Canfor Extending Temporary Curtailments in BC

Canfor Corporation (TSX:CFP) is announcing an extension of sawmill curtailments in British Columbia (B.C.) due to ongoing weak market conditions and the lack of available economic fibre. The production capacity will be reduced through two-week curtailment extensions in January at select solid wood facilities in B.C.

This will remove approximately 21 million board feet in addition to the 150 million board feet previously announced on December 5, 2022.

The Company will continue to adjust operating rates to align with market conditions and the available
supply of economically viable timber.

About Canfor Corporation

Canfor is a leading integrated forest products company based in Vancouver, BC with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi, Arkansas and Louisiana, as well as in Sweden with its majority acquisition of the Vida Group. Canfor produces primarily softwood lumber and also owns a 54.8% interest in CPPI, which is one of the largest global producers of market Northern Bleached Softwood Kraft Pulp and a leading producer of high performance kraft paper. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit canfor.com.

Contact:

Michelle Ward – Vice President, Corporate Communications – communications@canfor.com- (604) 661-5225

Source: Canfor Corporation