For Generations
2022 Sustainability Report

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix2022 Sustainability Report

Contents

Introduction

3

Our Roots

4
5
6
9
10
12

Message from Our President and CEO
Chief Environment and Sustainability Officer Q&A
Sustainability at West Fraser
2022 ESG Highlights
Map of Operations
Product Circularity

14

The Businessof Sustainability

16
17

Our Values
Materiality Assessment

18
18
20

Governance
Our Governance Framework
Our Sustainability Governance Framework

22
23
26
31
33
34
36
38

Environment
Climate Action and Adaptation
Sustainable Forestry
Natural Carbon Cycle
Forest Regeneration
Protecting our Natural Resources
Biomaterials, Residuals and Waste
Products and Innovation

40
41
43
46
48
50
52
57

SocialHealth and Safety
People Development
Recruitment and Retention
Diversity, Equity and Inclusion
Employee Wellbeing
Meaningful Indigenous Relations
Community Engagement

Governance

Environment

SocialConclusion

62

Conclusion

64

Appendix

64
68
69
78
86
88
89

Consolidated SASB and GRI Index
Governance
Environment
SocialAssurance Letter
Partners, Associations and Memberships
Forward-Looking Statements

Appendix

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2022 Sustainability Report

Introduction

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SocialConclusion

Appendix

Our Roots
In this year’s report, For Generations, we share the continued evolution of our culture ofsustainability. West Fraser was founded nearly 70 years ago in Quesnel, British Columbia,
by three brothers—Sam, Bill and Pete Ketcham—who pooled their resources to buy
a small planing mill with 12 employees. From our early days in 1955 to our position
today as one of the world’s largest producers of sustainable wood-based building
products, sustainability remains a guiding principle across our business of approximately
11,000 employees with an operating footprint on two continents.
From the forests where we harvest timber to thesurrounding communities where we live, workand play, our business has always recognized theinterconnectedness of the people, the environment,
our collective wellbeing and the shared prosperity thatcomes by doing the right thing.

As we have grown, building new relationships thatdiversify, expand and strengthen our business, we havesought out people and opportunities that align with
our values. We are working to explore new possibilities
for today’s generation and the next for our employees,
communities and the wood products industry.

“More than anything, I want to give
all sorts of opportunities to thenext generation. I want them to be
proud of the success we’ve had.”
Hank Ketcham, Chair of the Board of Directors

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Introduction

Message from Our President and CEO
Now more than ever, the world needs sustainable,
renewable building products that sequester
carbon in the fight against climate change.
Sustainably sourced timber and the products
derived from that resource are truly a natural climate
solution. As the leading manufacturer of building
products in North America and Europe, West Fraser
has an important role to play in shaping the built
environment and helping combat global warming.
At West Fraser, sustainability is more than just acommitment; it is the central principle upon which
our business was founded, nearly 70 years ago.
Sustainability principles guide our activities on theland base and inform the decisions we make inoperating our business.

Sustainability leaders listen—to their employees,
stakeholders and customers—and then evolve theirbusinesses to reflect what they hear. In 2022, we sought
input, we listened, and distilled what we learned into
a set of priority areas for action. The results of theprocess will help guide our sustainability efforts over the
short and long-term across the company.
We are making progress toward achieving ourgoals. In February 2022, we became one of the first
Canadian forest products companies to commit
to reducing our scope 1 and 2 GHG emissions by
46.2% and scope 3 by 25%, by 2030. In February2022, the Science-Based Targets Initiative (SBTi)
reviewed our proposed pathways and validated ourtargets. Ambitious but credible targets, with valid,verified, achievable pathways to achieve those targets,will continue to be a hallmark of our approach tosustainability.
Last year brought new focus to our biodiversity,
water consumption and waste management goals.
Advancements in these areas included supporting
research to better understand forest resilience in achanging climate by establishing additional water
efficiency goals.

To ensure our work aligns with international
expectations we also joined the United Nations Global
Compact, solidifying our commitment to the UN
Sustainable Development Goals (SDGs) which guide ourwork in every community where West Fraser operates.
2022 was also a period of introspection for West Fraser
as we began to develop our own Social Performance
strategy. This work includes a strong focus on people
and company culture, reflecting not only our long-heldvalues but a commitment to a safer, healthier, morediverse, equitable and inclusive workforce. We remaincommitted to transparency and have expanded ourdisclosure to include important new social metrics.
As we look back, it is clear that 2022 was anotherimportant year furthering our sustainability objectives.
I am excited about 2023 and the opportunities that
we have to further engage our diverse and talented
workforce in helping shape our future. The path tobecoming a sustainability leader is both challenging andrewarding for every person at West Fraser.
Thank you for taking the time to read West Fraser’s
Sustainability Report.
Ray Ferris
President and CEO, West Fraser

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2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Chief Environment and Sustainability Officer Q&A

Sustainability in Action
For Shenandoah Johns, our Chief Environment
and Sustainability Officer, sustainability andtransformation often begin with a vision statement,
ambitions, and resulting strategies and plans.
But she finds that its greatest expression is in theeveryday practice of our employees.

Q.

What does sustainability in action at West
Fraser look like for you?

A.

For me, there is deep satisfaction in the little
things that demonstrate that sustainability has
deep roots at West Fraser. That shows up when I
walk around a mill and a leader picks up garbage
or debris and places it in the correct recycling
bin. It shows up when a teammate is quiet, and acolleague pulls them aside and checks in to makesure they are ok. It shows up when someone has
an unpopular opinion, and the people around thetable are curious enough to explore where theidea comes from—without diminishing the person
who shares it. It shows up when we celebratefinding beneficial uses for products that others
may consider waste.

Q.

Where do you see sustainability going for acompany like West Fraser, and for the wood
product industry?

A.

I believe managed forests and the wood productindustry are a material solution for solving climatechange. One of the things I learned quickly is that
our forestry professionals are deeply committed
to healthy and sustainable forests. Simply put,their entire jobs are focused on a healthy earth.
In addition, if forests are in decline, we are outof business. So from a pragmatic businessperspective, we need growing and healthy
forests forever.

Q.

In 2022, West Fraser signed on to the
UN Global Compact. Why was this bold step
important for West Fraser?

A.

For many years, we have relentlessly pursued
operational excellence, being comfortable staying
off the stage and instead, putting our heads
down with a focus on our values and priorities.
This decision was an important signal because
we are making it clear that we care about what ishappening globally. We understand our role as a
global leader to work on sustainability issues that
require many hands to make an impact.

Q.

What gives you hope for the future?

A.

The youth of today are truly incredible. They areaware and have learned about the impactof their actions on the environment and aredemanding change that we haven’t seen forgenerations. I love that they are curious andchallenge the status quo. I am seeing them set
expectations around inclusion and belonging ina way that could strengthen our communities
and bring people together. I also think thatthrough the COVID pandemic they experienced
in a profound way that it takes many to address
tricky problems; complex problems require
corporations, governments, communities andpeople of all ages and in all walks of life to cometogether to make a difference and move forward.

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Introduction

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Environment

SocialConclusion

Appendix

Sustainability at West Fraser

A Growing Legacy
The world needs sustainable, renewable building
materials that sequester carbon in the fight against
climate change and we are well-positioned toprovide them. Everything we do is guided by ourcommitment to environmental stewardship—
surveying ecosystems, reimagining how we power
our mills, optimizing the value of our resources
and contributing to healthy, inclusive andthriving communities.

We work together to uphold our Environment Policy commitments:• Comply with all environmental legislation, regulations

and industry standards that affect our activities• Progress a culture of operational excellence andcontinuous improvement• Careful and trusted stewardship of all resources by:— Promoting the efficient, responsible andaccountable use of land, energy and water
resources and the reduction of greenhouse gas
emissions throughout our business— Advancing the long-term resiliency of
biodiversity and ecosystems— Preventing pollution and reducing
emissions and waste• Design, plan, operate and maintain facilities andactivities to prevent environmental impacts in amanner that considers the needs of the communities
in which we operate• Respond quickly, cooperatively and effectively toincidents resulting from our operations• Establish performance and improvement objectives

and targets to measure, monitor and assess ourresource efficiency, environmental processes
and performance• Conduct appropriate reviews and evaluations

at all our operations• Proactively raise awareness of the role forests

and renewable forest products have in alow‑carbon economy and a clean, healthy earth
for future generations• Foster positive and transparent relationships with

our stakeholders and rights holders including
communities, employees, governments, Indigenous
Peoples, non-governmental organizations, investors,
industry associations and academic institutions
on material environmental matters, joint-solutions
and best practices• Innovate to find better ways to plan and execute

our work, strengthen our relationships and steward
responsible use of resources

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2022 Sustainability Report

In 2022, we took our commitment to sustainability
a step further by signing onto the United Nations Global
Compact (UNGC), which outlines Ten Fundamental
Principles in human rights, labour, environment andanti-corruption. These principles, along with the
17 United Nations Sustainable Development Goals(UN SDGs) shape our strategy, guide our actions
and provide the global framework to advancelocal performance.

Introduction

Implementing sustainable harvest strategies for avariety of products and beneficial-use products,
including renewable energy, helps us to decarbonize.
We eliminate waste and pollution through upstream
interventions, design products to use raw materials at
the highest value possible throughout their lifetimes andregenerate natural ecosystems. This is how we create
value in the circular economy.
This report highlights the exceptional contributions
made by our employees towards creating a positive
impact on society and the environment. We pride
ourselves in our unwavering commitment to being a
responsible and sustainable organization, supporting
our employees’ growth and giving back to thecommunities we serve. We firmly believe that ourefforts today will pave the way for a better tomorrow for
generations to come.

Governance

Environment

SocialConclusion

Appendix

UN Global Compact
The Ten Principles of the United Nations
Global Compact are derived from:• The Universal Declaration of Human Rights• The International Labour Organization’s

Declaration on Fundamental Principles andRights at Work• The Rio Declaration on Environmentand Development• The United Nations Convention
Against Corruption

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Appendix2022 ESG Highlights
Environment

million seedlings
planted in our Western
Canadian managed
forest areas

100%
99%
we use 99%
of every log
we process

SocialGovernance(USD)
invested inour communitiesof our Board of Directors
are women

Set a goal to achieve

Enhanced ourDiversity, Equity& Inclusion (DEI)
Policy and Strategy$4.3M 45%

Progressive AboriginalRelations (PAR) Goldlevel by 2030

50%

certified responsible
fibre sourcing andcertified sustainable
forest managementfor our managed
forest area

One of the first Canadian forestry
companies that committed to the
Science-Based Targets Initiative (SBTi)

reduction in the mostserious life‑altering injuries
over the last year

24%of all employees self-identify
with an underrepresented
racial or ethnic identity

Completed an
Environment, Social,
Governance (ESG)
Materiality Assessment

First Canadian forestry
company to join the

UnitedNations
Global Compact
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2022 Sustainability Report

Introduction

Map of Operations

Governance

LocationsWest Fraser is a diversified wood products company with more than 60 facilities
in Canada, the United States, the United Kingdom and Europe.

Environment

SocialConclusion

AppendixEngineered Wood Product Mills

Corporate Offices

OSB x 14

MDF x 3, Particleboard x 2 & Furniture x 1

LumberPlywood x 3

Veneer & LVL x 2

Pulp & Newsprint

North America

BritishColumbia

Alberta

Ontario

QuebecEdmonton

QuesnelSt. Laurent (R&D)

Minnesota
Vancouver

Tennessee
MemphisArkansas

TorontoNorth
Carolina
South
Carolina

Alabama

EuropeUnitedKingdom

Cowie

Georgia

Texas

Mississippi
Louisiana
Belgium

Florida10

2022 Sustainability Report~11,000
Employees Worldwide

34
Lumber Mills

6
5

Renewable
Energy Facilities
Pulp &
Newsprint Mills

Introduction

GovernanceEngineered Wood Products (EWP)

Environment

SocialConclusion

Appendix

LumberNorth America

U.K. & Europe

Locations34

Locations

19

4

SPF

3.1 Bfbm

OSB

7,360 MMsf 3/8”

1,515 MMsf 3/8”

SYP

3.6 Bfbm

MDF

250 MMsf 3/4”

380 MMsf 3/8”

Total

6.7 Bfbm

Plywood

770 MMsf 3/8”—

LVL

3.0 MMcf—

Pulp & Paper

Particleboard—

565 MMsf 3/8”

Locations

5

NBSK

170 Mtonnes

UKP

250 Mtonnes

BCTMP

690 Mtonnes

Newsprint

135 Mtonnes

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Appendix

Product Circularity

Resource Utilization

Beneficial-Use ProductsWest Fraser supports the circular economy, which is designed toeliminate waste and pollution and keep products and materials inuse. The trees we harvest and the products we make are balanced byconserving and regenerating the ecosystems where we work.

