Investor Presentaiton

Seasonality Of The Business Weather (snow pack, heat) and daylight can impact harvest volumes and costs Inventory levels can fluctuate through the year, impacting working capital Seasonal market demand can impact lumber production Typically higher lumber sales volumes in Q2 and Q3 when North American construction activity is at its peak Harvest Volume(1) (000 m³) 971 1,190 WFP Closing Log Inventory(1) (000 m³) 904 955 928 1,041 948 884 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Lumber Production & Shipments(1) (MMfbm) Increase (Decrease) in Working Capital(¹) ($ millions) $15 217 213 208 203 Q1 207 201 $8 200 193 Q2 ■ Production Q3 ■Shipments Q4 $0 40 ($10) 00 Q1 Q2 Q3 Q4 (1) Average of 2015 to 2022 excluding strike impacted Q3/19, Q4/19 and Q1/20 Seasonal Influences Impact Operations, Sales And Working Capital 42 42

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