Interfor (IFP) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order with confirmation of secretary and scrutineer appointments.

• Only shareholders of record as of March 17, 2026, or their proxies, were entitled to vote.

• Quorum established with 60 shareholders representing 44,610,050 shares.

• Presentation outlined business outlook, strategic priorities, and forward-looking statements, emphasizing caution regarding future projections due to market uncertainties.

Financial performance review

• Production increased sixfold since 2008, positioning as a top North American lumber producer.

• Maintained top quartile operating margins and strong return on capital employed compared to peers.

• Margins remained above breakeven despite market troughs, with long-term average margin of ~$100/MBF.

• Implied trading value is ~25% of replacement cost and -50% of precedent North American lumber M&A.

Board and executive committee updates

• Number of directors reduced from 11 to 9 following a shareholder vote.

• Election of nine director nominees, all of whom consented to act, carried without opposition.

• EVP & CFO and Director of Corporate Development & Investor Relations provided as key contacts for further information.