Canfor Corporation · TSX:CFP
Canfor — Shareholder Meeting (May 2023)
22 slides from Canfor's shareholder meeting presentation, May 3, 2023
Slide 1: Annual General Meeting
Annual General Meeting MAY 3, 2023 | 12:00 PM PACIFIC Canfor Corporation 1
Slide 2: Polls Open
Polls Open If you haven’t already cast your vote online or by proxy, please cast your vote now. 2
Slide 3: Polls Closed
Polls Closed The polls on the resolutions are now closed. 3
Slide 4: Welcome
Welcome Today’s meeting is being hosted from the unceded territory of the Coast Salish peoples, including the territories of the Musqueam, Squamish, and Tsleil-Waututh Nations 4
Slide 5: Board Changes
Board Changes Anders Ohlner, thank you for your dedicated service and contributions to Canfor. Santhe Dahl has been nominated to join the Board. Welcome. Anders Ohlner Santhe Dahl 5
Slide 6: The Canfor Team
The Canfor Team 6
Slide 7: Our Strategy
Our Strategy Our vision is to be the most innovative and sustainable global resource company delivering the highest value to our customers. 7
Slide 8: 2022 Financial Overview
2022 Financial Overview $1.4 billion ($59 million) Operating Income* Operating Loss (Lumber Segment) (Pulp & Paper *Before adjusted items Segment) 8
Slide 9: Balance Sheet & Liquidity
Balance Sheet & Liquidity Strategic capital will continue to be deployed to improve our cost structure, advance our global diversification and grow our production capacity. $982 $2.4 $942 million billion million Total net cash Liquidity Invested in lumber segment 9
Slide 10: Softwood Lumber Agreement
Softwood Lumber Agreement Together with governments and industry partners, we will continue to defend our interests against the unjustified tariffs. $888 7.29% million preliminary rate for on deposit at the POR4 – estimated end of 2022 to be finalized in Q3 2023 10
Slide 11: 2022 Solid Wood Markets
2022 Solid Wood Markets Lumber prices reached near record highs at the beginning of 2022, but steeply declined over the latter part of the year. Lumber demand softness is expected to persist in the near term, but long-term fundamentals remain strong. 11
Slide 12: Value Creation
Value Creation We continue to create value by focusing on Diversification Innovation Integration Sustainability 12
Slide 13: A More Sustainable Footprint in Western Canada
A More Sustainable Footprint in Western Canada Acquired and integrated three solid wood facilities in Alberta ACQUISITION OF MILLAR WESTERN FACILITIES Restructured B.C. operations to better align manufacturing capacity with the available fibre supply A smaller but stronger operating platform in B.C.
Slide 14: Growing Canfor Southern Pine
Growing Canfor Southern Pine Construction of DeRidder, LA facility complete and start up underway Investing US$210 M to build a state- of-the-art greenfield facility in Axis, AL Investing US$130 M to modernize and expand our Urbana, AR facility 14
Slide 15: Strengthening Our Position in Sweden
Strengthening Our Position in Sweden Vida’s operations account for approximately 23% of Canfor’s total production capacity Capital projects underway at Borgstena, Alvesta and Vislanda facilities Looking to expand in Europe through organic growth 15
Slide 16: Sustainability
Sustainability ae TN - ~ We use every part of the tree that ~~ ~~~. _—— wa showin temaniatng Carbon from the atmosphere is absorbed by trees. At the end of a product life, the biagenic carbon goes back into the atmosphere to cycle through the carbon process again facility to create umber, pulp, +, s
Slide 17: Indigenous Partnerships
Indigenous Partnerships Stewardship WS Culture Relationships Recognition & Respect lS Economy in the Forest Programs & Systems
Slide 18: Q1 2023 Financial Results
Q1 2023 Financial Results Canfor Consolidated Adjusted operating loss of ($146 million) 18
Slide 19: 2023 Lumber Market Outlook
2023 Lumber Market Outlook Despite current headwinds, the longer term, underlying global lumber market fundamentals are expected to be solid. 19
Slide 20: Our People
Our People We are committed to the wellness of our people and have placed a significant focus on ensuring that everyone is safe, feels welcomed and is rewarded. 20
Slide 21: Thank You
Thank You Canfor Corporation
Slide 22: Q&A
Q&A