Ms. Susan Yurkovich reports

VIDA AB COMPLETES ACQUISITION OF SAWMILLS IN CENTRAL SWEDEN

Canfor Corp.'s 77-per-cent-owned subsidiary, Vida AB, has completed the acquisition of AB Karl Hedin Sagverk. The transaction, announced in a company news release on July 22, 2025, adds approximately 230 million board feet to Vida's annual production capacity, bringing its total annual production capacity to approximately 2.1 billion board feet.

"We are excited to welcome the employees at AB Karl Hedin Sagverk's three sawmills in Karbenning, Krylbo and Sater into the Canfor family," said Susan Yurkovich, president and chief executive officer of Canfor. "This acquisition strengthens Vida's geographic footprint, increasing access to high-quality timber resources in Sweden, while continuing to diversify Canfor's operations globally."

About Canfor Corp.

Canfor is a global leader in the manufacturing of high-value low-carbon forest products, including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets, and green energy. Proudly headquartered in Vancouver, B.C., Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The company has a 77-per-cent stake in Vida AB, Sweden's largest privately owned sawmill company, and also owns a 54.8-per-cent interest in Canfor Pulp Products Inc. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.