New Collective Agreement Ratified by United Steelworkers Employees

Press Release

Vancouver, British Columbia – Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that its hourly employees represented by United Steelworkers Local 1- 1937 (“USW”) have voted to ratify a new collective agreement, replacing the collective agreement that expired on June 14, 2024. The new six-year collective agreement has a retroactive effective date of June 15, 2024, will expire June 14, 2030 and provides for the following general wage increases:

Year 1 4%

Year 2 3%

Year 3 3%

Year 4 3%

Year 5 3%

Year 6 Greater of 3% or the rate of inflation

The new agreement also includes enhancements to certain benefits and terms of mutual interest for the USW and the Company. It will apply to the roughly 1,000 members of Western’s hourly workforce represented by the USW, as well as those third-party contractors who adopt Western’s collective agreement.

Commenting on the positive ratification vote, Western’s President and CEO Steven Hofer said: “We are pleased that our USW-represented team members have reviewed the terms of the new collective agreement and found it meets their interests and needs. That the negotiating teams for the USW and Western were able to build one of the longest-term agreements in the history of the BC Coastal forest sector is a testament to their hard work, respectful engagement and focus on common goals. The BC forest sector is facing many challenges, and with this agreement successfully concluded, we look forward to working together with our union colleagues to build a brighter future for our company.”

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 885 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities. The Company sources timber from its private lands, long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Investor Contact:

Glen Nontell
Chief Financial Officer
(604) 648-4500
Media Contact:

Babita Khunkhun
Senior Director, Communications
(604) 648-4562

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