EXHIBIT 12

VERSO PAPER HOLDINGS LLC

RATIO OF EARNINGS TO FIXED CHARGES

(Unaudited)

	Three Months Ended March 31,						Year Ended December 31,
(Dollars in millions)	2015			2014			2014			2013			2012			2011			2010
Earnings (Loss):
Net loss	$	(122	)	$	(91	)	$	(356	)	$	(111	)	$	(166	)	$	(123	)	$	(126	)
Amortization of capitalized interest		—			—			1			—			—			—			—
Capitalized interest		—			(1	)		(2	)		(1	)		(3	)		(3	)		(1	)
Fixed charges (below)		67			36			148			143			134			128			126
Loss adjusted for fixed charges	$	(55	)	$	(56	)	$	(209	)	$	31		$	(35	)	$	2		$	(1	)
Fixed charges:
Interest expense	$	66		$	34		$	144		$	139		$	128		$	122		$	123
Capitalized interest		—			1			2			1			3			3			1
Portion of rent expense representative of interest		1			1			2			3		$	3			3			2
Total fixed charges	$	67		$	36		$	148		$	143		$	134		$	128		$	126
Coverage deficiency	$	122		$	92		$	357		$	112		$	169		$	126		$	127