Canfor : Raymond James Building Materials & Homebuilding Forum

Canfor Corporation

January 2023

Raymond James

2023 Building Materials & Homebuilding Forum

Pat Elliott	Dan Barwin
CFO & SVP, Sustainability	Director, Corporate Finance

The presentation and answers to questions today contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Factors that could have a material impact on any future oriented statements made herein include, but are not limited to: general economic, market and business conditions, product selling prices, raw material and operating costs, foreign exchange rates, interest rates, changes in law and public policy, the outcome of trade disputes, and opportunities available to or pursued by the Company.

For further details on these factors and our assumptions and applicable risks and uncertainties, please

refer to Canfor Corporation's Annual Report for the year ended December 31, 2021 available at www.canfor.com or www.sedar.com.

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Company Overview

• Global leader in the manufacturing of sustainable forest products
• Geographic and product diversification supporting earnings through the cycle
• Well positioned for further growth

Lumber	Pulp & Paper
38 Sawmills*	4 Pulp Mills
7.6 BBF Annual Capacity*	1M tonnes of Northern
Global platform	Softwood Kraft
Worlds Largest Softwood	Integrated Paper Machine
Lumber Producer	High-value product focus

Sawmill

Pulp mill

Other Operations

16 Value-Added Facilities

Pellet Plants
Glulam
Green Energy
Packaging
Modular Housing	3	3

*Includes Greenfield Sawmill in Louisiana (250 MMfbm, 2023), organic growth in Arkansas (115 MMfbm, 2024), Greenfield sawmill in Alabama (net increase of 130 MMfbm, 2024)

Our people and communities thrive because we are focused on inclusion, equity and wellness everyday.

Our

Sustainability

Approach

Safety, Health & Wellness

We're committed to a zero-incident workplace and supporting the health and wellness of our people.

Indigenous

Relations

We aspire to be a partner of choice for Indigenous Peoples, a privilege afforded by fostering strong relationships and deeply respecting Indigenous histories, cultures, values, and beliefs.

Inclusion

& Diversity

We will foster a more inclusive and equitable culture and increase the diversity in our workforce.

Human	Community
Rights	Engagement
We are committed to	We will be an active
respecting human rights	corporate citizen
across our company,	focused on supporting
value chain and with	education, community,
stakeholders & partners	sustainability and
in our communities.	health initiatives.

Our practices and products play an integral role

in helping to protect the planet and mitigate climate change.

Our vision is to create a future as sustainable as the forests.

We begin with a deep respect for the people our

Sustainable

Forestry

We are committed to practicing world class sustainable forestry that will result in resilient, productive and biodiverse forests.

Climate	Air
Change	Quality
We are committed to	We will continuously
playing a leading role	improve emissions
in the transition to a	management and
low-carbon economy.	achieve full regulation
compliance.

Water

Management

We will continuously improve and achieve full compliance for water usage and discharge.

business touches, the products we create and the planet we rely on to

Our products are sustainable because our manufacturing and supply chain is optimized for responsible resource use.

thrive. When we enable sustainability through these pillars, we position ourselves for long-term growth and impact.

Supply Chain	Energy	Waste & Residuals
Management	Management	Management
We are committed	We will decrease the	We will optimize fiber
to embedding	energy intensity of the	utilization and minimize
sustainability	manufacturing	landfill waste.
throughout our	process and continue
supply chain.	to generate surplus
	clean energy.

https://sustainability.canfor.com/

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Our Climate Ambition

As we make progress on our climate journey, we will continue to explore opportunities to reduce carbon emissions across our value chain

Reduce absolute scope 1 and scope 2 carbon emissions by 42% by 2030 from a 2020 base year

Measure our scope 3 emissions and establish a science-based reduction target by 2024

We plan to invest at least $250 million in carbon reduction projects across our business by 2030

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