Alberta and Arkansas April, 2014 Forward-Looking Statements This - - PowerPoint PPT Presentation

Growth in Lumber Alberta and Arkansas

April, 2014

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This presentation contains certain forward-looking statements about potential future developments or events, in particular those relating to plans to invest additional capital, the expected timing of completion of the Bibler Brothers Lumber acquisition and the potential enhancement of current operations as a result of synergies and efficiencies. These statements are presented to provide reasonable guidance to the reader. Their accuracy and the actual

• utcomes or results of such developments or events will depend on, and are

subject to, a number of assumptions, risks and uncertainties and other factors that could affect the ability of West Fraser to achieve such outcomes

• r results or execute its business plans, including those matters described in

West Fraser’s 2013 Annual Management’s Discussion and Analysis under “Risks and Uncertainties” and may differ materially from those anticipated or

• projected. Accordingly, readers should exercise caution in relying upon

forward-looking statements and West Fraser undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by applicable securities laws. All dollar amounts are expressed in Canadian Currency unless otherwise stated.

Forward-Looking Statements

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WEST FRASER LUMBER 1990

SMITHERS HOUSTON QUESNEL WILLIAMS LAKE CHETWYND FRASER LAKE

Capacity 1,000 MMfbm

BRITISH COLUMBIA

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WEST FRASER LUMBER 2000

BRITISH COLUMBIA

SMITHERS HOUSTON QUESNEL WILLIAMS LAKE CHETWYND FRASER LAKE SLAVE LAKE BLUE RIDGE

Capacity 2,000 MMfbm (total North American)

ALBERTA

HUTTIG JOYCE

ARKANSAS

LOUISIANA

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WEST FRASER LUMBER 2005

SMITHERS HOUSTON QUESNEL WILLIAMS LAKE CHETWYND FRASER LAKE SLAVE LAKE BLUE RIDGE CHASM 100 MILE SUNDRE HINTON

Capacity 4,700 MMfbm (total North American)

BRITISH COLUMBIA ALBERTA

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TEXAS LOUISIANA ALABAMA

GEORGIA

ARKANSAS TENNESSEE FLORIDA

NORTH CAROLINA SOUTH CAROLINA

MISSISSIPPI

HENDERSON NEW BOSTON LEOLA HUTTIG JOYCE MCDAVID MAPLESVILLE OPELIKA WHITEHOUSE FOLKSTON AUGUSTA NEWBERRY ARMOUR SEABOARD

WEST FRASER LUMBER 2007

Capacity 6,000 MMfbm (total North American)

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RECENT GROWTH

BRITISH COLUMBIA

SMITHERS HOUSTON QUESNEL WILLIAMS LAKE CHETWYND FRASER LAKE SLAVE LAKE BLUE RIDGE CHASM 100 MILE SUNDRE HINTON EDSON HIGH PRAIRIE

ALBERTA

2014 2012

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RECENT GROWTH

ARKANSAS

LITTLE ROCK

MANSFIELD RUSSELLVILLE HUTTIG LEOLA NEW BOSTON (TEXAS)

2014

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• Acquisition includes:

– High Prairie sawmill (current capacity of 110 MMfbm) – Related real estate and transportation business – Timber harvesting rights with AAC of 430,000 m3 of coniferous and 21,000 m3 of deciduous timber

• Purchase price of $55.4 million plus working capital

paid in cash at closing (April 3, 2014)

• 180 employees

West Fraser intends to expand capacity to approximately 175 MMfbm through an estimated capital investment of $15 million.

ACQUISITION OF BUCHANAN LUMBER, HIGH PRAIRIE, ALBERTA

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• Western Arkansas sawmill

with a workforce of 140

• Purchase price of

US$46 million (C$51 million) plus working capital paid in cash at closing (March 7, 2014)

• Current capacity of 110 MMfbm

West Fraser is planning expansion to approximately 150 MMfbm through an estimated US$10 million (C$11 million) capital investment.

ACQUISITION OF TRAVIS LUMBER, MANSFIELD, ARKANSAS

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• Well-capitalized mill with

190 employees and annual capacity of approximately 160 MMfbm

• Purchase price of US$61

million (C$67 million) plus working capital payable in cash at closing (anticipated April 25, 2014)

• Will be West Fraser's fourth sawmill located in Arkansas

ACQUISITION OF BIBLER BROS., RUSSELLVILLE, ARKANSAS

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PRO FORMA LUMBER CAPACITY

(after planned capital expenditures at acquired mills – 2H 2015)

6,300 MMfbm LUMBER CAPACITY

U.S. South 37% B.C. 39% Alberta 24%