Canfor : CIBC Western Institutional Investor Conference

Canfor Corporation

25th Annual CIBC Western Institutional Investor Conference

January 20, 2022

25th Annual CIBC Western Institutional Investor Conference

Don Kayne	Pat Elliott
President and CEO	CFO & SVP Sustainability

The presentation and answers to questions today contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Factors that could have a material impact on any future oriented statements made herein include, but are not limited to: general economic, market and business conditions, product selling prices, raw material and operating costs, foreign exchange rates, interest rates, changes in law and public policy, the outcome of trade disputes, and opportunities available to or pursued by the Company.

For further details on these factors and our assumptions and applicable risks and uncertainties, please refer to Canfor Corporation's Annual Report for the

year ended December 31, 2020 available at www.canfor.com or www.sedar.com.

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Our people and communities thrive because we are focused on inclusion, equity and wellness everyday.

Our

Sustainability

Approach

Safety, Health & Wellness

We're committed to a zero-incident workplace and supporting the health and wellness of our people.

Indigenous

Relations

We aspire to be a partner of choice for Indigenous Peoples, a privilege afforded by fostering strong relationships and deeply respecting Indigenous histories, cultures, values, and beliefs.

Inclusion

& Diversity

We will foster a more inclusive and equitable culture and increase the diversity in our workforce.

Human	Community
Rights	Engagement
We are committed to	We will be an active
respecting human rights	corporate citizen
across our company,	focused on supporting
value chain and with	education, community,
stakeholders & partners	sustainability and
in our communities.	health initiatives.

Our vision is to create a future as sustainable as the

Our practices and products play an integral role

in helping to protect the planet and mitigate climate change.

forests.

We begin with a deep respect for the people our business touches, the products we create

Sustainable

Forestry

We are committed to practicing world class sustainable forestry that will result in resilient, productive and biodiverse forests.

Climate	Air
Change	Quality
We are committed to	We will continuously
playing a leading role	improve emissions
in the transition to a	management and
low-carbon economy.	achieve full regulation
compliance.

Water

Management

We will continuously improve and achieve full compliance for water usage and discharge.

and the planet we rely on to thrive. When we enable sustainability through these pillars, we position ourselves for long-term growth and impact.

Our products are sustainable because our manufacturing and supply chain is optimized for responsible resource use.

Supply Chain	Energy	Waste & Residuals
Management	Management	Management
We are committed	We will decrease the	We will optimize fiber
to embedding	energy intensity of the	utilization and minimize
sustainability	manufacturing	landfill waste.
throughout our	process and continue
supply chain.	to generate surplus	https://sustainability.canfor.com/	3
	clean energy.

Global

Operations

Lumber

38 Sawmills with annual operating capacity of 7.3 billion board feet

• 13 Western Canada - 3,630 MMfbm*
• 13 US South - 2,200 MMfbm**
• 12 Sweden - 1,500 MMfbm

Pulp andPaper

4 Mills in British Columbia

• 1.1 million tonnes of Northern Softwood Kraft
• 230k tonnes BCTMP
• 140k tonnes Kraft Paper

Other Operations

• • 9 value-added facilities (packing, housing, energy) - Sweden
  • 3 Pellet Plants - BC
  • 2 Glulam Plants - US South
  • Finger Joint Plant - US South
  • Green Energy Plant - BC
  • Trucking Fleet - US South
• Includes pending acquisition of Millar Western assets

**Includes Greenfield Sawmill Capacity in Louisiana

Regional Lumber Capacity

13%

20%

30%37%

	Sawmill
BC US South* Europe Alberta	Pulp mill

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Established Multi-National Supply Chain

Vida

Operations

Canadian

Operations

USA

Operations

SALES OFFICES

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