We use 99% of every log we process. Lumber accounts
for the largest use, but we also make products fromwood chips and sawdust. Other applications include
mulch, animal bedding, road base, fertilizer, energy andsoil improvement.

Versatile and durable, wood can bedisassembled and reassembled into otherproducts or buildings.

Carbon Capture

Energy Efficient

Trees naturally capture carbon
and that carbon can also be
stored in wood products.

Of all major building materials,
wood requires less energy
to harvest, transport,
manufacture, install,
maintain and recycle.

Sustainable Harvest

Growing Forests, Forever

Renewable Energy

Climate-Smart Construction

We manage 8.2 million hectares offorests and harvest less than 1% of
this area annually.

Through planting and natural regeneration,
we reforest areas that we harvest on
managed forestlands.

Most of our mills generate renewable energy,
which is used on-site, from biomass material
recovered from our manufacturing.

Wood products are a natural, renewable
and sustainable building material that store
carbon throughout its lifetime.

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Appendix

The Business of Sustainability
Sustainability is core to our business, embedded in our overall growth strategy, andcontributes to our governance and decision-making processes. To reach our leadershipgoals, we recognize the importance of listening to, and learning from, those who are affectedby our business, as they greatly impact our future. From our value chain partnerships tothe adoption of globally-recognized frameworks and standards, we are on a path to ensure
our business meets the needs of this generation, and the next, while honouring the past
generations that shaped our roots.
This disclosure has been informed by applicable
Sustainability Accounting Standards Board (SASB)
requirements and is complemented with the Global
Reporting Initiative (GRI). Our climate actions andrisk analysis align with the Task Force on Climaterelated Financial Disclosures (TCFD) and in 2022
we joined the Taskforce on Nature-related Financial
Disclosures (TNFD) Forum to understand how ourgovernance processes and priorities can reflect
those emerging requirements. We participate innumerous engagements and surveys with our Industry
Associations, memberships, customers and throughnotable initiatives such as CDP (formerly the Carbon
Disclosure Project), sharing our performance related toclimate change, forests and water security.

We have spent the past year collaborating to develop
long-term, credible and transparent environmental,social and governance ambitions, goals and targets
to drive progress in our sustainability efforts.
We also conducted a materiality assessment totest our strategy and engage with a broad rangeof stakeholders, both within our organization andexternally. A range of external stakeholders were
engaged, including rights holders and Indigenousorganizations. We focused on advancing our value
chain performance, building the foundations for
improved governance policies, and achieving
certification with EcoVadis, a network with over 10,000
companies around the world, including a number of our
key customers. We continued our partnerships with the
Science-Based Target Initiative (SBTi), the CanadianCouncil of Aboriginal Business (CCAB) and became
the first Canadian forestry company to join the United
Nations Global Compact (UNGC).

We continue to partner with, and pay attention to,
our rankings with Investor Ratings Agencies, including
the Institutional Shareholder Services (ISS), S&P
Global, Morgan Stanley Capital International (MSCI),
Sustainalytics and CDP. In 2022, we made significant
gains through our disclosure and performanceassessments, and we are working to continuously
improve, because we know our business relies on it.
Our people, neighbours and future generations rely on
it. We are dedicated to the business of sustainability.

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Photo Credit: Llyod Sutton/Alpha Presse15

2022 Sustainability Report

Our values
have served as
a compass forour business fornearly 70 years
and continue tohold relevanceas we growand innovate.

Introduction

Governance

Environment

SocialConclusion

Appendix

Our Values
Integrity, Humility, Teamwork,
Frugality, Innovation,
Competitiveness, Respect

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Materiality Assessment

Determining What Matters Most
In 2022, we built on our previous year’s Materiality Assessment to listen to what matters most toa broader range of internal and external stakeholders and Indigenous rights holders. This processincluded identifying a robust list of ESG topics and stakeholders, conducting broad outreach andengagement, assessing survey responses and sharing our results with our leaders and decision
makers. The results provided key insights and understanding to further evolve our sustainability efforts
over the short and long-term.

1

Develop Inputs
Our materiality assessment was informed by prior materiality efforts and included the perspective ofinvestors by considering topics raised in globally recognized reporting standards (SASB and GRI) and
ESG rating agency feedback.
• Participants were selected from across our geographies and operations• Internal stakeholders represented a spectrum of our Board of Directors, Executives,
management and subject matter experts• External stakeholders included a range of groups including local communities, rights holders,customers, certification bodies, investors and shareholders

2
3
4

Engage Stakeholders
During our engagement phase, we conducted robust stakeholder engagement with both internal andexternal stakeholders to understand their respective sustainability priorities, opportunities and risks.
Through surveys, we engaged with over 100 internal and 80 external stakeholders to identify the ESG
topics that are most critical to our stakeholders and business.

Report on Findings
Insights from survey respondents were weighted by stakeholder group, consolidated to informa sustainability materiality matrix and indicated which topics are currently material to us. We also
considered disaggregate views of sustainability topics by stakeholder group or jurisdiction.

Material Topics
The results, summarized here into the
top strategic material topics and focus
areas, provide a path for growth that we
believe will enable us to become a leader
in business with a purpose, modelling how
a multinational forest products company
can strive for, and attain, the highest
levels of responsibility, accountability
and sustainability.
Governance• Business Ethics and Transparency• Cybersecurity and Data Management

Environment• Compliance Management• Sustainable Forest Management• Energy Use and Greenhouse Gas

Emissions (GHGs)• Climate Action and Adaptation• Air Quality
Social• Health and Safety• Employee Wellbeing• People Development
Refine and Confirm• Community Engagement

In 2022, we established our ambition statements for material environment, social and governancepriorities to further support our goal and target setting process.

• Meaningful Indigenous Relations• Human Rights and Labour Relations

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2022 Sustainability Report

GovernancePeople at all levels of our business are working
to embed sustainability practices in theireveryday operations and business decisions.
Strong governance through leadership, committees
and working groups, enables us to strategize,
implement and measure our progress toward oursustainability ambitions.

Ambition Statement
We are committed to the highest expectations andstandards for business ethics and governance with ourpeople, suppliers and customers.

Material Topics• Business Ethics and Transparency

Introduction

Governance

Environment

SocialConclusion

Appendix

Our Governance Framework

Embedding Sustainability
Our Board of Directors incorporates sustainability considerations into businessdecisions while overseeing the company’s management, strategy, long-term planningand enterprise risk management.
The board oversees identifying, monitoring, and managing our principal risks, including
environment, social and governance (ESG)-related risks. We have defined governancestructures to ensure responsible development, transparent disclosures, performancestewardship of sustainability matters (including ethical conduct, human rights, environment,
diversity, equity and inclusion), and priorities embedded within our leadership policies.
• Appointed our Chief Environment and Sustainability Officer (CESO), who is accountable forworking with our divisions and functions to establish, embed, and steward environmental
and sustainability priorities throughout the organization. This role focuses on operational
excellence and compliance; managing environmental, social, and strategic risks andopportunities; and advancing our sustainability strategy• Created the Vice President, General Counsel position, who is responsible for corporate

governance, legal affairs and compliance oversight for West Fraser• Updated our Antitrust Compliance Guide and provided training to salaried employees

UN Sustainable Development Goals (SDGs)• Identified the opportunity to advance our governance by developing standalone policies

focused on Human Rights and Anti-Bribery, Anti-Corruption and a new Supplier Code of
Conduct. These are underway in 2023

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SocialConclusion

Appendix

Environment and Climate
Change Governance
Our Board of Directors, Chief Executive
Officer and Executive Leadership team arecommitted to supporting our sustainability
strategy through active engagement andgovernance to achieve our goals.
Environmental executive responsibilities
are as follows:
Vice President, Canadian Woodlands
Oversees compliance with Canadian forestry
regulations and certification; the practice andmaintenance of sustainable forest management;
strategic issues regarding forest management‑related
environment performance; climate risks andopportunities; and forest carbon
Senior Vice President of Western Canada,
Wood Products and Europe
Oversees manufacturing-related environmental
compliance, renewable energy development,
energy reduction initiatives and greenhouse gas
emission management
Senior Vice President, Corporate andGovernment Relations
Oversees the preparation of this report and regularly
engages with federal and provincial governments
on climate policy and the Company’s environmental
performance
Chief Environment and Sustainability Officer
Oversees our sustainability and environmental strategy,
including GHG reporting and portfolio opportunities,
and assists operations in implementing environmental,
climate and carbon policies and regulations that may
affect the Company or manufacturing facilities
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Appendix

Our Sustainability Governance Framework
Our Board of Directors

Audit
Committee

Governance& Nominating
Committee

Human Resources& Compensation
Committee

Health, Safety& Environment
Committee

Chaired by Independent
Board member

Chaired by Independent
Board member

Chaired by Independent
Board member

Chaired by Independent
Board memberWest Fraser
Executive• Financial oversight• Internal control overfinancial reporting• Corporate governanceframeworks• Ethical conduct• Director succession
planning• Enterprise risk management• Board effectiveness andBoard, Committee andDirector assessments• Whistleblower reporting
system and complaints
handling• Board diversity• CEO and executive
succession planning• Succession planning,
talent development andmanagement

SafetySteering
Committee

ClimateActionForum

President’s
Diversity& Inclusion
Council

Health& Wellness
Steering
Committees

Human
Resources
Lead Team• Environmental
and sustainability
stewardship andobjectives• Employee andcontractor healthand safety

Reporting• Integrity, fairness andcompleteness of our
financial statements• Executive compensation

Sustainability
Steering
Committee

Setting Goals

Sustainability
Steering Committee• Potential conflicts of interest

Policies
Our policies help guide our people to make decisions that reflect
our values and support our strategies. O ur social, environmental andbusiness practices are governed by the principles and establishedrequirements within our suite of policies, with training for employees,
to ensure conformance and measure performance.
* Policies that are currently in progress• Antitrust Compliance Guide• Corporate Governance Policy• Indigenous Peoples’ Policy• Board Diversity Policy• Diversity, Equity & Inclusion Policy• Majority Voting Policy• Code of Conduct• Environment Policy• Safety Policy• Corporate Disclosure Policy• Equity Holding Policy• Securities Trading Policy• Human Rights*• Anti-Bribery, Anti-Corruption*• Supplier Code of Conduct*

Business & Operational Units

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Environment
We consider environmental excellence afoundational component of operational excellence.
Research, innovation and continuous improvement
are helping us reduce emissions and unlock the full
benefit of the resources in our value chain.

Ambition Statement
To achieve product circularity and competitive
advantage, we are committed to:• Collaboration and continuous improvement• Demonstrating our environmental performancethrough transparent and credible data

• Harnessing innovation to manage

environmental impacts

Material Topics• Climate Action and Adaptation, Energy Use and GHG

Emissions, Residuals and Waste, Sustainable Forest
Management, Water Use and Effluent

UN Sustainable Development Goals (SDGs)

Goal Areas & Associated Targets
Performance
Tracking

Environmental
Compliance

2023

Implement standardized environmental definitions, risk assessment and identify
required environmental data

2024

Implement standardized data collection systems and expectations (inventory
management plans) across all media and divisions in order to establish baseline
data for improvement for all operations

2024

Reduce reportable environmental events by 10%

2030

Reduce reportable environmental events by 50%

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Appendix

Climate Action and Adaptation

Striving for Leadership
In 2022, we announced our participation in
the Science-Based Targets Initiative (SBTi),a collaboration between CDP (previously the
Carbon Disclosure Project), the United Nations
Global Compact (UNGC), World Resources Institute(WRI) and the World Wildlife Fund for Nature(WWF). In early 2023, we achieved validation of ourgreenhouse gas (GHG) emission reduction targets
across all three emissions scopes.
Our climate strategy is focused on measurement,
evaluation and the prioritization of actions
to decarbonize.

As part of our climate change action plan, we aim to:• Reduce Scope 1 GHG emissions, direct emissions

that are under West Fraser’s operational control andScope 2 GHG emissions, indirect emissions frompurchased energy, by 46.2% by 2030, using 2019as our baseline year. These reductions align with ascenario that limits global temperature increases to
1.5°C compared to pre-industrial levels.

• Reduce scope 3 GHG emissions, all other directemissions within our value chain, by 25% by 2030,
using 2020 as our baseline year. Scope 3 GHG
reductions align with a scenario that limits global
temperature increases to below 2°C, compared topre-industrial levels.

February 2022
SBTi committed

Developing our integrated carbon management andreduction portfolio is a priority. Our Carbon Portfolio
Manager provides governance and stewardship toimplement our GHG reduction plan. We established aninternal price for carbon to align our performance with
our SBTi commitment and continue incorporating it into
our capital allocation and business decision-making
processes. Working with our industry associations andpartnerships, we adopt best practices and globally
recognized methodologies for scenario analysis alignedwith the Task Force on Climate-related Financial
Disclosures (TCFD).

