West Fraser Senior Leadership Transition Plan

Hank Ketcham, Chairman of West Fraser’s Board of Directors, (“West Fraser” or the “Company”) (TSX and NYSE: WFG) announced today that Ray Ferris, our President and Chief Executive Officer, plans to retire on December 31, 2023.

Ray has been with West Fraser for over 26 years in increasingly senior positions culminating in his appointment as President and Chief Operating Officer in 2018 and as President and Chief Executive Officer and a director of the Company in 2019.

During his tenure as Chief Executive Officer the Company has grown substantially in sales, profits, product mix and geographic diversification. In addition, Ray has driven our strong commitment to continual improvement in our safety, environmental and people programs.

Today, West Fraser is announcing the appointment of Sean McLaren, our current Chief Operating Officer, as our new President and Chief Executive Officer effective January 1, 2024. Sean has been with West Fraser and predecessor companies for 35 years. He is a proven leader who is committed to our operating philosophy of low cost production and a prudent balance sheet which enables the Company to grow through capital improvements and strategic growth opportunities. Sean will continue West Fraser’s commitment to our strong safety, environmental and people focused culture.

West Fraser has benefited immeasurably from Ray’s strong leadership and our Board enthusiastically looks forward to our continued growth and success under Sean McLaren’s leadership.

About West Fraser

West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe. From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy. West Fraser’s products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials. For more information about West Fraser, visit www.westfraser.com.

Contact:

Robert B. Winslow, CFA – Director, Investor Relations & Corporate Development – shareholder@westfraser.com – (416) 777-4426

Source: West Fraser Timber Co. Ltd.