Mr. Sean McLaren reports

WEST FRASER RELEASES 2024 SUSTAINABILITY REPORT

West Fraser Timber Co. Ltd. has released its 2024 sustainability report, "Building Together: People and Partnerships." The report highlights the company's sustainability performance across a variety of environmental, social and governance goals and disclosed targets.

"Since our founding 70 years ago, West Fraser has recognized our responsibility to the environment and society while delivering solid financial performance," said Sean McLaren, president and chief executive officer, West Fraser. "This report provides some detail about our activities in 2024 and measures the progress we have made toward achieving our goals."

2024 key achievements highlighted in the report include:

• Broadening safety training and data insights: In 2024, the company implemented new contractor safety practices across the company and set new expectations around the oversight of contracted work. Further improving the company's safety program remains a top priority in 2025.
• Advancing its carbon reduction strategy: Its manufacturing operations were powered by 75-per-cent renewable energy. At the same time, 100 per cent of its mills progressed on their energy reduction road maps to materially reduce its carbon footprint by 2030 using Scope 1, 2 and 3 emission reduction targets, validated through the Science Based Targets initiative. A key highlight was a 22-per-cent reduction in its Scope 1 and 2 emissions compared with 2019 baseline levels, along with a 13-per-cent reduction in its Scope 3 emissions compared with its 2020 baseline levels. These reductions are on track to meet its 2030 greenhouse gas emission reduction targets.
• Driving sustainable forest management and wood procurement traceability: Requirements related to resource management and responsible sourcing are clarified through the company's Sustainable Forest and Wood Procurement Policy. Implemented in 2024, the policy provides a cohesive approach across the company.
• Partnering with indigenous nations: A key milestone was the agreement signed with the Lake Babine Nation forestry company, targeting long-term fibre supply for its mill in Smithers, B.C., and recognizing the nation's role as a resource steward. These arrangements remain subject to approval by the government of British Columbia, which is anticipated in 2025.
• Investing in communities: Within its communities, the company invested $4.3-million through 800 partnerships. Its investments focused on support for young people and improving mental health, and were targeted at helping rural areas where the company operates.

About West Fraser Timber Co. Ltd.

West Fraser is a diversified wood product 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. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers, and tissue.

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