Forward Looking Statements

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General: This presentation contains "forward-looking information" and "forward-looking statements" within the meaning of Canadian provincial securities laws and "forward-looking statements" within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, and the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, include statements which reflect management's expectations regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of West Fraser and its subsidiaries, including Norbord, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, and include words such as "expects," "anticipates," "plans," "believes," "estimates," "seeks," "intends," "targets," "projects," "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would" and "could."

Forward-looking statements are included under the headings:

  • Summary - Looking Forward, and
  • Demand Conditions for Wood Building Products and Fibre.

By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts, and other forward-looking statements will not occur. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to: (1) the impact of the COVID-19 pandemic on our operations and on customer demand, supply and distribution and other factors; (2) assumptions in connection with the economic and financial conditions in the U.S., Canada, Europe and globally and consequential demand for our products; (3) risks inherent in our product concentration and cyclicality; (4) effects of competition and product pricing pressures; (5) risks inherent to customer dependence; (6) effects of variations in the price and availability of manufacturing inputs, including continued access to fibre resources at competitive prices and the impact of third-party certification standards; (7) availability of transportation services, including truck and rail services, and port facilities; (8) various events that could disrupt operations, including natural, man-made or catastrophic events and ongoing relations with employees; (9) impact of changes to, or non-compliance with, environmental or other regulations; (10) government restrictions, standards or regulations intended to reduce greenhouse gas emissions; (11) impact of weather and climate change on our operations or the operations or demand of our suppliers and customers; (12) impact of any product liability claims in excess of insurance coverage; (13) risks inherent to a capital intensive industry; (14) impact of future outcomes of tax exposures; (15) potential future changes in tax laws, including tax rates; (16) effects of currency exposures and exchange rate fluctuations; (17) future operating costs; (18) availability of financing, bank lines, securitization programs and/or other means of liquidity; (19) impact of future cross border trade rulings or agreements; (20) implementation of important strategic initiatives and identification, completion and integration of acquisitions; (21) ability to implement new or upgraded information technology infrastructure; (22) impact of information technology service disruptions or failures; (23) changes in government policy and regulation; and (24) integration of the Norbord business.

In addition, actual outcomes and results of these statements will depend on a number of factors, including those matters described under "Risks and Uncertainties" in our 2020 Management's Discussion & Analysis ("MD&A"), and may differ materially from those anticipated or projected. This list of important factors affecting forward-looking statements is not exhaustive, and reference should be made to the other factors discussed in public filings with securities regulatory authorities. Accordingly, readers should exercise caution in relying upon forward-looking statements, and we undertake no obligation to update or revise any forward-looking statements publicly, whether written or oral, to reflect subsequent events or circumstances except as required by applicable securities laws.

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The Ketcham brothers in 1955: Sam, Pete and Bill.

West Fraser Total Shareholder Return

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14%

TSR Dec 30 2005 to Apr 12 2021

11.6%

12%

10.4%

9.7%

10%

8%

6.1%

6.6%

6.5%

6.1%

6%

4.3%

4%

2%

0%

West Fraser S&P 500

S&P/TSX

FTSE All- Competitor A Competitor B Competitor C Competitor D

share

  • Consistent, straightforward business plan
  • Loyal, long-term employee and management base
  • Conservative financial management coupled with proven ability to grow strategically
  • Strong historical shareholder returns

Source: Bloomberg

Summary

2020 Recap

  • Manageable operational impact due to COVID-19
  • Results buoyed by strong lumber and panel pricing
  • Safety and cost improvement from capital execution and operational excellence
  • Duty rate lowered in November
  • Liquidity improved and leverage reduced
  • Completed acquisition of Norbord Feb 1, 2021, enhancing diversity and scale

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Looking Forward

  • Fundamentals for wood product demand continue to remain favorable
  • Successful integration of Norbord
  • Continued focus on operational excellence
  • Continue to operationalize the benefits of strategic capital
  • Complete Dudley project and ramp up Chambord
  • Enhance ESG disclosure

Transformation into leading global wood products company with integration of Norbord

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Disclaimer

West Fraser Timber Co. Ltd. published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 16:45:02 UTC.