Vancouver, BC (News release) - Canfor Corporation and Canfor Pulp Products Inc. are pleased to announce the successful closing of the previously announced transaction pursuant to which Canfor Corp acquired all of Canfor Pulp's issued and outstanding common shares (each, a "Canfor Pulp Share") not already owned by Canfor Corp and its affiliates pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement").

Under the terms of the Arrangement, each former holder of Canfor Pulp Shares (each, a "Former Shareholder") had the option to receive for all Canfor Pulp Shares held by such Former Shareholder immediately prior to the effective time of the Arrangement (i) 0.0425 of a common share in the capital of the Canfor Corp ("Canfor Corp Shares") per Canfor Pulp Share (the "Share Consideration") or, (ii) $0.50 in cash per Canfor Pulp Share (the "Cash Consideration" and together with the Share Consideration, the "Consideration").

In connection with the closing of the Arrangement, the Canfor Pulp Shares are expected to be delisted from the Toronto Stock Exchange as of the close of market on March 18, 2026, and Canfor Corp intends to cause Canfor Pulp to apply for an order to cease to be a reporting issuer under applicable Canadian securities laws.