Paper recorded equity earnings of $11 million in the third quarter of 2013, compared with an equity loss of $34 million in the second quarter of 2013. The earnings improvement was partially due to foreign exchange movement of the U.S. dollar versus the Russian ruble. The Company recognized an after-tax foreign exchange gain of $8 million compared with a $23 million loss in the second quarter of 2013. The impact in both quarters was due to non-cash adjustments associated with the Ilim joint venture’s U.S. dollar denominated debt. Additionally, operating earnings improved during the third quarter as ramp-up efforts related to two major capital projects progressed.

Corporate Expenses

Net corporate expenses, excluding non-operating pension expense, for the 2013 third quarter were $13 million compared with $0 million in the second quarter of 2013 and $1 million in the third quarter of 2012.

Effective Tax Rate

The effective tax rate before special items for the third quarter of 2013 was 24 percent, compared with 30 percent in the second quarter of 2013. The lower rate in the third quarter is primarily the result of a onetime inclusion of a $30 million benefit related to the adjustment of the tax basis in certain of the Company’s fixed assets. The recording of this benefit is predicated upon a 2012 U.S. Court of Federal Claims decision decided in favor of another taxpayer.

Effects of Special Items

Special items in the third quarter of 2013 included a net pre-tax loss of $76 million ($47 million after taxes) for restructuring and other charges, pre-tax charges of $24 million ($15 million after taxes) for integration costs related to the Temple-Inland acquisition and a pre-tax charge of $1 million ($0 million after taxes) for other items. In addition, a tax benefit of $31 million related to the release of an income tax reserve was recorded. Restructuring and other charges included a pre-tax charge of $51 million ($31 million after taxes) for costs associated with the announced closure of our Courtland, Alabama mill, pre-tax charges of $15 million ($9 million after taxes) for debt extinguishment costs, pre-tax charges of $6 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, pre-tax charges of $11 million ($7 million after taxes) for costs associated with the announced potential spin-off of our xpedx operations, a pre-tax gain of $9 million ($6 million after taxes) related to the sale of the Bellevue, Washington box plant facility that was closed in 2010, and charges of $2 million (before and after taxes) for other items.

Special items in the second quarter of 2013 included a net pre-tax gain of $4 million ($2 million after taxes) for restructuring and other charges and pre-tax charges of $14 million ($8 million after taxes) for integration costs related to the Temple-Inland acquisition. Also included are a pre-tax charge of $6 million ($4 million after taxes) for an environmental reserve related to the Company’s property in Cass Lake, Minnesota and a pre-tax charge of $9 million ($5 million after taxes) to adjust the value of two Company airplanes to fair value. In addition, a gain of $13 million (before and after taxes) was recorded for a net bargain purchase gain on the first quarter 2013 acquisition of a majority share of our Packaging operations in Turkey. Restructuring and other charges included a pre-tax gain of $30 million ($19 million after taxes) for insurance reimbursements related to the 2012 Guaranty Bank legal settlement, pre-tax charges of $17 million ($10 million after taxes) for costs associated with the restructuring of our xpedx operations, pre-tax charges of $3 million ($2 million after taxes) for debt extinguishment costs, pre-tax charges of $3 million ($2 million after taxes) for costs associated with the announced potential spin-off of the xpedx operations and charges of $3 million (before and after taxes) for other items.

Special items in the third quarter of 2012 included pre-tax charges of $33 million ($24 million after taxes) for restructuring and other charges, pre-tax charges of $58 million ($34 million after taxes) for integration costs related to the Temple-Inland acquisition, and pre-tax charges of $19 million ($49 million after taxes) for costs associated with the divestiture of three containerboard mills. Restructuring and other charges included pre-tax charges of $13 million ($8 million after taxes) for debt extinguishment costs, pre-tax charges of $8 million ($4 million after taxes) for costs associated with the restructuring of our xpedx operations, pre-tax charges of $16 million ($11 million after taxes) for costs associated with the restructuring of our Packaging business in Europe, and a net pre-tax gain of $4 million (a charge of $1 million after taxes) for other items.

Discontinued Operations

Discontinued operations in the third quarter and second quarter of 2013 and the third quarter of 2012 included the operating earnings of Temple-Inland’s Building Products business for the period prior to the date of sale on July 19, 2013. Also included are the write-off of capital investments and costs associated with the divestiture of this business.