April 2023
Scope 1, 2 and 3 emissions
data and methodology
validated by SBTi

Prepared for SBTi partners validation and submission

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2022 Sustainability Report

93.6M
GJ of production-related
energy consumption

Introduction

Governance

Environment

SocialConclusion

Appendix

Scope 1 and 2 Energy Use

Scope 3 Value Chain

The processing of trees into solid wood, pulp andpaper creates beneficial by-products that are valuable
energy sources with 73% of our 93.6 million GJ ofproduction‑related energy consumption createdfrom waste bark, waste wood, black liquor andmethane captured from effluent treatment processes.
Natural gas, grid-supplied electricity and other liquid
fuels supply the remaining 27% of our energy needs.
In addition, the production of heat and electrical energy
on our sites using biomass and other renewable fuelsaccounted for an additional 5.63 MT in biogenic carbon
emissions. In accordance with the Greenhouse Gas(GHG) Protocol, CO2 emissions from biogenic sources
are accounted for separately.

We established a cross-functional team to develop
an indirect emissions reduction roadmap across ourvalue chain. This team focuses on Scope 3 inventory
quantification methodologies and reduction strategies
for transportation, logistics and procurement of
input materials. This work is governed through our
Climate Action Forum and is accountable for creating
a culture of resource efficiency and stewardship of
our SBTi target.

Energy Consumption and Processing
73% Waste Bark, Waste Wood, Black Liquor, Methane
27% Natural Gas, Grid-Supplied Electricity,
Other Liquid Fuels

Forestry and Other Land UseEmissions and Removals
We have catalysed our efforts to advance land-based
emissions calculations, aligning with the GHG Protocol’s
Land Sector and Removals Guidance. Our approach will
explore the completeness and reliability of our forest
inventories and procured wood traceability. We expect
to complete a land-based emissions inventory by 2024,
along with a reproducible process to conduct thiscalculation annually.
By understanding our land sector emissions we canassess our net carbon impact. This information will help
us better evaluate the sustainability of our operations
and make informed decisions related to monitoringland-sector emissions. This will help us assess theimpact of different forestry techniques and strategies
on our overall carbon balance, minimize our emissions
and improve carbon sequestration to optimize forest
management effectiveness as a tool for climatechange mitigation.

242022 Sustainability Report

SBTi

One of the first
Canadian forestry
companies tocommit to sciencebased emission
reduction targets
through SBTi

$50M

We expect to invest ~$50M USD
annually in decarbonization
efforts, with an estimated total of$400M USD invested before 2030

Introduction

100% renewableelectricity at our
European and
U.K. operations$10M
Grant funding awarded
to assess biogenic carbon
capture and sequestration

COLLABORATE
Partner on the DIVERSE project—Assessment of
Functional Complex Network Approach to Forest
Management. This Pan‑Canadian project aims to ensure
forest management approaches ensure functional
diversity and connectivity to foster social acceptability
and forest resilience to climate change

19,800 tCO2e

Our U.S. Operational Excellencepilot program resulted in approximately
19,800 tCO 2e reduction, ~30% lessnatural gas consumed and overall
electrical usage decreasing by 10%

Governance

Environment

SocialConclusion

Appendix

Reaching our SBTi Goals
Investing in new energy-efficienttechnology and equipment:• Thermal heating system upgrades in our Grande

Prairie, Alberta OSB mill decreased reliance onnatural gas, reducing associated CO2 emissions
by 87%, while upgrades to dryer fans andthermal oil pumps at our Jefferson OSB mill,
reduced emissions by 20%• Alberta Plywood EWP replaced two aging

dryers with energy-efficient units reducing
natural gas emissions by 6%• Alberta lumber mills optimized their biomassenergy generation plants, reducing natural
gas consumption by 20%. Additionally,
U.S. lumber mills decreased electricity
consumption by 19% through energy-efficientequipment upgrades

Re-energizing our operations:• New Boston and Jefferson mills collaborated

to improve environmental performance,energy management and utilization of biomass
residuals. Jefferson reduced its natural gas
consumption by 25% year over year, while
New Boston contributed to improving beneficial
re‑use of waste material• Our European mills procured 100% of theirelectricity from renewable sources

25

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Sustainable Forestry

Our Passion and Profession
We believe that sustainable forest management is anapproach to caring for forests, that allows for theirenvironmental, social, cultural and economic value
to be maintained.
Where we manage forests, we are 100% certified to
the voluntary SFI® Forest Management Standard andsubject to stringent regulation by federal, provincial,state and local authorities. This includes industryspecific environmental regulations relating to fish andriparian management, reforestation, soil and water
management and protecting endangered species andcritical habitats.
We directly manage approximately 8.2 million hectaresof public forestland in Canada. We have government
permits and licenses for a total Annual Allowable
Cut of 12.5 million cubic metres. We adopt anecosystem‑based forest management approach that
includes risk management, restoration and renewal of
habitats and protection of sensitive sites. Our forestry
professionals and biologists work together to monitor
and manage the interconnected elements essential for
healthy and resilient ecosystems.

To demonstrate our commitment to biodiversity and land management, we:• Strive to ensure our working forests are regenerated for the future• Aspire to positively contribute to the enhancement of biodiversity
Goal Areas & Associated Targets
Forest Policy

2023

Review and revise our Sustainable Wood Procurement and Land Use Policies

Forest RoadManagement

2025

Improve the B.C. forest road inventory and ensure no net increase in road disturbance

Biodiversity

2023

Establish a West Fraser Biodiversity Community of Practice2024

Develop a company-wide Biodiversity Policy and associated improvement objectives

2026

Increase landowner outreach and seedling distribution programs in procurement areas withprojected higher risk of conversion of land to non-timber use

Reforestation

Establish a B.C. forest road inventory reduction target that decreases unused roads
under West Fraser tenure

262022 Sustainability Report“People in our communities
need us to care. We arecommitted to listening to
the issues that they careabout and building bridges
to allow for understanding
and action.”
Shenandoah Johns, Chief Environment
and Sustainability Officer

Introduction

Governance

Environment

SocialConclusion

Appendix

Biodiversity

Biodiversity Restoration

Managing for biodiversity is a core principle of oursustainable forest management approach. We arecommitted to advancing biodiversity awareness,ecosystem education and incorporating the cultural
importance of natural landscapes and forests within
our value chain.

Temporary and permanent forestry roads
increase access for other forest users andalter natural wildlife migration corridors
creating challenges for biodiversity.
We mitigate impacts by monitoring andmanaging the total road length needed toaccess timber, restoring temporary roads
after use, improving and reusing historicalroads where available and reducing
overall road density on forestlands.

We adhere to sustainable forest management androad construction practices throughout Canada.
This includes managing and mitigating direct andindirect impacts of our operations on biodiversity
through applying standard environmental operating
and field procedures and considering traditional
knowledge of the land. These practices are includedin the management plans approved by governments.
We manage the direct and indirect impacts of ouroperations on biodiversity through environmental
operating and field procedures.

At-risk species and ecosystems are further
protected through wildlife monitoring, habitat
management and avoiding road construction insensitive locations.

Responsible Fibre Sourcing
We complement our sustainable forest management
practices in western Canada with sustainable sourcingof timber resources. We do not manage any forestland
in Ontario, the United States, Europe or the United
Kingdom, where the fibre for our mills is responsibly
sourced from private landowners or public lands
managed by others. We promote sustainable forestry
across our operations and across diverse forest
ownership and management types.

27

2022 Sustainability Report

Introduction

Mitigating Climate Risk

• Reduced access to fibre due to increased

tree mortality/damage (wildfire, extreme
weather, drought, etc.)• Transport disruption due to extreme
weather events and fire
• Risk to wood inventory due to fire or
reduced forest access• Unplanned mill curtailments due to extreme
weather or fire damage/power disruption

SocialConclusion

Appendix

The Climate Risk and Opportunity Framework documents the results of climate scenario analysis,
identifying the hot spots of climate-related risks and opportunities to West Fraser with an outlook
to 2030 and 2050, and helps inform the prioritization of climate-related risks and opportunities forenterprise risk management (ERM) and corporate strategy.

Complete

Project Steps

Physical Risks

Environment

Climate Risk and Opportunity Framework

In 2022, we conducted the first phase of acompany-wide Climate Risk and Opportunity
Assessment. The initial assessment phasecharted the potential physical impacts of achanging climate and the policy risks related
to transitioning to a lower carbon economy.
The project considered effects across three global
temperature shift scenarios.
While climate change presents opportunities forthe forest products industry, we identified sevenpotential risks that will be further assessed infuture phases and inform our climate mitigation
and adaptation strategy.

Governance

Current Activity

1. Established project content and scope of the analysis
2. Identified stakeholders and scenario narratives
3. Conducted Climate Risk and Opportunities Awareness session
4. Conducted Climate Risk and Opportunities Exploration session
5. Validated findings through consultations with
Project Working Group

6. Present findings
from Risks andOpportunities
Frameworkand go-forward
recommendations

PurposeTransition Risks• Increasing cost of energy• Changes in land-use and forest

conservation practices• Inability to transition to low-carbon
technologies and operations• Report on recommendations from Task Force on Climate-related Financial Disclosures (TCFD)• Respond to queries from external stakeholders such as investors, on climate-related disclosures• Understand the resilience of our business strategy and operations to climate-related risks

and opportunities• Update our business strategy to manage and respond to climate-related risks and opportunities

28

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

292022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Forest Resiliency
Our forestry professionals and biologists work
together to monitor and manage the interconnected
elements essential for healthy and resilient forestlands.
Enhancing forest resilience is partly addressed byconsidering a forest landscape’s natural range ofvariation. Forest ecosystems are inherently dynamic,
with natural disturbances such as wildfires shaping
their structure and composition. Active management
aims to mimic these natural processes by collaboratingon prescribed fire treatments, selection harvesting
and tree thinning. By doing so, forest managers canmaintain a diverse stand structure, species compositionand spatial patterns similar to the historical range ofvariation. This approach helps forests adapt to changing
conditions, fosters biodiversity, reduces the risk ofcatastrophic events and promotes the regeneration ofresilient tree species.

Active forest management includes ecosystem‑based
management that enhances forest resilience.
This approach considers the interconnectedness of
ecological components within a forest ecosystem.
Rather than focusing solely on timber production,
ecosystem-based management considers various
ecological values such as water quality, wildlife
habitat and recreation. Active forest management
ensures the long-term viability of forest ecosystems
by implementing strategies that maintain ecosystem
integrity, such as maintaining wildlife corridors,
protecting sensitive habitats and promoting sustainable
logging practices. This holistic approach fosters
biodiversity, enhances ecosystem services and provides
a framework for sustainable resource use, ultimately
contributing to forest resilience in the face of climatechange and other stressors.

One key aspect of active forest management is its
ability to reduce forest fire severity. Fire plays animportant ecological role in many forest ecosystems,
but its intensity can become destructive when forests
are not properly managed. Forest managers can reduce
fuel loads, decrease the likelihood of high‑intensity
fires, and promote more frequent low-intensity fires
through fuel reduction treatments. By managing
forest fuels, including dead wood and dense
undergrowth, active management practices help create
fire‑resilient landscapes. This approach minimizes
the potential for large-scale, high-severity wildfires
and allows ecosystems to recover more quickly fromnatural fire events.

In fisheries and key watersheds, we monitor andmanage hydrological recovery. We design regional
watershed plans in consultation with professionalhydrologists that mitigate the risk of hydrological
function loss, reduce the risk of flooding andmaintain groundwater levels.

30

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Natural Carbon Cycle
We believe that the management of forests with sustainable harvest increases the long-term storage of carbon on the planet’s surface.
We believe the wood products sector can be part of the climate change solution.

Em i s

Decay

Decay

Em i s s i ons

sions

Atmosphere

Short-lived

Recycled

W
oo

dP

ro d

uc

ts

Long-lived

L

ar

ge

Di

st

ur

ba

nc

Natural forests store a finite amount of aboveand below-ground carbon. Eventually, muchof this carbon is emitted either throughlarge disturbance events like forest fires, ordecomposition and decay of dead woody debris.

n
Ma

es
G ro w i n g F o re s t s

While growing, forested stands sequester
carbon. Once reaching maturity, a standwill emit and store carbon in equilibrium.
When managed at the landscape level, forest
managers only cut what a growing forest cansustainably regenerate over time.

uf

a

u
ct

rin

Long-term
CarbonStorage
Some estimates indicate thatup to 90% of carbon in wood
products is stored indefinitely,even at end of life andwithin landfills.

g

The carbon contained in long-use harvested
wood products—like building materials—isconsidered temporary storage. Wood building
materials can extend the life of stored carbon
and contribute to global carbon storage overall.

