Mr. Ken Shields reports

CONIFEX ANNOUNCES LEADERSHIP TEAM PROMOTION

Conifex Timber Inc. has promoted Andrew McLellan to president and chief operating officer.

As president, Mr. McLellan will lead Conifex's business units and pursue value-added opportunities in fibre procurement, lumber manufacturing and marketing, green power generation, and other complementary businesses. Mr. McLellan retains responsibility for forest sustainability, safety and environmental compliance, and will continue to report to Ken Shields, chairman and chief executive officer.

Mr. McLellan commented, "With the chief forester's May 4, 2023, release of a new harvest level and fibre sourcing determination for the Mackenzie timber supply area, the Conifex team looks forward to working on a multiyear plan to optimize the performance and scale of our Mackenzie facilities."

Mr. McLellan has over 25 years of experience in various leadership roles within Canada and internationally in a variety of industries including energy, oil and gas, manufacturing, and forestry. Prior to joining Conifex in 2016, Mr. McLellan served as vice-president and co-founder of a successful engineering and project management consulting firm focused on developing clean and renewable energy projects.

Mr. McLellan is a registered professional forester and member of the Forest Professionals B.C. and began his forestry career in Prince George, B.C., in 1997 with Northwood Pulp and Timber which was later acquired by Canfor Corp. in 1999.

Ken Shields commented, "Conifex is becoming recognized as a leader in the forest products sector in northeastern British Columbia, and it continues to be my privilege to help build and work with our team of dedicated professionals, led by Andrew and recently appointed chief financial officer Trevor Pruden."

About Conifex Timber Inc.

Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Canadian and Japanese markets. Conifex also produces bioenergy at its power generation facility at Mackenzie, B.C.

We seek Safe Harbor.