Mr. Joel Fournier reports

GREENFIRST ANNOUNCES SALE OF PRIVATE LAND INTEREST IN KENORA, ONTARIO

Greenfirst Forest Products Inc. has entered into an agreement to sell its interest in approximately 118 acres of private forest land to Kenora Chiefs Advisory for total cash consideration of $5-million. The property is located within the city of Kenora, Ont.

"We are delighted to have finalized this transaction with KCA," said Joel Fournier, Greenfirst's chief executive officer. "This sale will enable KCA to pursue long-term development opportunities on the property while unlocking significant value for Greenfirst shareholders."

The transaction closed on Dec. 6, 2024.

About Greenfirst Forest Products Inc.

Greenfirst is a forest-first business, focused on sustainable forest management and lumber production. The company owns four sawmills located in rich wood baskets proudly operating over six million hectares of FSC certified public Ontario forest lands (FSC-C167905). The company believes that responsible forest practices, coupled with the long-term green advantage of lumber, provide Greenfirst with significant cyclical and secular advantages in building products.

We seek Safe Harbor.