31

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Sustainable Forestry

Healthy Forests for the Future
We are committed to adapting our sustainable
forestry practices to mitigate the risks created byoperational and transportation activities, and theimpacts of climate change.

~1.3M

million seedlings planted
during the 2022 season in
our U.S. seedling program

100% <1%
Certified SFI® responsible
fibre sourcing for our
North American woodprocurement operationsof our managed
forest areas
are harvested
annually

Joined the Taskforce on Nature-related Financial
Disclosures (TNFD) Forum to collectively
advance global efforts related to addressing
biodiversity risk

To advance science-based sustainable forest management practices, we collaborate
in research partnerships, including:Forest Research and Resilience
Forest Resource Improvement Program (FRIP):
Through our FRIP projects we work to improve forest
resources and enhance the integrated managementof forested lands. Projects cover a broad range ofactivities including direct improvements to forest
resources, better understanding forest resources andtheir management, increased inventory of non‑timber
forest resources, forest protection initiatives, and publicawareness and education activities. Outside of Alberta,
we participate in similarly themed programs to advancethe principles of sustainable forest management.
Silva21 Forest Transition Hub: Through the Silva21
research program, we provide tools and practicalsolutions for decision-makers, managers and planners
to adapt their forest management practices ensuring thelongevity of forest-based communities across Canada.

Habitat Conservation andWater Protection
Biodiversity Monitoring: At our Hinton and Edson
operations we have established a program tocontinuously monitor and enhance our understandingof the habitat where we operate and the response ofterrestrial and aquatic species to management activities
and disturbances. Our aim is to integrate forest
management activities with species conservation toachieve even more sustainable forest management.
Woodland Caribou in the Western Boreal:
We are examining the natural variation of habitat
areas for several Alberta woodland caribou ranges.
This improved understanding of the natural conditions
which caribou have evolved alongside, and adapted
to, will inform future management strategies to support
caribou recovery.
Creek Restoration: Working collaboratively withindustry, government, conservation, and recreationalorganizations, we are rehabilitating MacKenzie Creekand enhancing user experience. We are identifying
the resource values that need protection, establishingcurrent-use patterns and ensuring that sustainable
recreational experiences are maintained.

322022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Forest Regeneration

At West Fraser, silviculture provides the path forward for natural resource management post-harvest

Our Forestry Professionals

Learning from Land & Community

Our forestry professionals are regularly on
the land, observing the trees to develop oursustainable forest harvesting plans. We use
site preparation techniques to ensure good
growing conditions for regenerating forests.

We engage with over 100 Indigenous
Governments, communities and organisations
to build meaningful, long‑term relationships.

~65

Procurement
forestry
professionals
in the U.S.

100%

300+
Full time forestry
professionals and
65 students in Canada
Certified responsible
fibre sourcing for ourmanaged forest area

Seedlings

Planting

Our foresters select seeds
from healthy parent trees
because high quality seeds
are crucial to successfulreforestation.

Tree planters require
technical abilities, skills,
and endurance to efficiently
plant a large number oftrees within a condensed
time frame (mid-May to endof July each year).

Monitoring
We ensure strong andhealthy managed forests
through surveys, site
preparation, monitoring,and restoration activities.

66

million seedlings
planted in
our managed
forest areas>2 billion
trees planted since 1955

~2 to 3trees regenerated forevery tree harvested

332022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Protecting our Natural Resources

Stewarding Sustainability
Water, a vital natural resource, is carefully managed
in our woodlands and manufacturing operations.
As part of our sustainable forest management
planning and harvesting practices, we consider
stream and wetland protection and operate
under strict regulations regarding the protectionof watercourses. Where we source fibre fromprivate landowners, our procurement policies andcertifications promote using forestry management
best practices to protect water quality.
We contribute to and engage in collaborative researchto support the science of hydrology and inform ourmanagement of watersheds. Our Environment Policy
endorses our commitment to water stewardship.
Our pulp and paper mills use water to wash andprocess pulp and transport it through the mill andin cooling process effluent to optimize effective
environmental treatment. Our water-intensive operations
are strategically distant from regions classified aswater stressed and the process water is reused several
times in our manufacturing processes before it istreated and safely released back to the environment.
In 2022, approximately 90% of the water withdrawn
for our pulping operations was treated and returnedto the environment.

Monitoring and Reporting
Our operations are committed to continuous waterand air management improvement, with goals andobjectives established in 2022 to drive improved
performance. We monitor and manage our effluent
discharge quality, as well as work to reduce water
consumption at higher water-use operations like ourpulp and paper mills. Key indicators used to evaluate
the quality of effluent discharge include total suspended
solids (TSS) and biochemical oxygen demand (BOD).

Air emissions are generated through activities that
include drying processes in our engineered wood andlumber kilns and biomass or fossil fuel combustion
systems that provide heat and electrical energy for our
manufacturing processes. We also monitor emissions
from transport, material handling, bleaching processes
and owned landfills. Air emissions include sulphur
dioxide (SO2), nitrogen oxides (NOX), particulate matter(e.g., road dust, fuel combustion), methane (CH4),
carbon monoxide (CO), volatile organic compounds(VOCs) and small quantities of hazardous air pollutants(HAP). All emissions sources are authorized byrespective regulatory agencies to meet applicable air
quality standards.

Goal Areas & Associated Targets
Water
Conservation

2024

Complete water balance assessments for all pulp mills

2025

Complete water balance assessments for all West Fraser operations
Complete flood/drought risk assessment for all affected manufacturing operations

Air Quality

2026

Establish water use reduction plans for all pulp operations

2027

Establish water use reduction plans for all West Fraser operations

2024

Identify and prioritize participation in regional or community airshed groups where established342022 Sustainability Report

Addressing Community Concerns
We keep communities informed about our commitment
to the environment. We participate in public roundtables and advisory committees that include community
members, local council members and public healthofficials at many of our operations. Members areinvited to voice questions or concerns relating to theoperation and its environmental impact. We work
diligently to address community feedback and identify
joint solutions. This may include answering questions
related to effluent treatment system odours and air
quality concerns.

Introduction

Governance

Environment

SocialConclusion

Appendix

Highlights
Transitioning
to Unbleached
Kraft Pulp (UKP)

At the end of 2022, one of two production lines at our Hinton, Alberta
mill was shut down, with the remaining line producing only UKP, andresulting in a 22% reduction in water use in the first quarter of 2023.

Making Energy
from Wastewater

Slave Lake Pulp built a unique energy plant that uses the mill’s
wastewater effluent to produce methane gas using biological organisms
to create electrical energy for the mill.

PoweringGreenhouses

For 20 years, our Quesnel River Pulp mill has recovered heat fromtreated effluent to warm the buildings of a local tree seedlinggreenhouse, which grows native tree seedlings for our planting program.

Recycling Water
and Wastewater

At our Williams Lake Plywood mill, we enhanced the water management
system by introducing a filtering and recycling process that has resulted
in 13.4 million litres of wastewater recycled in 2022. At our mill in Hinton,
Alberta, we now recycle backwash water year-around in the water
treatment plant, which has led to ~3% reduction in water use.

35

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Biomaterials, Residuals and Waste

Embracing Circularity
We make the most of every log we process or
responsibly procure. We maximize biomaterial
recovery through scanning technologies at our solid
wood mills. We apply innovative thinking, modern
processes and technology to ensure we utilize 99%
of each log processed, optimize our production andadvance bioenergy opportunities to further support
our decarbonization efforts.

We continue to explore new ways to use woodby‑products, including enhanced carbon and cellulose
bio-composites.

We make pulp from woodchips and cores suppliedby our lumber, plywood and veneer operations.
Sawdust and shavings from our lumber mills provide
supply to our MDF operations, are transformed
into energy to power our mills, or are sold forbeneficial reuse such as agricultural purposes.
Renewable biomass fuel sources at many of our mills
now provide a significant portion of our energy needs.

operations in Alberta, B.C. and the U.S., as well assold to third parties to produce pellets• >92% of our wood chips are used in the pulping

process, whether it is made into pulp at our pulp mills
or used at third-party pulp operations• Sawdust and shavings are sent to our MDF• Shavings, bark and ash are sold to the agricultureindustry, primarily in Alberta, for use as mulch, animal
bedding, or soil enhancer (fertilizer)

A small percentage of our wood can be contaminatedby mud, rock, or metal, making it unsuitable for energy
or manufacturing. This waste, ash and biosolids aresent to regulated landfills for disposal, while other sites
separate the materials and repurpose them.
We manage significant sources of waste throughrecycling and supplier take-back programs.
These programs include standard recyclables like
paper and cardboard, as well as office and machine
shop materials such as oily rags, fluorescent lightbulbs,
computer equipment and batteries. In 2023, we arefocusing on expanding recycling programs across all of
our U.S. operations.

• A variety of biomaterials are produced from ourpulping process including lignin and biocomposite

Goal Areas & Associated Targets
Resource
Efficiency(Waste)2023

Develop standardized resource efficiency metrics for all product groups
Implement enhanced recycling program across all U.S. mills

2024

Achieve 10% improvement in resource efficiency in lumber, panels and engineered wood2025

Achieve 10% improvement in resource efficiency in pulp

2030

Achieve 50% improvement in resource efficiency across all divisions

36

2022 Sustainability Report

Introduction

99%
We use 99% of
every log we process70%

Particleboard in our
U.K. operations is manufactured
from approximately 70%
Post‑Consumer Wood Waste

93.6M
Log Utilization
63% Lumber, OSB, Veneer/Panels
21% Chips
3%

Sawdust4%

Shavings

8%

Bark and Hog FuelOur operations generated
93.6M GJ of energy, an increaseof ~29% compared to 2021

Governance

Environment

SocialConclusion

Appendix

Resource Efficiency
In 2022, we advanced company‑wide
goals and targets for improved
resource efficiency and reductionof landfilled waste.
Energy from Residuals
The by-products from processing trees into
solid wood and pulp products produce valuable
energy sources. Waste bark, waste wood, black
liquor, and methane from effluent treatment
processes are all renewable bioenergy sources,
providing 73% of our production-related
energy consumption.
Using Innovation to Reduce Waste
Our Research and Development Centre (RDC)
takes steps towards a greener wood-based
future by using research and development toadvance innovative, lower-carbon products.
The RDC focuses on new applications for woodby‑products and has partnered with our Hinton
Pulp mill to recover lignin, the “natural wood glue”
that binds together cellulose fibres in plants,
giving a tree its shape and strength.

<1% Waste

37

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Products and Innovation

Building Better with Wood
Our products are part of the climate changesolution. When it comes to building for future
generations, material choice matters. Wood is asustainable, high-value building material.
Building with wood is efficient, often completed fasterthan other systems and can be done year-round inalmost any climate. Wood products are also recyclable,
versatile, biodegradable and have a smaller energy,
water and carbon life cycle footprint than most building
products. Wood stores carbon with the least embodied
energy of all major building materials and requires lessenergy from harvest to transport and in manufacturing,
installation, maintenance and disposal or recycling.

To objectively demonstrate these attributes, we arecommitted to developing Environmental ProductDeclarations (EPDs) that quantify the environmental
impacts of our products based on a third-party verified
Life Cycle Assessment (LCA).
Throughout our history, we have focused on improving
the environmental performance of our processes andproducts. These efforts are reflected in our sustainability
strategy and Environment Policy.

Our Research and Development Centre(RDC) and Bioproducts teams consist ofengineers and scientists with mechanicalchemical and metallurgical expertise andfocus on investigating new and innovative
applications for wood products.

2025

Develop company-specific
Environmental ProductDeclarations (EPDs) for all
product groups

We also conduct research to replacepetroleum-based raw materials like resin andwax with greener alternatives by using lignin
extracted using the FPInnovations patented
Lignoforce process at our Hinton Alberta mill.
Further innovations include:

2050

Achieve 90% circularity• Our Amallin lignin is recovered from our pulp

Goal Areas & Associated Targets
Life Cycle
Assessment

Continuous Innovation

manufacturing operations using proprietary
technology. It is a renewable green alternativefor fossil fuel-based compounds and often
has cost and energy savings compared to
traditional chemical formulations• Lignin can provide a greener alternative tobitumen, a petroleum-based product and oneof the main raw materials used to produce
asphalt pavement. In 2022, FPInnovations,a Canadian forest products researchorganization, conducted a lignin asphalt
product trial in Quesnel, B.C. The trial replaced
10% bitumen with lignin from our Hinton Pulp
mill lignin plant

38

2022 Sustainability Report

17,207,704
tonnes of carbon dioxide equivalents (tCO2e )were stored by our products in 2022*

Introduction

Governance

Environment

SocialConclusion

Appendix

Williams Lake Plywood
Our Williams Lake Plywood millsignificantly improved energy efficiency.
In late 2021, our Williams Lake Plywood mill
installed a Green Veneer Cold Press to optimize
water use and improve drying time. We achieved
an increase in dryer productivity of ~5% andreduced water usage by ~800,000 liters annually.

