Ms. Joyce Wagenaar reports

WEST FRASER REDUCES LUMBER CAPACITY

West Fraser Timber Co. Ltd. will permanently close both its Augusta, Ga., and 100 Mile House, B.C., lumber mills by the end of 2025 following an orderly winddown. Today's decision is the result of timber supply challenges and soft lumber markets.

The 100 Mile House lumber mill is no longer able to reliably access an adequate volume of economically viable timber. Challenging softwood lumber demand, higher duties and additional tariffs have compounded this situation. The mill closure will impact approximately 165 employees at the site and reduce West Fraser's capacity by 160 million board feet.

The closure of the Augusta lumber mill is a result of challenging lumber demand and the loss of economically viable residual outlets, which combined has compromised the mill's long-term viability. The closure will impact approximately 130 employees at the site and reduce West Fraser's capacity by 140 million board feet.

West Fraser expects to mitigate the impact on affected employees by providing work opportunities at other company operations, where available.

West Fraser is also announcing that the 2024 indefinite curtailment of its lumber mills in Huttig, Ark., and Lake Butler, Fla., will now be permanent and the mills will be dismantled and the sites sold. The company also confirms its replacement Henderson, Tex., mill has commenced start-up and the adjacent mill has ceased operations.

The closure of these mills better positions West Fraser to compete in this challenging environment. The company expects to record restructuring and impairment charges in the fourth quarter of 2025 associated with this announcement and the factors outlined herein.

About West Fraser Timber Co. Ltd.

West Fraser is a diversified wood products company with more than 50 facilities in Canada, the United States, the United Kingdom and Europe, which promotes sustainable forest practices in its operations. The company produces lumber, engineered wood products (OSB, LVL, MDF, plywood and particleboard), pulp, newsprint, wood chips and other residuals.

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