Greenfirst Forest Products Inc · TSX:GFP
Greenfirst Forest Products — Q2 2026 Earnings Presentation
18 slides from Greenfirst Forest Products's earnings presentation, Aug 11, 2026
Slide 1: Investor Presentation
Investor Presentation August 11, 2022
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
Slide 3: Strong Team with Forestry Expertise
Strong Team with Forestry Expertise 3 Rick Doman Alfred Colas Michel Lessard CEO and Director CFO President Senior Leadership Team Mathieu Brière, Vice President, Sales and Marketing John Shelley Chief Information Officer Darren Ethier, Vice President, Forestry Operations Geneviève Labrecque Chief F
Slide 4: Overview
OVERVIEW PRODUITS FORESTIERS
Slide 5: Q2'22 Overview
Q2'22 Overview 5 Q2 '22 Net Earnings QTD - $29.5 million / Diluted EPS $0.15 YTD - $63.5 million / Diluted EPS $0.33 Q2'22 EBITDA and Adjusted EBITDA QTD - $50.9 million / $54.3 million YTD - $97.2 million / $99.2 million Trends - Pricing, Volumes, Disruptions US Lumber Prices for 2&better in Q2'22
Slide 6: Developments
Developments 6 Private Forest Lands Kenora Waterfront Relocation of Kenora Property Sawmill Equipment GreenFirst owns 203,000 acres GreenFirst owns 114 acres and Evaluating a proposal by the of private forest land located a 4 acre island of prime lake- Ontario Government to rebuild south of Kapuskas
Slide 7: Outlook – Lumber and Paper Pricing
Outlook – Lumber and Paper Pricing 7 § North American lumber prices are expected to remain volatile § Inflation and rapidly increasing interest rates having a negative impact on lumber markets § Home Centers demand carrying the market as builders' confidence eroding fast § Field inventories are at r
Slide 8: Lumber Prices Random Lengths (Great Lakes in $US)
Lumber Prices Random Lengths (Great Lakes in $US) 8 Lumber prices are the primary driver of EBITDA GREENFIRST - Confidential and privileged information 8
Slide 9: Outlook - Interest Rates and Inflation
Outlook - Interest Rates and Inflation 9 § Inflation and rapidly rising interest rates weighing heavily on North American lumber markets § COVID-19 remains a concern through the remainder of 2022 § Disruptions to modes of transportation used by the industry tightening the supply of lumber § Delays a
Slide 10: Financials
FINANCIALS PRODUITS FORESTIERS
Slide 11: Q2'22 Financial Highlights - P&L
Q2'22 Financial Highlights - P&L 11 In thousands of Canadian Dollars, except per share amounts P&L Breakdown (QTD) Q2'22 Q1'21 Q2'21 Net sales Forest products(1) $ 191,828 $ 158,084 $— Paper products $ 22,736 $ 14,684 $— Total net sales $ 214,564 $ 172,768 $— Net earnings (loss) for the period $ 29,
Slide 12: Liquidity
Liquidity 12 In thousands of Canadian Dollars, except per share amounts Liquidity Breakdown Q2'22 Q1'21 Q4'21 Cash Balance $ 74,199 $ 39,058 $ 36,173 Increased Cash Balance +35,141 +2,885 Repayments $ 12,819 $— $ 1,585 Increase in Repayments +12,819 -1,585 Total Debt Outstanding(1) $ 106,603 $ 114,4
Slide 13: Operations
OPERATIONS
Slide 14: Operational Update
Operational Update 14 § Lumber and paper shipments increased substantially in Q2'22 § Despite improvements in Q2'22, shipping continues to be impacted by disruptions to modes of transportation § Q3'22 production at the sawmills is expected to be slightly below Q2'22 levels mainly due to planned shut
Slide 15: Operational Update - Lumber
Operational Update - LUMBER 15 SHIPMENTS Stronger shipments as a result of better weather conditions and reduced COVID-19 disruption compared to Q1'21 Q2'22 Q1'22 Q4'21 Shipments (MMfbm) 142.8 114.6 173.4 PRODUCTION Increase in production Q2'22 vs Q1'22 as a result of less shutdowns and operational
Slide 16: Operational Update - Paper
Operational Update - PAPER 16 SHIPMENTS Stronger shipments as orders placed increased reflecting higher demand for paper products and due to improved logistics Q2'22 Q1'22 Q4'21 Shipments (MT) 26,629 19,391 25,039 PRODUCTION Increase in production as a result of improved efficiency and restarting of
Slide 17: 100% Canadian - Annual Lumber Production Capacity
Annual Lumber Production Capacity 17 Sawmills Annual Production Capacity (mfbm) 100% Canadian Chapleau 135,000 Cochrane 160,000 Québec Hearst 110,000 Kapuskasing 105,000 Kenora1 150,000 Ontario La Sarre 135,000 Kapuskasing Hearst Béarn 110,000 La Sarre Total Sawmills 905,000 Kenora Cochrane Béarn Ch
Slide 18: Deeply Committed to Sustainability
Deeply Committed to Sustainability 18 GreenFirst is dedicated to maintaining high standards of sustainability across our business practices § Wood stores carbon and is the only renewable major building material Green § Lumber building materials require less energy to produce and transport than Advan
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