Mr. Trevor Pruden reports

CONIFEX ANNOUNCES SECURED TERM LOAN WITH BDC UNDER THE SOFTWOOD LUMBER GUARANTEE PROGRAM

Conifex Timber Inc.'s wholly owned subsidiary, Conifex Mackenzie Forest Products Inc., has completed a $19-million secured term loan with the Business Development Bank of Canada (BDC) under the softwood lumber guarantee program.

The loan has a maturity date of July 15, 2033, bears interest at BDC's floating base rate minus a variance of 0.60 per cent per year and is secured by Conifex's lumber business assets. The loan allows for interest-only payments until August, 2028. A portion of the loan was used to repay a bridge advance from Conifex's existing senior secured timber lender. The balance of the loan is available for working capital and general corporate purposes.

Conifex also announced today that it successfully restarted its sawmill in February. With the successful completion of the term loan, the company is progressing toward normalized operations and currently anticipates sustaining two-shift operations in the second half of 2026, subject to fibre supply conditions.

Conifex also announced today that it plans to release its fourth quarter 2025 results before the market open on Friday, March 13, 2026. Conifex has scheduled a conference call at 8 a.m. Pacific Time (11 a.m. Eastern Time) on March 13, 2026, to discuss its financial results. To participate in the call, please dial 1-877-883-0383 (toll-free in Canada and the United States, access ID No. 4333506.

A transcript of the call will be available upon request at investorrelations@conifex.com.

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.

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