An anonymous director reports

WEST FRASER SENIOR LEADERSHIP TRANSITION PLAN

Ray Ferris, West Fraser Timber Co. Ltd.'s president and chief executive officer, plans to retire on Dec. 31, 2023.

Mr. Ferris has been with West Fraser for over 26 years in increasingly senior positions culminating in his appointment as president and chief operating officer in 2018 and as president and chief executive officer and a director of the company in 2019.

During his tenure as chief executive officer the company has grown substantially in sales, profits, product mix and geographic diversification. In addition, Mr. Ferris has driven the company's strong commitment to continual improvement in its safety, environmental and people programs.

Today, West Fraser is announcing the appointment of Sean McLaren, its current chief operating officer, as its new president and chief executive officer, effective Jan. 1, 2024. Mr. McLaren has been with West Fraser and predecessor companies for 35 years. He is a proven leader who is committed to West Fraser's operating philosophy of low-cost production and a prudent balance sheet which enables the company to grow through capital improvements and strategic growth opportunities. Mr. McLaren will continue West Fraser's commitment to its strong safety, environmental and people-focused culture.

West Fraser has benefited immeasurably from Mr. Ferris's strong leadership and its board enthusiastically looks forward to the company's continued growth and success under Mr. McLaren's leadership.

About West Fraser Timber Co. Ltd.

West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom and Europe. From responsibly sourced and sustainably managed forest resources, the company produces lumber, engineered wood products (oriented standard board, laminated veneer lumber, medium-density fibreboard, plywood and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials.

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