*NCASI GHG calculation tool for wood products

392022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

AppendixSocialSocial performance is a crucial component of oursustainability strategy and the key to a culture
where people—employees, communities, business
partners and everyone in our chain—are valued andfeel a sense of belonging. In 2022, we advanced thedevelopment of our Social Performance Strategy
with ambitions, goals and targets to improve our
performance today and well into the future.

Ambition Statement• We are committed to ensuring our people go homehealthy and safe every day• We strive to provide our people with development

opportunities that embrace their unique skills andperspectives, with a focus on wellbeing• We aim to strengthen community relationships andinvestments where we work and partner

Goal Areas & Associated Targets

Material Topics

SafetyLeadership

2030

Reduce our Total Recordable Incident Rate (TRIR) to 1.25

Workforce
Diversity

2030

Implement DEI plans and actions at every level in the organization to improve
representation of our leadership and workforce• Community Engagement, Diversity, Equity &Inclusion, Health and Safety, Meaningful Indigenous
Relations, People Development, Employee Wellbeing• Reviewed annually for increased representation
Employee
Wellness

2030

Implement a progressive employee wellbeing approach focused on all 4 personal
wellbeing pillars: health (physical), social (emotional), mental health, and financial

2024

Establish Employee Wellness strategy focused on all aspects of healthand well‑being

Belonging,
Equity &Inclusion

2030

Enhance employee experience through a culture of inclusion, belonging,
continuous learning and development

Indigenous
Relations2030

Achieve Progressive Aboriginal Relations (PAR) gold certification from the
Canadian Council of Aboriginal Business recognizing longstanding and meaningful
relationship commitments with Indigenous community partners and rights holders

UN Sustainable Development Goals (SDGs)

40

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Health and Safety

A Core Value and Business Priority
We are committed to ensuring our people gohome healthy and safe every day. We are proud
to be recognized as an industry leader for
managing safety programs, compliance andcontinuous improvement.
Employees are encouraged to engage in safety
initiatives, enabling a shared safety culture for all
employees and partners. One area for continued focus
includes upgrades to safe mobile equipment operationin pedestrian zones. Building on our 2021 policy, ifpedestrians cannot be separated with engineering
controls (barriers) from mobile equipment, then theequipment must shut down before a pedestrian canenter the area.

Our total recordable incident rate did not improve in
2022, with hand injuries contributing to 33% of our
total recordable incidents. Targeted safety assessments
are underway across all our operations to ensure handsafety is a critical focus area in 2023. We have also
implemented a policy to reduce hand injuries caused by
improper equipment, tools and products handling.
We proactively look for ways to minimize or eliminate
hazards and do not tolerate at-risk behaviours.
Everyone is expected to stop a job if they areconcerned about safety and to seek clarification; it isboth their right and their responsibility to do so.

The Southern Forest Products Association (SFPA)
recognized three of our mills with John Edgar
Rhodes Sawmill Safety Excellence Awards

The Alberta Forest Products Association (AFPA)
safety awards went to several of our mills• Our Fitzgerald, Georgia and Whitehouse, Florida

were recognized for their long-term improvement
and maintenance of health and safety processes
over three years

mills received distinguished safety awards.
This was Fitzgerald’s first time as an honoree andWhitehouse’s second award in this division• Our Opelika, Alabama mill received a safety

excellence award for the third time

1.25
TRIR

Established a 2030 target to
reduce Total Recordable Incident
Rate (TRIR) to 1.25

• Edson Forest Products and Hinton Wood Products• Alberta Plywood was chosen as the recipient of

the Panelboard Sector, Outstanding Achievement in
Health & Safety Excellence Award in recognition of
the mill’s demonstrated long-term improvement andmaintenance of its health and safety processes

412022 Sustainability Report“Elimination of the interaction
between equipment andpedestrians is dealt with thesame importance as the lockoutof energized equipment.”
Ray Ferris, President and CEO

Introduction

Governance

Environment

SocialConclusion

Appendix

Safe to Walk
As part of a concentrated effort toimprove the interface between mobile
equipment and pedestrians, we have:• Installed designated walkways, utilizing theSafe2Cross System in our Huguley, Alabama
mill. This system prevents interaction withmobile equipment by leveraging gates andsafety arms with interlocks• In Cowie, Scotland we introduced yellow

barriers and painted paths to create approved
pedestrian walkways, segregating people frommobile equipment and vehicles• New robotics systems that create a safer

50%

environment by eliminating employee
interactions with finishing area processes were
installed at our Joanna and Allendale millsin South Carolina

reduction in the most serious
life-altering injuries over the last year

36%

reduction in our medical recordable
incident rate since 2016

42

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Appendix

People Development

Investing in Growth
Investing in the growth and development of
our workforce is a great source of pride for us.
We invest in numerous employee programs that
support professional development, leadershipdevelopment and succession planning.
As part of our people development strategy, wedemonstrate commitment to our trades by facilitating
apprenticeship programs. We support careeradvancement opportunities, financial investment
and time off to attend courses. We developed acurriculum for U.S. employees that aligns with Canadianapprenticeship programs to standardize and promotesynergies across our North American operations.
We collaborated with four U.S. colleges to co‑develop
our Qualified Trades Programs for U.S.-based
millwrights and electricians.

Our strong educational partnerships with the Universityof British Columbia (UBC), the British Columbia Instituteof Technology (BCIT) and the Justice Institute ofBritish Columbia (JIBC) bring world‑class leadershipdevelopment to our employees. Partnerships with three
U.S. colleges—Arkansas State University, Oconee
Fall Line Technical College and Southern Union State
Community College—allow us to deliver Development
Dimensions International (DDI) leadership training.
Each class covers a different topic. Examples are: HighImpact Feedback, Resolving Workplace Conflict andValuing Differences. These programs are part of ourleadership program, which enhances the skills of our
future leaders.
The West Fraser Academy (WFA) incorporates
modern learning technology to elevate the employee
training experience. WFA is delivered through ourinternal Learning Management System, providing
technical, operational and soft-skills training to build
capability and depth within our workforce. In 2022, we
successfully integrated all North American operations
into WFA and we will integrate our U.K. and Belgium
Operations in 2023.
Employees are encouraged and supported to set
and achieve goals, ensuring they get personal andprofessional benefits from our development
opportunities.

Academic Partnerships• BCIT educational institutional partnership programs:

Industrial Wood Processing and Business of
Sawmilling, 20 employees per year

• UBC educational institutional partnershipprograms: Communicating for Leadership
Excellence and the Advanced Leadership Program,
40 employees per year

• Justice Institute of British Columbia (JIBC)

educational institutional partnership programs:
Negotiating Skills Training, 24 employees per year

• Development Dimensions International (DDI)

partnership with four U.S. colleges

333
614
113

participants in our U.S.
qualified trades program with
52% graduated in 2022
operational leadersparticipated in West Fraser
Academy courses in 2022

active apprentices across
our Canadian operations

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Appendix

Meet the Apprentices“I felt fortunate to be able to participate in the Industrial
Wood Processing and Business of Sawmilling pilot
programs. The courses provided really good exposure
and it has been very beneficial to understand how ourbusiness is run. I can better appreciate all of the efforts
of folks, in other areas of our business. Generally, weare probably not as knowledgeable and understandingof what goes on around us as we should be. I met a lotof good people in the company and industry—it makes
the world smaller. I’m very thankful and grateful for theopportunities I’ve been given. Put your hand up if you
get opportunities like this!”“I have participated in West Fraser’s millwright andelectrical apprenticeship programs. I went to college
23 years ago and these classes have given me
a refresher on the basics. I have enjoyed getting
to interact with other mills, ask questions andreceive feedback.”
Charles “Chucky” White, Millwright Level 3,
Fitzgerald Mill, and West Fraser Qualified Trades
program participant“When it gets right to it, the most important thing for me
is my family. I’m a single mom so it’s sometimes toughto balance my education, shift work and volunteeringas the head coach for my two boy’s hockey teams—
but we manage. We sit down and do our homework
together at the kitchen table! I like working at West
Fraser and doing what I do because I can advancemyself and still be there for my family.”
Veronica Whitford, Reliability Coordinator,
Hinton Wood Products, and Graduate of the West
Fraser Canadian Apprenticeship Program

Ryan O’Dette, Woods Manager at Blue
Ridge Lumber, and BCIT Apprenticeship
Program Graduate“I feel very blessed to be working as an apprenticeelectrician for West Fraser. Every day I come in witha smile on my face and when I leave, I leave witha smile on my face. I am always excited to comeinto work and learn something new or to develop
existing skills. If anything is needed the company
will provide it for me, which shows how much
West Fraser cares about me and my future.”
Daniels Ertman, Engineering Apprentice at South Molton Mill

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Appendix

Recruitment and Retention

People Excellence
Our aim is to be an international employer ofchoice where each individual’s unique skills andperspectives find a place to grow. We constantly
improve the company recruitment process andleverage technology in our favour. Some examples
include filling jobs internally, prioritizing promotions
from within and our use of social media.
Engaging Indigenous youth is a priority for West
Fraser. We offer summer student opportunities in
our Woodlands programs and career development
workshops between our leadership and Indigenous
youth. We sponsor and actively participate inIndigenous youth employment programs through the
Outland Youth Employment Program (OYEP).

We encourage employee participation in Mentorshipmatching programs, such as Project Learning Tree
Green Leaders (specific to Indigenous Youth) and
Project Learning Tree Green Mentors and participationin machine-operator career exploration programs forhigh school students.
Our General Managers receive third party training
specific to the recruitment, inclusion and developmentof Indigenous employees, identifying and working
through potential employment barriers. We also
actively support Indigenous careers in forestry throughsponsorship of and participation in conferences andIndigenous Nation-led career fairs and events. In 2022,
this included Workforce Forward, Inclusivity Career Fair
and BC First Nation Forestry Council Career Fair.

10x

Canada’s Top
Employer designation
earned 10 times

45%

Building off of relationships started in 2018, welaunched our internship program with the Universityof Arkansas at Pine Bluff (UAPB), a Historically Black
College and University (HBCU), in 2019. We have since
hosted seven summer student interns from UAPB,
many returning for a second summer with us. Two of
our former interns have developed into leadershiproles with the company. In 2023, we also extended thisrelationship to Tuskegee University, another top HBCU.
We strive to offer multiple career pathways, suchas internships and student programs, to provide
future generations with meaningful employment.
From the United Kingdom (U.K.) to our home base ofQuesnel, British Columbia (B.C.), we seek to be an
employer of choice.

Co-ops/Interns Hired

Job Fair Participation

Total

91

Total

86

U.K.

36

U.K.

10*

Canada48

Canada

36

U.S.

7

U.S.

40

*community or school-led job fairsof all new hires areunder the age of 30

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Increase in
new women hires

Governance

Environment

SocialConclusion

Appendix

New Country, New Career

16.9%
15%

15.7%

In June 2022, we reached an all-time highemployee shortage at our Whitehouse millin Florida. Support from temporary staffing
agencies was unsuccessful in meeting
demand. Working with community
groups, we connected with leadersand members of the Afghan refugeecommunity, inspiring new opportunities
for new Americans.
Sayed Hamid Sadat, originally a translator with
the U.S. military, became a valued employee.
He has been instrumental in engagement andoutreach efforts to support other Afghan refugees
in the hiring, safety training and orientation
processes. Over several months, we wereable to successfully onboard and support new
operational crews.
We invested in translating employee
documentation into Farsi to help ensure a safe,
inclusive and welcoming environment.
By the end of August, Whitehouse was fully
resourced, including 15 Afghan employees
who have joined our communities and become
our neighbours.

2020

2021

2022

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Diversity, Equity and Inclusion

Culture of Belonging
Inclusive, diverse teams build a more vibrant
workforce, safer operations and a stronger
company overall. We believe in creating a safe
space for diversity, equity and inclusion (DEI)
to flourish. We are working to embed DEI initiatives
throughout the organization, enhancing employee
representation and ensuring a culture of belonging.
We progressed our existing DEI statement to a
DEI policy. Throughout 2022 we engaged with ourpeople to implement the policy and its expectations
across the company. We are working to improve ourdatasets to inform the adoption of consistent bestpractices to support our commitments.

