X0306 4 2020-04-01 0 0001441236 Clearwater Paper Corp CLW 0001754874 Bowden Steve M 601 WEST RIVERSIDE AVE. SUITE 1100 SPOKANE WA 99201 0 1 0 0 Senior Vice President Common Stock 2020-04-01 4 A 0 30594 17.75 A 39425 D Represents award of restricted stock units ("RSUs") granted in connection with the leadership transition at Clearwater Paper Corporation and previously described in a Form 8-K filed by the Company on January 31, 2020. RSUs may be settled only for shares of common stock on a one-for-one basis. Represents award of RSUs that will vest on April 1, 2022, assuming continued employment. During the vesting period, an amount equal to the dividends that would have been paid on the RSUs had they been in the form of common stock will be converted into additional RSUs. /s/ Michael S. Gadd, Attorney-in-Fact 2020-04-03