EARNINGS WEBCAST

The company will hold a webcast to review earnings at 9:00 a.m. ET / 8:00 a.m. CT today. All interested parties are invited to listen to the webcast live and view the slides to be presented at the webcast via the company’s Internet site at http://www.internationalpaper.com by clicking on the Investors tab and going to the presentations page. A replay of the webcast will also be available beginning approximately two hours after the call. Parties in the U.S. who wish to participate in the webcast via teleconference may dial (877) 316-2541. Those outside the U.S. should dial +1 (706) 679-8242 and ask to be connected to the International Paper third quarter earnings call. The conference ID number is 71203703. Participants should call in no later than 8:45 a.m. ET/7:45 a.m. CT. An audio-only replay will be available for four weeks following the call. To access the replay, dial +1 (404) 537-3406 or, within the U.S. only, (855) 859-2056, and when prompted for the conference ID, enter 71203703.

International Paper (NYSE: IP) is a global leader in packaging and paper with manufacturing operations in North America, Europe, Latin America, Russia, Asia and North Africa. Its businesses include industrial and consumer packaging and uncoated papers, complemented by xpedx, the company’s North American distribution company. Headquartered in Memphis, Tenn., the company employs approximately 70,000 people and is strategically located in more than 24 countries serving customers worldwide. International Paper net sales for 2012 were $28 billion. For more information about International Paper, its products and stewardship efforts, visit internationalpaper.com.

Certain statements in this press release may be considered forward-looking statements. These statements reflect management’s current views and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these statements. Factors which could cause actual results to differ include but are not limited to: (i) the level of our indebtedness and increases in interest rates; (ii) industry conditions, including but not limited to changes in the cost or availability of raw materials, energy and transportation costs, competition we face, cyclicality and changes in consumer preferences, demand and pricing for our products; (iii) global economic conditions and political changes, including but not limited to the impairment of financial institutions, changes in currency exchange rates, credit ratings issued by recognized credit rating organizations, the amount of our future pension funding obligation, changes in tax laws and pension and health care costs; (iv) unanticipated expenditures related to the cost of compliance with existing and new environmental and other governmental regulations and to actual or potential litigation; (v) whether we experience a material disruption at one of our manufacturing facilities; (vi) risks inherent in conducting business through a joint venture; (vii) our ability to reach a definitive agreement on a mutually acceptable transaction combining xpedx with Unisource, the receipt of governmental and other approvals and favorable rulings associated with such a transaction and the successful fulfillment or waiver of all other closing conditions for such a

transaction without unexpected delays or conditions, and the successful closing of such a transaction within the estimated timeframe; and (viii) our ability to achieve the benefits we expect from all strategic acquisitions, divestitures and restructurings. These and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the company’s Securities and Exchange Commission filings. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Contacts:

Media: Thomas J. Ryan, 901-419-4333; Investors: Jay Royalty, 901-419-1731 and Michele Vargas, 901-419-7287

INTERNATIONAL PAPER COMPANY

Consolidated Statement of Operations

Preliminary and Unaudited

(In millions, except per share amounts)

The accompanying notes are an integral part of this consolidated statement of operations.

International Paper Company

Reconciliation of Operating Earnings to Net Earnings

Attributable to International Paper Company

Preliminary and Unaudited

(In millions except for per share amounts)

Notes:

(1) The Company calculates Operating Earnings by excluding the after-tax effect of non-operating pension expense and items considered by management to be unusual from the earnings reported under U.S. generally accepted accounting principles (“GAAP”). Management uses this measure to focus on on-going operations, and believes that it is useful to investors because it enables them to perform meaningful comparisons of past and present operating results. International Paper believes that using this information, along with net earnings, provides for a more complete analysis of the results of operations by quarter. Net earnings is the most directly comparable GAAP measure.

(2) Since diluted earnings per share are computed independently for each period, nine-month per share amounts may not equal the sum of the respective quarters.

International Paper

Sales and Earnings by Industry Segment

Preliminary and Unaudited

(In Millions)

Sales by Industry Segment

International Paper Company

Reconciliation of Operating Profit to Operating Profit Before Special Items

(In millions)

(1) The Company calculates Operating Profit Before Special Items by excluding the pre-tax effect of items considered by management to be unusual from the earnings reported under U.S. generally accepted accounting principles (“GAAP”). Management uses this measure to focus on on-going operations, and believes that it is useful to investors because it enables them to perform meaningful comparisons of past and present operating results. International Paper believes that using this information, along with net earnings, provides for a more complete analysis of the results of operations by quarter. Net earnings is the most directly comparable GAAP measure.

International Paper

Sales Volume by Product (1)

Preliminary and Unaudited

International Paper Consolidated

INTERNATIONAL PAPER COMPANY

Consolidated Balance Sheet

Preliminary and Unaudited

(In Millions)

INTERNATIONAL PAPER COMPANY

Consolidated Statement of Cash Flows

Preliminary and Unaudited

(In Millions)