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Investor Presentaiton

Western Red Cedar ("WRC") - Illustrative Price Trends FP WRC High Value Clears (C$ per mfbm) WRC Timbers (US$ per mfbm) $3,500 $12,000 $10,000 $3,000 $2,500 $8,000 $2,000 $6,000 $1,500 $4,000 $1,000 $2,000 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 122 '23 '12 '13 '14 '15 '16 '17 '18 '19 '20 20 Source: Random Lengths: Green WRC #2 Clear & Btr 4x6W RL, c.i.f. dest. N Euro WRC Decking (US$ per mfbm) Source: Random Lengths: Green WRC #2 & Btr AG 6x6 RL, net f.o.b. Mill WRC Boards and Trim (US$ per mfbm) 221 '21 '22 '23 23 $3,200 $2,800 $2,500 $2,000 $2,400 $2,000 $1,500 $1,600 $1,000 $1,200 $800 $500 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 Source: Random Lengths: Green WRC Deck Knotty 2x6 RL S4S, net f.o.b. Mill Source: Random Lengths: Coast Green WRC Std&Btr NH 3/4x4 RL S1S2E H&M, net f.o.b. Mill 12 47
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