SCHEDULE 13G/A 0000919574-25-004843 0001316622 XXXXXXXX LIVE 1 Common Stock, par value $1.00 per share 09/30/2025 0001333274 Mercer International Inc. 588056101 700 West Pender Street Suite 1120 Vancouver A1 V6c 1g8 Rule 13d-1(c) REDWOOD CAPITAL MANAGEMENT LLC b DE 0.00 4648133.00 0.00 4648133.00 4648133.00 N 6.9 IA OO Redwood Capital Management Holdings, LP b DE 0.00 4648133.00 0.00 4648133.00 4648133.00 N 6.9 HC PN Double Twins K, LLC b DE 0.00 4648133.00 0.00 4648133.00 4648133.00 N 6.9 HC OO Redwood Master Fund, Ltd. b E9 0.00 3889143.00 0.00 3889143.00 3889143.00 N 5.8 CO Ruben Kliksberg b X1 0.00 4648133.00 0.00 4648133.00 4648133.00 N 6.9 HC IN Mercer International Inc. Suite 1120, 700 West Pender Street, Vancouver, BC V6C 1G8, Canada REDWOOD CAPITAL MANAGEMENT LLC Redwood Capital Management Holdings, LP Double Twins K, LLC Redwood Master Fund, Ltd. Ruben Kliksberg REDWOOD CAPITAL MANAGEMENT LLC 250 West 55th St., 26th Floor New York, NY 10019 Redwood Capital Management Holdings, LP 250 West 55th St., 26th Floor New York, NY 10019 Double Twins K, LLC 250 West 55th St., 26th Floor New York, NY 10019 Redwood Master Fund, Ltd. c/o Redwood Capital Management, LLC 250 West 55th St., 26th Floor New York, NY 10019 Ruben Kliksberg 250 West 55th St., 26th Floor New York, NY 10019 REDWOOD CAPITAL MANAGEMENT LLC - Delaware Redwood Capital Management Holdings, LP - Delaware Double Twins K, LLC - Delaware Redwood Master Fund, Ltd. - Cayman Islands Ruben Kliksberg - United States Y REDWOOD CAPITAL MANAGEMENT LLC - 4,648,133 Redwood Capital Management Holdings, LP - 4,648,133 Double Twins K, LLC - 4,648,133 Redwood Master Fund, Ltd. - 3,889,143 Ruben Kliksberg - 4,648,133 REDWOOD CAPITAL MANAGEMENT LLC - 6.9% Redwood Capital Management Holdings, LP - 6.9% Double Twins K, LLC - 6.9% Redwood Master Fund, Ltd. - 5.8% Ruben Kliksberg - 6.9% REDWOOD CAPITAL MANAGEMENT LLC - 0 Redwood Capital Management Holdings, LP - 0 Double Twins K, LLC - 0 Redwood Master Fund, Ltd. - 0 Redwood Master Fund, Ltd. - 0 Ruben Kliksberg - 0 REDWOOD CAPITAL MANAGEMENT LLC - 4,648,133 Redwood Capital Management Holdings, LP - 4,648,133 Double Twins K, LLC - 4,648,133 Redwood Master Fund, Ltd. - 3,889,143 Ruben Kliksberg - 4,648,133 REDWOOD CAPITAL MANAGEMENT LLC - 0 Redwood Capital Management Holdings, LP - 0 Double Twins K, LLC - 0 Redwood Master Fund, Ltd. - 0 Ruben Kliksberg - 0 REDWOOD CAPITAL MANAGEMENT LLC - 4,648,133 Redwood Capital Management Holdings, LP - 4,648,133 Double Twins K, LLC - 4,648,133 Redwood Master Fund, Ltd. - 3,889,143 Ruben Kliksberg - 4,648,133 Y N All of the securities reported in this Schedule 13G are directly owned by advisory clients of REDWOOD CAPITAL MANAGEMENT LLC. None of those advisory clients, other than Redwood Master Fund, Ltd., may be deemed to beneficially own more than 5% of Common Stock, par value $1.00 per share. N Please see Exhibit B attached hereto. Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification REDWOOD CAPITAL MANAGEMENT LLC By: Redwood Capital Management Holdings, LP, its sole member, By: Double Twins K, LLC, its general partner, By: /s/ Ruben Kliksberg* 11/14/2025 Redwood Capital Management Holdings, LP By: Double Twins K, LLC, its general partner, By: /s/ Ruben Kliksberg* 11/14/2025 Double Twins K, LLC /s/ Ruben Kliksberg* 11/14/2025 Redwood Master Fund, Ltd. By: Redwood Capital Management, LLC, its investment manager, By: Redwood Capital Management Holdings, LP, its sole member, By: Double Twins K, LLC 11/14/2025 Ruben Kliksberg /s/ Ruben Kliksberg 11/14/2025 * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.