Western Forest Products Inc. Announces Effective Date of Share Consolidation

VANCOUVER, British Columbia, July 24, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today that, further to its news release dated July 1, 2025, the effective date for the consolidation of the Company’s common shares on the basis of one (1) post-consolidation common share for every 30 pre-consolidation common shares (“Share Consolidation”) is July 24, 2025.

The Toronto Stock Exchange (“TSX”) has approved the Share Consolidation, and the Company’s common shares are expected to commence trading on the TSX on a post-Share Consolidation basis at market opening on July 28, 2025.  

The common shares will continue to be listed on the TSX under the symbol “WEF” on a post-consolidation basis under a new CUSIP and new ISIN. No fractional common shares will be issued as a result of the Share Consolidation. Any fractional interest in common shares that is less than 0.5 of a common share resulting from the Share Consolidation will be rounded down to the nearest whole common share, and any fractional interest in common shares that is equal to or greater than 0.5 of a common share will be rounded up to the nearest whole common share.

As a result of the Share Consolidation the number of issued and outstanding common shares of the Company will be reduced from 316,745,557 pre-consolidation common shares to approximately 10,558,185 post-consolidation common shares, subject to adjustments for rounding. Proportionate adjustments have been made to the Company’s outstanding stock options and exercise prices, restricted share units, performance share units and deferred share units in accordance with the terms and conditions of the respective plans under which they were issued.

Computershare Investor Services Inc. (“Computershare”), the Company’s transfer agent, will act as the exchange agent for the Share Consolidation. The Company’s registered shareholders holding their common shares in certificated form will receive a letter of transmittal from Computershare in respect to the Share Consolidation, which each registered shareholder will need to sign and complete. If a registered shareholder does not receive a letter of transmittal in connection with their common shares, copies of the letter of transmittal will be available on and the Company’s . The letter of transmittal will contain instructions to registered shareholders on how to surrender the certificates representing their pre-consolidation common shares and authorize Computershare to issue a direct registration advice(s) (DRS) representing their post-consolidation common shares. The Company’s registered shareholders whose common shares are represented by a DRS statement will not be required to complete and sign a letter of transmittal, and a DRS statement representing their post-consolidation common shares will automatically be issued to such registered shareholder by Computershare.

Non-registered shareholders who hold their common shares through an intermediary such as a bank, trust company, securities dealer or broker should note that these intermediaries may have their own procedures for processing the Share Consolidation which may differ from those described above for registered shareholders. Non-registered shareholders who have questions should contact their intermediary for more information.

Further details on the Share Consolidation are contained in the Company’s Management Information Circular available on and the Company’s .

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 780 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities. The Company sources timber from its 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.

Forward-looking Statements

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward-looking statements and can be identified by use of words such as “believes”, “expects”, “will”, “plans”, “estimates” and “potential” and similar references to future periods. Forward-looking statements in this press release include, but are not limited to, statements relating to our current intent, belief or expectations with respect to: the trading of the post-consolidation shares on the TSX and the expected timing thereof, the number of post-consolidation shares following the Share Consolidation, and the timing and process for issuing post-consolidation shares. Although such statements reflect management’s current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual results or performance may materially vary. Many factors could cause our actual results or performance to be materially different, including factors referenced under the “Risks and Uncertainties” section of our MD&A in our 2024 Annual Report dated February 13, 2025.

For further information, please contact:

Glen Nontell

Chief Financial Officer

(604) 648-4500