Slide 1: Q1 2026 Investor Presentation
Q1 2026 Investor Presentation May 6, 2025
Slide 2: Legal Disclaimer
Legal Disclaimer 2 This Presentation is being provided to you by GreenFirst Forest Products Inc. (“GreenFirst” or the “Company”) for informational purposes only. Cautionary Note Regarding Forward-Looking Information This Presentation includes information, statements, beliefs and opinions which are f
Slide 3: Overview
Overview Joel Fournier, Chief Executive Officer
Slide 4: Q1'26 Highlights
Q1’26 Highlights 4 Adjusted EBITDA of ($15.1M) for Q1’26 Average realized lumber selling price of $666/mfbm for Q1’26 Q1’26 sales volumes of 83,172 MFbm Q1’26 production volumes of 90,661 MFbm Production Manufacturing cost for Q1’26 increased as a result of January curtailments, weather-re
Slide 5: Q1'26 Highlights (cont.)
Q1’26 Highlights (cont.) 5 Completed the installation and ramp-up of the new saw line and planer mill at Chapleau mill. In the short term, additional strategic capital expenditures will be deferred. During Q1’26, the Company entered into a $30.0 million term loan under the Business Development
Slide 6: US Housing Starts Forecast
US Housing Starts Forecast 6 Source: FEA
Slide 7: Financial Summary
7 Financial Summary Peter Ferrante, CFO
Slide 8: Q1'26 Financial Comparison
Q1’26 Financial Comparison 8 1Adjusted EBITDA is a Non‐GAAP measure and does not have standardized meaning under GAAP or IFRS. As a result, it may not be comparable to information presented by other companies. For an explanation and reconciliation of Adjusted EBITDA to related comparable financial i
Slide 9: Net Income Change – Q1'26
Net Income Change – Q1’26 9 Net Income = $12,121 EBITDA = $6,519 Finance Costs includes interest expense on duties liability of $686 in Q1’26 vs an expense of $ 727 in Q4’25
Slide 10: Cash Flow Breakdown Q1'26
Cash Flow Breakdown Q1’26 10 Cashflow used in Ops = ($35,026) Total Cash Increase = $3,037 Cashflow used in Investing = ($564) Cashflow from Financing = $38,627 10
Slide 11: Maximum Availability Year-over-Year
Maximum Availability Year-over-Year 11
Slide 12: GreenFirst Vision and Mission
GreenFirst Vision and Mission 12 Vision GreenFirst Forest Products aims to grow its business in the lumber sector and become one of the largest wood producer in Ontario. Mission To become one of the top quartile lumber producers in North America by prioritizing continuous improvement, strategic capi
Slide 13: Thank You
PRODUITS FORESTIERS GREENFIRST ae FOREST PRODUCTS (@™ GREENFIRST FoREST PRODUCTS
Slide 14: Questions & Answer
Questions & Answer PRODUITS FORESTIERS [9 GREENFIRST FOREST PRODUCTS GREENFIRST FoREST PRODUCTS