24%
+1%
8%

In 2023, we are conducting a compensation equity audit
to further drive strategic focus. We continue to engage
our diverse, highly talented workforce to support ouroverall operational excellence strategy.
West Fraser was a key sponsor in the inaugural
Women’s Forest Congress, held in Minneapolis,
Minnesota, and our team members participated intalks and sessions that aimed to advance and expand
individual and collective understanding of creating
a more diverse, inclusive and resilient forest sector.

of employees self‑identify with anunderrepresented racial or ethnic identity
Growth of women in
our workforce from 2021
of Canadian employees
self‑identify as Indigenous• U.S. Sexual Harassment training has

been implemented• Unconscious Bias and Diversity training has beendelivered to all salaried employees in North America• Divisional diversity action plans and dashboards

have been enhanced• Gender-neutral job titles have been reviewed andcompleted in the U.S. The process will be completed
in Canada in 2023

DEI Operations Council
Since coming together in 2022,
our DEI Operations Council looks tofind ways to further foster diversity,
equity and inclusion across all U.S.
operations. We also have global
Operations DEI Councils to support
initiatives in Canada and Europe.

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Appendix“Initiatives such as Women in Woods provide space for meaningful
dialogue, to address issues and raise opportunities, consistent with thegoals of our diversity committees and our commitment of continuous
improvement... Sessions are not only an investment in the lives of eachparticipant but also as an investment in our West Fraser community thatcan grow and continue to have a positive benefit for years to come.”
Adrian Plante, Vice President, Canadian Lumber

Women in Woods
In 2022, the Women in Woods group wasformed at our Slave Lake mill, by Tracey
Courser, Woodlands Manager, and Shannon
Fehr, Carbon Portfolio Program Engineer,
to promote a more inclusive and supportive
work environment.
The group explores various topics of interest to
support women at our Slave Lake mill locations byproviding mentoring, career-development supportand quarterly discussion sessions with leadership.
With expansion to our mill in High Prairie, Alberta welook forward to the growing momentum continuing
through 2023 and beyond.

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Appendix

Employee Wellbeing

Caring for One AnotherWe recognize the importance of a layered approachto services offered for overall health, fostering a
sense of community and providing the educationnecessary for our employees’ strong financial
futures. As such, our strategy embraces four pillarsof health: physical, social, mental and financial, toprovide employee support in all areas. Our healthand wellness benefits programs offer employees
additional benefits that complement government
programs. We also provide assistance programs formental health to all employees and their families.

We appointed our Corporate Medical Officer to leadour employee wellness strategy through our crossfunctional and multi-regional health and wellness
committees. Our initial efforts included a one-on-one
survey for employees at 57 North American sites toassess health and wellness offerings and identify
opportunities to enhance our support for employee
health and wellness. We are also gathering quantitative
data regarding utilization rates of existing programming,
benefits costs and disability claims. Based on the
results of this work, we are now developing plans andawareness campaigns to enhance overall employee
wellbeing. In 2023, we will be delivering new initiatives,with a robust program in place for early 2025.

Employee health and wellness website
planned for easy access to resources
U.K. mental health first aid training
was provided to employees

Staying Healthy at Cariboo
Pulp & Paper Recreational ClubThe Recreational Club at our Cariboo
Pulp & Paper mill promotes employee
wellbeing by providing a space tounwind and have fun.
The club offers various activities catering todifferent interests and skill levels, from sports
like bowling and curling to family events such as
the kids’ holiday party, movie day and pumpkin
carving contest. These activities not only provide
an opportunity for employees to socialize withcolleagues they may not interact with daily, butthey also promote a healthy work-life balance byencouraging employees to engage in hobbies andinterests outside of work.
In addition to promoting employee wellness, therecreational club also positively impacts company
culture. The club fosters a sense of communitythat extends beyond the workplace by creating aspace where employees can come together andbond over shared interests.

Developed senior leadership survey process
to inform future health and wellness initiatives

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Appendix

Meaningful Indigenous Relations

Reconciliation, Relationships, Reciprocity
Around the world, forests are natural sourcesof spiritual, cultural, social, economic andenvironmental value for Indigenous Peoples.
We acknowledge that our forest operations in
Canada take place on Indigenous Peoples’ ancestral
lands and traditional territories. These lands
continue to hold inherent generational value fortraditional use, celebration and cultural significance.
We are committed to Reconciliation and currently workwith over 100 Indigenous Governments, communities
and organizations to create relationships of reciprocity
that contribute to economic prosperity, community
wellbeing and resilience.

39
8%

In 2022, we implemented
mutually‑agreed upon engagement
processes with 39 communities

of Canadian employees
self‑identify as Indigenous

We have generational relationships with many
Indigenous communities, where we continue tolisten, learn and share, incorporating traditional
knowledge, cultural significance and co-development
opportunities to shape how we work. We are refining
focus areas, adopting best practices and expanding
our understanding of rights holders in Canada throughparticipation in the Progressive Aboriginal Relations(PAR) Certification process.

• Increased our participation and acknowledgement

We seek to uphold our commitments as stated in
the Indigenous Peoples’ Policy and advance ourrelationships to achieve mutually beneficial outcomesto strengthen the generational value of the resources
we manage. We regularly consult with more than 80
Indigenous communities on an ongoing basis and wecurrently have 39 mutually agreed upon Indigenous
community engagement processes in place.

for approximately ten students over eight weeks

of Truth and Reconciliation through community
engagements and a Canada-wide webcast for
employees and contractors• Refined and unified engagement strategies and tools

to improve the collective understanding of outcomes
and best practices across the regions we work in• Conducted an Indigenous Forestry Training Program• Partnered with multiple Indigenous Nations

on creating student opportunities leading toforestry field roles• Collaboratively launched and supported machine

operator training programs in multiple jurisdictions

We aim to listen, engage in dialogue and incorporate
traditional knowledge into our practices. We haveembedded the perspectives and rights of Indigenous
Nations and community members within our Indigenous
Peoples’ Policy and establish clear expectations to
uphold these values.

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Introduction“For many decades, we have consistently
seen West Fraser’s forestry professionals
demonstrate how sustainable forest
management in Lhtako Dené traditional
territory, can balance environmental,
economic and community values, using
planning and management techniques thatreflect our values.”
Chief Clifford Lebrun, Lhtako Dené Nation

Advancing Reconciliation
Seeking to achieve Progressive AboriginalRelations (PAR) Gold certification goal by 2030.
West Fraser’s strategy, supported by theprinciples and best practices identified throughour participation with the Canadian Council of
Aboriginal Business (CCAB), will focus on:• Employment and Youth Engagement• Elevating Indigenous-owned Economy• Leadership Actions

Governance

Environment

SocialConclusion

AppendixLending Hands and Hearts
Following the devastating discovery of
approximately 167 unmarked graves atthe site of the former Grouard Mission,
also known as the St. Bernard’s Indian
Residential School, Chief Sydney Halcrowof the Kapawe’no First Nation hosted asignificant gathering of 800 participants
including survivors, elders andfamily members.
West Fraser representatives were invited to attend
the gathering and provided over 20 employee
volunteers to assist the Nation in hosting andfunding the gathering. As a reflection of therelationship between West Fraser and the Nation,
Chief Halcrow recognized D’Arcy Henderson, Vice
President Canadian Woodlands and Keith Carter,
Senior Vice President Western Canada at thegathering with the presentation of Ribbon Shirts.

Building a Future Together
The Lhtako Dené Nation near Quesnel
has lacked an arbour since dismantling
the previous one a decade ago.
A new arbour is being constructed using fir logs
and wood products donated by West Fraser.
It will have the capacity to seat approximately
1,000 people and enable the Nation tohost gatherings.

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Meaningful Indigenous Relations

Walking the Path Together
We conduct Indigenous Cultural Awarenesstraining with employees participating in active
community roles and our Executive and Senior
Leadership teams. 100% of our Executive leaders,
Manufacturing General Managers and Woods
Managers have now participated in the training.
In 2022, we expanded our Indigenous Youth summer
student program and Indigenous Internship Pilot
opportunities. We established an approach to set
targets for Indigenous employment and Indigenous‑ledbusiness procurement. We initiated a centralized
tracking platform to support and identify engagement
opportunities and support consultation efforts
throughout Western Canada.
Our operational plans support Indigenous communities
and neighbours through road management, identifying
key transportation corridors and considering visual
screening to minimize potential impacts on Indigenous
hunting rights. Through discussions regarding ourharvesting plans, we strive to incorporate traditional
land use and forest stewardship principles.
Through ongoing collaboration and site visits with
Indigenous Nation representatives, we identify
site‑specific actions to mitigate impacts from forest
management activities to values such as medicinal
plants, vegetation and wildlife habitat critical toIndigenous rights and cultural preservation.

We observed cultural events such as harvest blessingsand ceremonial celebrations and shared opportunities
with employees and their families. We supported
Indigenous Youth and Young Adult awareness of oursector and career exploration opportunities throughparticipation in program delivery of the Forestry 101
training program.
We are a proud sponsor and board member of Forest
Operations Technician Program (FOTP), a partnershipwith Woodland Operations Learning Foundation(WOLF) and Northern Lakes College. WOLF provides
professional quality Forestry Training Programs
and certifications for Environmental Training andforest resource workers, Indigenous, Métis and ruralcommunities. This ten-week program focuses onbuilding interest and capabilities on logging equipment
operations and general forestry skills.

Williams Lake Lumber Delivers
to Indigenous Communities
The shipping department at Williams
Lake Lumber delivered cedar kindlingto the neighbouring communities ofWilliams Lake First Nation, Highbar First
Nation, Stswecem’c Xget’tem First Nation,
Canim Lake Band, Yunesit’in First Nation
and Xatśūll First Nation.

We continue to expand our efforts to support, sponsor
and participate in First Nation Youth Training Programs(FNYTP) and the Outland Youth Employment Program(OYEP) in both Alberta and B.C. OYEP is a national
network of land-based education, training and work
opportunities for high school-aged Indigenous
youth. It provides a supportive space that replicatesvarious work environments over six weeks offering
training and education.

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Introduction

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AppendixCommunity Engagement

Investing in Our Communities
We share a responsibility for the communities
where we operate that goes beyond providing safe,
sustainable employment. It also means that weinvest in people, their potential and the possibilities
for a better life for all.
Our approach is the same throughout our operations
in Canada, the U.S., U.K. and Europe: to empower
our teams to identify local priorities to fund. In 2021,
we developed a robust investment strategy focusedon contributions to community Quality of Life,
Health and Wellness, Sustainability, Education andIndigenous Relations.
In 2022, we continued to build on this strategy,
supporting our employees’ participation in over
500 community partnerships, across five different
countries, for a total investment of $4.3 million.
What began in British Columbia now creates impact
across the globe.

$4.3M
100%
500

Contributed $4.3 million (USD) to prioritizedstrategic focus areas in the community
including quality of life, health and wellness,sustainability, education and strengthening
Indigenous Relations

participation across our mills
across five countries

Approximately 500 investment partnerships
with community organizations

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Inspiring Girls to be Strong, Smart and Bold
West Fraser’s Memphis employees who participatedin Girls Inc. as youth were instrumental in giving
back. Thanks to employee advocacy, West Fraser
donated $100,000 worth of lumber to be used byGirls Inc. of Memphis to construct the new Patricia
C. Howard Campus, serving more girls, changing
more lives and significantly impacting Memphis’s
future workforce.

“Girls Inc. taught me to reach for more than just what I see. They instilled in me that by
not limiting my dreams, there would be no limit to what I can achieve... It touches myheart to see that Girls Inc. is still promoting and uplifting the lives and minds of our young
women today. I’m equally proud to work for a company that’s willing to invest in the lives
and success of these young women.”
Tabatha Townsend, Transportation Analyst, West Fraser

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Investing in Education
Our education investments, selected by local
West Fraser leadership, are designed to meet regional
needs. This ranges from increasing program training
spots, upgrading facilities and purchasing equipment,or providing scholarships.

Key investments in 2022, saw $450,000 allocated tothree U.S. colleges where we hire many graduates,
including Southern Union State Community College(SUSCC) in Opelika, Alabama, University of Arkansas at
Pine Bluff and Arkansas State University Three Rivers.

To help address the shortage of skilled trades workers,
West Fraser provided a $250,000 student scholarshipand bursary contribution to the British Columbia
Institute of Technology.

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AppendixCommunity Engagement

Giving Where We Live
Quality of Life

Sustainability

Supporting the East Sutherland
Rescue Association

Blackshear Satilla Riverkeeper Donation

Our Inverness, Scotland, OSB mill team donatedSterlingOSB Zero panels to create flooring for the
East Sutherland Rescue Association’s (ESRA),
new lifeboat centre, built to mark the group’s 40th
anniversary of providing support for anyone at riskon the neighbouring coastline.

Our mill in Blackshear, Georgia donated to
the Satilla Riverkeeper organization to help
protect the Black Water River in South Georgia
and educate the public about the river andits conservation.

