Ms. Stephanie Corrente reports

STELLA-JONES ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Stella-Jones Inc.'s notice of intention to make a normal course issuer bid. Pursuant to the notice, Stella-Jones may, during the 12-month period commencing Nov. 14, 2023, and ending Nov. 13, 2024, purchase for cancellation, up to 2.5 million common shares, representing approximately 5 per cent of the public float of its common shares. As at Oct. 31, 2023, Stella-Jones had 57,153,679 common shares issued and outstanding, 49,446,375 common shares comprising the public float. As approved by the TSX, the company was authorized to purchase for cancellation up to five million common shares during the 12-month period commencing on Nov. 14, 2022, and ending on Nov. 13, 2023. During the period commencing Nov. 14, 2022, and ending Oct. 31, 2023, the company purchased 2,426,452 common shares through the facilities of the TSX at a weighted average price of approximately $57.62 per common share, for a total consideration of approximately $139,802,149.

The notice provides that purchases under the normal course issuer bid will be effected on the open market through the facilities of the TSX. The average daily trading volume of the common shares on the TSX for the six-month period ended Oct. 31, 2023, was 116,080 common shares and, therefore, in accordance with the requirements of the TSX, the daily purchase limit under the NCIB on the TSX will be 29,020 common shares, representing 25 per cent of the ADTV, subject to certain prescribed exceptions. The price that Stella-Jones will pay for any common shares acquired by Stella-Jones under the NCIB will be the market price of the common shares at the time of acquisition. Purchases will be made at management's discretion. Additionally, Stella-Jones has implemented an automatic share purchase plan with its designated broker in connection with the NCIB in order to allow, if deemed advisable by Stella-Jones, for share purchases during self-imposed blackout periods.

The board of directors of Stella-Jones believes that the repurchase of common shares represents an attractive and responsible investment of capital and is in the best interests of Stella-Jones.

About Stella-Jones Inc.

Stella-Jones Inc. is North America's leading producer of pressure-treated wood products. It supplies the continent's major electrical utilities and telecommunication companies with wood utility poles and North America's Class 1, short line and commercial railroad operators with railway ties and timbers. Stella-Jones also provides industrial products, which include wood for railway bridges and crossings, marine and foundation pilings, construction timbers and coal tar-based products. Additionally, the company manufactures and distributes premium treated residential lumber and accessories to Canadian and American retailers for outdoor applications, with a significant portion of the business devoted to servicing the Canadian market through its national manufacturing and distribution network. The company's common shares are listed on the Toronto Stock Exchange.

We seek Safe Harbor.