Interfor (IFP) Investor presentation summary

Investment highlights

• Pure-play exposure to North American lumber markets with a regionally diversified platform for stability.

• Structurally strengthened to withstand market cycles and positioned for long-term fundamentals.

• Top quartile margin producer with clear capital allocation priorities.

Company overview and operations

• Operates 24 sawmills and 1 reman facility, making it the third largest North American lumber producer.

• 4.4 billion board feet of lumber capacity diversified across five operating regions.

• 83% of revenue comes from softwood lumber, with the remainder from other wood products and by-products.

Manufacturing and production

• Modern, efficient, low-cost mills across BC Interior, US Northwest, Eastern Canada, US South, and Atlantic Canada.

• Production has increased sixfold since 2008, driven by strategic capex and acquisitions.

• Operations in all major timber baskets, with upside from recent capex investments.