Canfor Corporation · TSX:CFP
Canfor — Canfor Pulp Products — Shareholder Meeting (May 2023)
17 slides from Canfor's shareholder meeting presentation, May 3, 2023
Slide 1: Annual General Meeting
Annual General Meeting MAY 3, 2023 | 11:00 AM PACIFIC Canfor Pulp
Slide 2: Polls Open
Polls Open If you haven’t already cast your vote online or by proxy, please cast your vote now. Canfor Pulp 2
Slide 3: Polls Closed
Polls Closed The polls on the resolutions are now closed. Canfor Pulp 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 Canfor Pulp 4
Slide 5: Board Changes
Board Changes Stan Bracken-Horrocks, thank you Stan Bracken-Horrocks for your invaluable contributions over 17 years of service. We look forward to welcoming Craig Armstrong and Norm Mayr as Independent Directors. Craig Armstrong Norm Mayr Canfor Pulp 5
Slide 6: Year in Review
Year in Review We faced global supply chain disruptions and regional fibre shortages, combined with operational efficiency and reliability challenges Our balance sheet remained strong thanks to the determined efforts of our team Canfor Pulp 6
Slide 7: 2022 Financial Overview
2022 Financial Overview ($59 million) $50 $97 million million Adjusted Net debt Available liquidity Operating Loss Net loss of $0.66 per share 10.5 $14 percent million Net debt to total Paper business capitalization ratio improvement Canfor Pulp 7
Slide 8: 2022 Global Pulp Markets
2022 Global Pulp Markets This resulted in sustained periods Markets strengthened through most of the year, as supply chain challenges of high global and unplanned pulp supply outages were combined with high demand pulp pricing Canfor Pulp 8
Slide 9: Pulp Operations
Pulp Operations Transportation shortages in B.C. disrupted operations Following a partial recovery boiler rebuild at Northwood, scheduled maintenance outages lead to an improvement in NBSK productivity Constrained residual chip supply led to reduced operating rates 9
Slide 10: A More Sustainable Operating Footprint
A More Sustainable Operating Footprint Made the difficult decision to close the pulp line at Prince George Pulp and Paper mill to better align production capacity with the available fibre supply Focused on optimizing a smaller but more sustainable operating footprint Canfor Pulp 10
Slide 11: Sustainability
Sustainability Sustainability is not an initiative, it’s what we do We have a long history of safeguarding the environment and are committed to ensuring we have operations that continue to be sustainable for the long term Canfor Pulp 11
Slide 12: Q1 2023 Financial Results
Q1 2023 Financial Results Canfor Pulp Operating loss of ($25 million) Canfor Pulp 12
Slide 13: 2023 Pulp & Paper Market Outlook
2023 Pulp & Paper Market Outlook Global softwood kraft pulp markets are anticipated to continue to weaken through Q2 2023 Relatively stable demand is projected to be impacted by above-average global pulp inventory levels Canfor Pulp 13
Slide 14: Our Future
Our Future We will continue to capitalize on Demand for kraft We are well positioned to capitalize the appreciation for the strength paper is expected to on the ongoing transition to a low- and technical attributes of our pulp remain strong carbon economy Canfor Pulp 14
Slide 15: Our People
Our People Our sincere thanks for their dedication and perseverance, and for their unwavering commitment to safety 15
Slide 16: Thank you
Thank you Canfor Pulp
Slide 17: Q&A
Q&A
Canfor Pulp Products — Shareholder Meeting (May 2023) on 6ix