Slide 1: Financial Performance Overview – Quarter 2, 2026
Financial Performance Overview – Quarter 2, 2026 Canfor Corporation Presented by: Pat Elliott – CFO & Corporate Secretary
Slide 2: Forward-looking statements
Forward-looking statements. • The presentation and answers to questions today contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expres
Slide 3: Q2 2026 Review: Items impacting earning comparability
Canfor Corporation. Q2 2026 Review: Items impacting earning comparability Q2 2026 Q1 2026 Millions of dollars (except for per share amounts) $ $/Share $ $/Share Shareholder net loss, as reported $ (18.5) $ (0.16) $ (72.1) $ (0.62) Non-operating items (after-tax, net of non-controlling interests) For
Slide 4: Sales, operating & cash earnings summary
Canfor Corporation. Sales, operating & cash earnings summary: Q2 2026 vs Q1 2026 Q2 Q1 Millions of dollars (unless otherwise noted) Variance 2026 2026 Sales $ 1,526.4 $ 1,359.1 $ 167.3 Reported operating income (loss) by segment Lumber 41.2 (43.7) 84.9 Pulp and Paper (23.1) (16.2) (6.9) Unallocated
Slide 5: Countervailing & anti-dumping duty summary
Canfor Corporation. Countervailing & anti-dumping duty summary Q2 Q1 Millions of dollars Variance 2026 2026 Cash deposits paid1 $ 48.3 $ 40.2 $ (8.1) Incremental duty recovery attributable to current quarter2 (24.2) (20.2) 4.0 Duty expense, as reported3 $ 24.1 $ 20.0 $ (4.1) Section 232 tariffs 10.1
Slide 6: Canfor Corporation - Lumber
Canfor Corporation - Lumber. Q2 2026 vs Q1 2026 Lumber segment adjusted operating income of $57 million, $120 million favourable to Q1 Q2 Q1 Millions of dollars (unless otherwise noted) 2026 2026 Variance • Delivered solid results across all lumber operating regions as tighter lumber supply and seas
Slide 7: Cash earnings summary
Canfor Corporation - Lumber. Cash earnings summary: Q2 2026 vs Q1 2026 Q2 Q1 Millions of dollars (unless otherwise noted) Variance 2026 2026 Lumber operating income (loss), as reported $ 41.2 $ (43.7) $ 84.9 Adjusting and one-time items1 15.5 $ (20.0) 35.5 Lumber adjusted operating income (loss), be
Slide 8: Canfor Corporation - Pulp and Paper
Canfor Corporation - Pulp and Paper. Q2 2026 vs Q1 2026 Q2 Q1 Pulp and paper segment adjusted Millions of dollars (unless otherwise noted) Variance operating loss of $20 million, $4 million 2026 2026 unfavourable to Q1 Sales $ 144.1 $ 166.3 $ (22.2) Pulp and paper operating loss, as reported $ (23.1
Slide 9: Appendix
Appendix.
Slide 10: Summary of adjusting and one-time items
Summary of adjusting and one-time items. Consolidated – Q2 2026 vs Q1 2026 Operating income (loss) Q2 2026 Actual Q1 2026 Actual 1.For the lumber segment, an asset write-down and impairment charge of $13.7M and restructuring costs of $8.8M were recognized Reported operating income (loss) $ 4.8 $ (72
Slide 11: Summary of adjusting and one-time items
Summary of adjusting and one-time items. Lumber – Q2 2026 vs Q1 2026 Q2 2026 Q1 2026 1.For the lumber segment, an asset write-down and Operating income (loss) Actual Actual impairment charge of $13.7M and restructuring costs of $8.8M Reported operating income (loss) $ 41.2 $ (43.7) were recognized i