Investor Presentaiton

External Log Sales Log Markets Determine Margin Decision WFP Log End Market WFP Sawmills Domestic Pulp Logs Description Western's sawlogs consumed by internal manufacturing operations Internal log supply supplemented by open market purchases to maximize margin Includes sawlogs, peelers (for engineered wood applications) and shingle logs sold through contractual commitments and open market transactions Volumes committed under long-term fibre supply agreements Commitments met through internal log supply, supply contracts and open market pulp log purchases Export Represents log sorts produced in excess of internal mill requirements Transportation optimization Primary Target Geographies Logs by Value Historical Average (1) 28% External Log 72% 20% Sales 3% $657 5% million (2) Logs by Volume Historical Average (1) 34% External Log 19% Sales 5.0 9% 66% million m3 6% (1) Annual average from 2015 to 2022; based on total external log sales and internal log consumption, including purchased logs. Internal transfer values based on Vancouver Log Market prices (2) Net of freight and fee in lieu Directing Log Volume To The Highest Margin Opportunity 38

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