Investor Presentaiton

TOP TIER LUMBER MARGINS $1,075 $975 Top tier margin performance across all market conditions LUMBER SEGMENT ADJ. EBITDA MARGINS ($/MBF) (1) $875 $775 $675 $575 $475 $375 $275 $175 $75 $(25) $(125) Q1 Q2 Q3 2019 INTERFOR INTERFOR PEER GROUP HIGH/LOW RANGE 40 Q4 Q1 Q2 Q3 Q4 Q1 10 Q2 Q3 2020 2021 (1) Based on public filings; reflects lumber segment results only; reported figures adjusted to reflect duties paid and FX for US$ companies. Peers include West Fraser, Canfor North America, Resolute, Rayonier Advanced Materials/, Potlatch Deltic and Weyerhaeuser. 25 25

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