“We are hugely gratefulfor this kind donationfrom the West Fraser
team... It provides amassive step forward in
the creation of our new
lifeboat centre.”
Antony Hope, Volunteer Lifeboat Charity

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Health & Wellness
Chipping in at the Park
Our Ranger Board and Blue Ridge Lumber mills
donated woodchips to cover the playground at
the Sangudo Park in Alberta, giving children a newsafe place to play in their community.

Governance

Environment

SocialConclusion

AppendixBusiness of the Year“Thank you for your generous donationof wood chips... The playground looks
fantastic and as parents, we have thepeace of mind knowing the kids will besafer while playing there.”
Shelly Starman, Volunteer,
Sangudo Sports Grounds Society

Our Hinton Pulp Mill in Alberta (bottom),and Fitzgerald Mill in Georgia (top),
received Business of the Year Awards
from their communities. The awards
recognized both mills for their strong
culture of teamwork, safety, andcommunity support.

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Today’s Actions Generate
Tomorrow’s Outcomes
Everywhere we work, we work for a better future. When wood from West Fraser
becomes a home, it is part of the circle of care that includes approximately
11,000 employees across two continents that are devoted to excellence in sustainability.
Social and environmental progress is not just a metric but a pathway for future
generations—one we are proud to create together.
Here, we close with some remarks from our new employees and emerging leaders of
tomorrow to light our path forward, reinforce why sustainability matters, and help drive
focus for our performance trajectory for future generations.

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Voices From the Future“The statements in these reports arecommitments. Commitments withactions plans and a road map toa sustainable world for the next
generations. In this way, we say what wemean and do what we say.”
Josh Hoffman, Community
Engagement Coordinator, Fraser
Lake, British Columbia“In a world that is going green, we canbe leaders and innovators that can pave
the way for other industries to follow.
Thus, leaving a better and cleaner world
for generations to come.”
Patrick Voss, Project Manager
and Fire and Dust Abatement,
Bemidji, Minnesota“Actions speak louder than words.
If we do not put in the work, we will behindering the growth of our profitability,
culture, and ability to be a constantleader in our industry.”
Ranisha Brown, Kiln Supervisor,
Opelika, Alabama“As a leading manufacturer within our
industry, we should demonstrate thebenefits associated with improving
sustainability to create a better, cleaner,and sustainable future which will benefit
our business and the environment.”
Nikolas Cole, Mechanical Engineer,
Cowie, Scotland“One of the key factors in terms ofsustainability is social equity to ensure
everyone in a community has access tothe same opportunities.”
Mohammed Popal, Safety
Coordinator, Whitehouse, Florida“People should believe in the work ofsustainability at West Fraser because
it is our future… it will play a keyrole in having a profitable, healthyand sustainable future for thetrees we harvest.”
Winter Thorington, Procurement
Forester, Opelika, Alabama“While many people consider theforest management and reforestation
aspects of West Fraser to showcase
sustainability, they must also understandWest Fraser’s positive impact on making
communities more sustainable.”
Tomas Cimolai, Corporate
Development and Investor Relations
Analyst, Vancouver, British Columbia“By fostering a sustainability culture,
we create a safer, productive, andknowledgeable workforce.”
Destini Buckner, Process Reliability
Engineer, Newberry Lumber
Mill, South Carolina“Embracing sustainability allows people
to actively contribute to creating a better
future for themselves and the planet.”
Carlos Gracia Garcia, Maintenance Planner, Nacogdoches, Texas

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Appendix

Consolidated SASB and GRI Index
The disclosure in this report is primarily informed by applicable Sustainability Accounting Standards Board (SASB) disclosure requirements related to the following sectors:
Consumer Goods Sector Building Products & Furnishings, Forest Management, Pulp & Paper products. As SASB does not address the entirety of our material ESG topics,
we complement it with disclosure guidance from the following Global Reporting Initiative (GRI) standards: anti-competitive behavior, anti‑corruption, child labour, diversity
and equal opportunity, emissions, employment, energy, forced or compulsory labour, freedom of association and collective bargaining, local communities, materials,
non‑discrimination, occupational health and safety, public policy, training and education and waste.
GRI or SASB Standard

Disclosure

Category

Location and Comments

GRI

2-09: Governance structure and composition

Qualitative

See “Our Sustainability Governance Framework” on page 20
For more information, please refer to our Corporate Governance
Policy.

GRI

2-19: Remuneration policies

Qualitative

See “Embedding Sustainability” on page 18
For more information on Executive Compensation, please refer to our2023 Management Information Circular.

GRI

2-20: Process to determine remuneration

Qualitative

See “Embedding Sustainability” on page 18
For more information on our approach to Executive Compensation(Say on Pay) please refer to our 2023 Management Information
Circular.

GRI

2-26: Mechanisms for seeking advice and raising concerns

Qualitative

See “Embedding Sustainability” on page 18
For more information on Whistleblower Protection, please refer tosection 16 of our Code of Conduct.

General Disclosures

Topic-Specific Disclosures
Material Topic(s): Business Ethics
GRI

205-1: Operations assessed for risks related to corruption

Qualitative

See “Embedding Sustainability” on page 18
For more information on Anti-corruption, please refer to section 8 of
our Code of Conduct.

GRI

205-2: Communication and training about anti-corruption policies andprocedures

Qualitative

See “Embedding Sustainability” on page 18
For more information on Anti-corruption, please refer to section 8 of
our Code of Conduct.

GRI

206-1: Legal actions for anti-competitive behaviour, anti-trust, andmonopoly practices

Qualitative

See “Embedding Sustainability” on page 18
For more information on Antitrust, please refer to our Antitrust
Compliance Guide.

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GRI or SASB Standard

Introduction

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Environment

SocialConclusion

Appendix

Disclosure

Category

Location and Comments

GRI

406-1: Incidents of discrimination and corrective actions taken

Qualitative

See “Embedding Sustainability” on page 18
For more information on Discrimination and Harassment, please referto section 5 of our Code of Conduct.

GRI

408-1: Operations and suppliers at significant risk for incidents of childlabourQualitative

See “Our Sustainability Governance Framework” on page 20
West Fraser requires suppliers and contractors adhere to the Human
Rights laws in Canada, the U.S., Europe and the U.K.
For more information on Human Rights, please refer to section 5 of
our Code of Conduct.

GRI

409-1: Operations and suppliers at significant risk for incidents offorced or compulsory labour

Qualitative

See “Our Sustainability Governance Framework” on page 20
West Fraser requires suppliers and contractors adhere to the Human
Rights laws in Canada, the U.S., Europe and the U.K.
For more information on Human Rights, please refer to section 5 of
our Code of Conduct.

Material topic(s): Climate Action
GRI

302-2: Energy consumption outside of the organization

Quantitative

See “Indirect energy consumption” on page 73

GRI

305-4: GHG emissions intensity

Quantitative

See “GHG Emissions Intensity” on page 70

SASB: Pulp & Paper
Products

RR-PP-110a.1: Gross global Scope 1 emissions

Quantitative

See “Greenhouse Gas (GHG) Emissions” on page 69

GRI

305-2: Energy indirect (Scope 2) GHG emissions

Quantitative

See “Greenhouse Gas (GHG) Emissions” on page 69

GRI

305-3: Other indirect (Scope 3) GHG emissions

Quantitative

See “Greenhouse Gas (GHG) Emissions” on page 69

SASB: Pulp &Paper Products;
Building Products &Furnishings

RR-PP-130a.1; CG-BF-130a.1: (1) Total energy consumed,(2) percentage grid electricity, (3) percentage from biomass,(4) percentage from other renewable energy

Quantitative

See “Total energy consumption (direct and indirect)” on page 72

SASB: Pulp & Paper
Products

RR-PP-110a.2: Discussion of long-term and short-term strategy orplan to manage Scope 1 emissions, emissions reduction targets, andan analysis of performance against those targets

Qualitative

See “Reaching our SBTi Goals” on page 25

SASB: Pulp & Paper
Products

RR-PP-120a.1: Air emissions of the following pollutants: (1) NOx(excluding N2O), (2) SO₂, (3) volatile organic compounds (VOCs),(4) particulate matter (PM), and (5) hazardous air pollutants (HAPs)

Quantitative

See “NOx, SO₂ and Other Emissions” on page 71

SASB: Forestry
Management

RR-FM-450a.1: Description of strategy to manage opportunities forand risks to forest management and timber production presented byclimate change

Qualitative

See “Mitigating Climate Risk” on page 28

65

2022 Sustainability Report

GRI or SASB Standard

Introduction

Disclosure

Governance

Environment

Category

Location and Comments

SocialConclusion

Appendix

Material topic(s): Water Use & Effluent
GRI

303-4: Water discharge

Quantitative

See “Total Water Returned” on page 74

SASB: Pulp & Paper
Products

RR-PP-140a.1: (1) Total water withdrawn, (2) total water consumed,
percentage of each in regions with High or Extremely High Baseline
Water Stress

Quantitative

See “Water” on page 74

Material topic(s): Sustainable Forest Management
GRI

304-2: Significant impacts of activities, products and services on
biodiversity

Qualitative

See “Biodiversity” on page 27
See “Forest Resiliency” on page 30

SASB: Forestry
Management

RR-FM-160a.2: Area of forestland with protected conservation status

Qualitative

See “Forest Management” on page 77

SASB

RR-FM-160a.4: Description of approach to optimizing opportunities
from ecosystem services provided by forestlands

Qualitative

See “Forest Resiliency” on page 30
See “Embracing Circularity” on page 36

Material topic(s): Residuals and Waste
GRI

306-3: Waste generated

Quantitative

See “Residuals & Waste” on page 75

SASB: Building
Products &Furnishings

CG-BF-250a.1: Discussion of processes to assess and manage risks
and/or hazards associated with chemicals in products

Qualitative

See “Embracing Circularity” on page 36

SASB: Building
Products &Furnishings

CG-BF-410a.1: Description of efforts to manage product lifecycle
impacts and meet demand for sustainable products

Qualitative

See “Embracing Circularity” on page 36
See “Products and Innovation” on page 38

SASB

RR-PP-430a.2: Amount of recycled and recovered fiber procured

Quantitative

See “Residual Fibre Consumption” on page 76

SASB

CG-BF-410a.2: (1) Weight of end-of-life material recovered,(2) percentage of recovered materials recycled

Quantitative

See “Residuals & Waste” on page 75

Material topic(s): People Development
GRI

404-1: Average hours of training per year per employee

Quantitative

See “Investing in Growth” on page 43

GRI

404-2: Programs for upgrading employee skills and transition
assistance programs

Qualitative

See “Investing in Growth” on page 43
See “People Excellence” on page 46

GRI

407-1: Operations and suppliers in which the right to freedom of
association and collective bargaining may be at risk

Quantitative

See “Collective Bargaining Agreements” on page 81

66

2022 Sustainability Report

GRI or SASB Standard

Introduction

Disclosure

Governance

Environment

Category

Location and Comments

SocialConclusion

Appendix

Material topic(s): Health and SafetyGRI

403-1: Occupational health and safety management system

Qualitative

See “A Core Value and Business Priority” on page 41

GRI

403-9: Work-related injuries

Quantitative

See “Work-Related Injuries” on page 85

Material topic(s): Diversity, Equity and Inclusion
GRI

405-1: Diversity of governance bodies and employees

Quantitative

See “Workforce by Employee Category” on page 80
See “Board Composition” on page 68

GRI

405-2: Ratio of basic salary and remuneration of women to men

Quantitative

See “Remuneration and Wages” on page 81

Qualitative

See “Reconciliation, Relationships, Reciprocity” on page 52
See “Investing in Our Communities” on page 57

Material topic(s): Community ResilienceGRI

413-1: Operations with local community engagement, impact
assessments, and development programs

Material topic(s): Indigenous Rights & Reconciliation
SASB: Forestry
Management

RR-FM-210a.1: Area of forestland in indigenous land

Quantitative

See “Forest Management” on page 77

SASB: Forestry
Management

RR-FM-210a.2: Description of engagement processes and due
diligence practices with respect to human rights, indigenous rights,
and the local community

Qualitative

See “Reconciliation, Relationships, Reciprocity” on page 52
See “Investing in Our Communities” on page 57

Material topic(s): Responsible Sourcing
SASB

RR-PP-430a.1: Percentage of wood fiber sourced from (1) third-party
certified forestlands and percentage to each standard and (2) meetingother fibber sourcing standards and percentage to each standard

Quantitative

See “Fibre Sourcing Certification” on page 75

SASB

CG-BF-430a.1: (1) Total weight of wood fiber materials purchased,(2) percentage from third-party certified forestlands, (3) percentage bystandard, and (4) percentage certified to other wood fiber standards,(5) percentage by standard

Quantitative

See “Fibre Sourcing Certification” on page 75

SASB

RR-FM-160a.1: Area of forestland certified to a third-party forest
management standard, percentage certified to each standard

Quantitative

See “Forest Management” on page 77

67

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Appendix

Governance
Unit of Measurement

2022

2021

2020

GRI Code

Number11

12

10

2-9, 405-1

Executive

1

1

1

Independent

10

11

9

Percentage

45%

42%

20%

Number

11

12

10

Men

6

7

8

Women

5

5

2

Disabled000Disclose a racial/ethnic identity

0

0

0

Indigenous

0

0

0

SASB CodeBoard of Directors
Total Board Members

Percentage of female board members
Board Composition

Executive Leadership
Executive Composition

405-1
Number

18

18

10

Men

16

17

10

Women

2

1

0

Disclose a racial/ethnic identity

1

1

0

Indigenous

0

0

0

Black+

1

1

0

Disabled000Note on Comparative Historical Data: Where available, we include comparative historical data to demonstrate trends. Historical data is reported based on the scopeof the report for the respective year. In our efforts to continually improve our annual reporting process, the interpretation and reporting will align with the best available
methodology at the time of report publication. Certain comparative amounts for prior years have been reclassified or restated to conform to the presentation adopted for thisreporting period.
682022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Appendix

Environment
Environment

Unit of Measurement

2022

2021

2020

GRI Code

SASB CodeThousand Metric tonnes (t) CO₂e

2,047†

2,332

2,232

305-1, 305-2,
305-3, 305-4,
305-5, 305-7

RR-PP-110a.1,
CG-BF-250a.2

Canada

1,339

1,553

1,492

U.S.

