Ms. Susan Wood reports

ACADIAN TIMBER CORP. ANNOUNCES ELECTION OF DIRECTORS

The nominees listed in the management proxy circular for Acadian Timber Corp.'s 2023 annual meeting of shareholders have been elected as directors of the company. Detailed results of the votes for the election of directors held at the virtual annual meeting of shareholders on May 4, 2023, are set out herein.

About Acadian Timber Corp.

Acadian Timber is one of the largest timberland owners in Eastern Canada and the northeastern United States and has a total of approximately 2.4 million acres of land under management. Acadian owns and manages approximately 761,000 acres of freehold timberlands in New Brunswick and approximately 300,000 acres of freehold timberlands in Maine and provides timber services relating to approximately 1.3 million acres of Crown-licensed timberlands in New Brunswick. Acadian's products include softwood and hardwood sawlogs, pulpwood and biomass byproducts, sold to approximately 90 regional customers.