644

650

614

Europe65

Air Emissions
Greenhouse Gas (GHG) Emissions*
Direct and Indirect (Energy) Emissions(Scope 1 and 2)

Direct GHG Emissions (Scope 1)

Thousand Metric tonnes (t) CO₂e

1,155

1,039

707

777

684

U.S.

276

287

263

Europe65
Thousand Metric tonnes (t) CO₂e

999

91
†

1,177

92
†

1,193

Canada

632

776

807

U.S.

367

363

351

Europe038

35

9,401‡

10,038

9,776

3,113

3,769

3,493

Category 1 — Purchased Goods and Services

1,326

1,507

1,399

Category 2 — Capital Goods

456

445

250

255

352

312

Other Indirect GHG Emissions (Scope 3)
Upstream Emissions

Thousand Metric tonnes (t) CO₂e§

Category 3 — Fuel and energy related activities

§

1,049

127
†

CanadaIndirect GHG Emissions (Scope 2)

*
†
‡

129
†

Following the GHG protocol, we use the equity share approach when accounting for emissions. Under the equity share approach, a company accounts for GHG emissions from operations according to its share of equity in the operation.
Indicates externally assured.
West Fraser piloted the Greenhouse Gas Protocol’s Land Sector and Removals Guidance (LSRG) currently under development (EDC June 2024). Until this guidance is released West Fraser’s supply chain quantification will not be complete. Despite this, The ScienceBased Targets initiative requires estimates for all possible scope 3 categories enabling target approval. Several Scope 3 categories were including in our reduction commitment using calculator tools that will improve under the completed LSRG. These categories
include, Category 10: Processing of Sold Products, Category 11: Use of Sold Products, and Category 12: End-of-life treatment of sold products. To meet the requirements of the SBTi we are using estimates for these categories with the best tools available to us.
We have chosen not to verify this subset of categories until the LRSG has been released and West Fraser is able to properly quantify its entire supply chain. The Scope 3 total subject to verification in 2022 amounted to 3,157 ktCO2e which includes the consolidated
total of categories 1, 2, 3, 4, 5 and 9.
To improve confidence in this emission estimate, the calculation methods will be updated over time and as supplier emission information is available.

69

2022 Sustainability Report

Environment

Introduction

Environment

2022

2021

2020

Category 4 — Upstream Transportation

1,016

1,353

1,378

Category 5 — Waste¶

36

88

131

Category 6 — Business Travel

5

5

4

Category 7 — Employee Commuting

19

19

19

6,288

6,269

6,283

Category 9 — Downstream Transportation

68

46

55

Category 10 — Processing of Sold Products

3,152

3,155

3,195

Category 11 — Use of Sold Products

55

47

50

Category 12 — End of Life Treatment of Sold
Products

3,013

3,021

2,983

0.47630.48860.4806

Canada0.45170.47560.4600U.S.

0.51980.5222

0.5246

Europe0.31780.39570.39130.0852

0.09290.0893

Canada0.11040.11280.1096

U.S.

0.06200.0661

0.0634

Europe0.04250.07280.0751

0.0436

0.04600.0415

Canada0.05830.05640.0503

U.S.

0.02660.03000.0272Europe0.04250.05140.05440.0416

0.04690.0478Canada0.0521

0.05630.0593

U.S.

0.03540.03800.0362Europe0.00000.02140.0207

Downstream Emissions

Unit of Measurement

GovernanceThousand Metric tonnes (t) CO₂e

SocialGRI Code

Conclusion

Appendix

SASB CodeGHG Emissions Intensity
Total Emissions Intensity (Scopes 1, 2 and 3)

Direct and Indirect (Energy) Emissions Intensity(Scopes 1 and 2)

Direct Emission Intensity (Scope 1)

Indirect (Energy) Emissions Intensity (Scope 2)¶

Tonne CO₂e / m³

Tonne CO₂e / m³

Tonne CO₂e / m³

Tonne CO₂e / m³

Our low confidence in the waste emissions estimate will increase over time as our systems and methods of tracking waste improves.

70

2022 Sustainability Report

Introduction

Governance

Environment

Environment

Unit of Measurement

2022

2021

2020

Other Indirect GHG Emissions Intensity (Scope 3)

Tonne CO₂e / m³

0.39110.39570.3913

Canada0.34130.36280.3504

U.S.

0.45780.4542

0.4612Europe0.27530.27900.2658283,884-96,089

1,947

GHG Absolute Reductions(Scope 1 and 2) Year over YeartCO₂eNOx, SO₂ and Other Emissions

4,361

5,155

2020 data
was reported
by productsegment

2,146

2,210

—

1,849

1,345

—

U.S.

1,791

1,014

—

Europe

424

586

—

455

1,440

2020 data
was reported
by productsegment

206

205

—

720

972

—

U.S.

230

131

—

Europe

20

132

—

4,344

4,149

2020 data
was reported
by productsegment

2,429

2,271

—

1,186

981

—

U.S.

1,832

794

—

Europe83

104—

Nitrous Oxide (NOx ) Total

Metric tonnes (t)CanadaPulp & Paper

Sulphur Oxide (SO₂) Total

Metric tonnes (t)CanadaPulp & Paper

Particulate Matter (PM) Total
CanadaPulp & Paper

Metric tonnes (t)SocialConclusion

Appendix

GRI Code

SASB Code305-7

RR-PP-120a.1

71

2022 Sustainability Report

Environment

Introduction

2020

10,2478,043

2020 data
was reported
by productsegment

2,622

3,376

—

337

365

—

U.S.

6,395

2,960

—

Europe

1,230

1,342

—

1,775

2,082

2020 data
was reported
by productsegment

1,062

966

—

661

606

—

U.S.

601

315

—

Europe

112

195

—

93,658,289

103,218,114

94,848

Total Renewable Energy

68,877,331

77,532,999

71,052

Total Non-renewable sources

24,780,958

25,685,116

23,79681,875,963

91,432,230

87,179Canada46,804,459

53,390,153

47,016

U.S.

28,745,353

30,254,449

30,128Europe6,326,150

7,787,628

6,035

17,872,337

18,836,505

16,938Natural gas

16,733,520

17,669,260

15,806

LPG (Propane)

76,02984,76189

Gasoline

41,671

43,63076

Diesel

1,015,961

1,017,261

940

Fuel Oil

5,157

0

0

Metric tonnes (t)CanadaPulp & Paper

Hazardous Air Pollutants (HAPs) total byGeography

Metric tonnes (t)CanadaPulp & Paper

2022

Environment

2021

Volatile Organic Compounds (VOC) Total

Unit of Measurement

GovernanceSocialConclusion

Appendix

GRI Code

SASB Code302-1, 302-2,
302-3

CG-BF-130a.1

EnergyTotal energy consumption (direct and indirect)

Direct energy consumption

Non-renewable sources

Gigajoules (GJ)

Gigajoules (GJ)

Gigajoules (GJ)

72

2022 Sustainability Report

Introduction

Governance

Environment

Environment

Unit of Measurement

2022

2021

2020

Renewable sources

Gigajoules (GJ)

64,003,626

72,631,709

66,271

Biomass

53,515,548

59,927,039

52,843

Canada24,249,799

28,321,380

22,739U.S.

23,968,199

25,297,925

25,749Europe5,297,551

6,307,734

4,355

Pulping Liquor

10,217,428

12,426,373

13,112

Canada10,217,428

12,426,373

13,112

U.S.

0

0

0

Europe000241,238

235,590258

Canada241,238

235,590

258

U.S.

0

0

0

Europe00029,41142,707

58

Canada29,41142,707

29

U.S.

0

0

29

Europe00011,782,327

11,785,885

8,902

6,908,621

6,951,073

4,091

Canada3,731,463

3,888,624

1,064

U.S.

2,804,379

2,695,187

2,649Europe372,779

367,263378

4,873,706

4,834,812

4,810

Canada4,250,042

4,213,944

4,268

U.S.

411,952

380,569355

Europe211,711240,299

187

Biogas

Crude sulfate turpentine, crude tall oil, CNCG

Indirect energy consumption
Non-renewable electrical grid power

Renewable electrical grid power

Gigajoules (GJ), thousands

SocialGRI Code

Conclusion

Appendix

SASB Code732022 Sustainability Report

Environment

Introduction

2020

3.90

4.11

2020 data
was reported
by productsegment

Canada

4.52

4.46

—

U.S.

3.08

3.49

—

Europe

4.55

4.74

—

66

94

93

Canada

65.24

91

92.7

U.S.

0.87

2

0.6

Europe

0.03

1

—

64

84

92

6

11

11

Process water

6.20

10.52

11.07

Non-contact cooling water

0.06

0.11

0.11

58

73

81

Process water

47.30

61.59

70.05

Non-contact cooling water

10.41

11.66

10.46

Percent total (%)

96

97

94

Million cubic metres (m³)

61.94

87

87

Million cubic metres (m³)

66

93

93

65.23

90.30

92.82

Lumber

0.37

0.41

0.02

Engineered Wood

0.28

0.44

0.2

Pulp

64.58

89.45

92.6

U.S.

0.87

2

0.6

Europe0.03

10Gigajoules (GJ) / m³

2022

Environment

2021

Total Energy Intensity

Unit of Measurement

GovernanceSocialConclusion

Appendix

GRI Code

SASB Code

303-3, 303-4,
303-5

RR-PP-140a.1

Water**
Total Water Withdrawal by Geography

Pulp Operations Segemented Water
Reporting by source

Million cubic metres (m³)

Million cubic metres (m³)

Groundwater

Surfacewater

Total Water Returned
Canadian pulp & paper operations
Water Consumed in operations by Geography
Canada**Starting in 2022, we leveraged an equity share approach when accounting for water use at our Canadian joint-venture operations.

742022 Sustainability Report

Environment

Introduction

Unit of Measurement

2022

2021

Governance

Environment

SocialConclusion

Appendix

2020

GRI Code

SASB Code11,411.8

306-3, 4, 5

CG-BF-410a.2

301-2

CG-BF-430a.1,
CG-BF-410a.2
RR-FM-160a.1

Residuals & Waste
Total Waste Generated

Metric Tonnes (thousand)

Waste Diverted from Disposal

Metric Tonnes (thousand)

Beneficial reuse

5391.1

5,439.72

9,280.049

Recovered residuals: material for value-added
wood products (such as MDF, pulp), and otherbeneficial reuse (agriculture, landscaping)

1,057.43

1,755.72

5,634.8

Recovered for energy (biomass)

4,333.68

3,684

3,644.5

0.77

0.995

0.749

200

411

490

Canada

83

221

172

U.S.

110

184

318

Europe7

6

not reported

Recycled materials (including metal, cardboard,paper, and take-back programs)
Waste Generated

Metric Tonnes (thousand)Fibre Supply
Sustainable Materials

Total Weight of Wood Materials Sourced(whole logs)

35

36

Not reported

Canada14.8

16.8

not reported

U.S.

18.8

17.1

not reported

Europe

1.9

2.4

not reported

Canada

100%

100%

100%

U.S.

100%

100%

100%

Europe100%

100%

not reported

Fibre Sourcing Certification

Tons (millions)

Percentage (%)

Fibre Certified to a Third-Party Standard for
Sourcing††††

Excludes operations that are recently aquired/started-up and have not yet been added to our certificate.

75

2022 Sustainability Report

Environment

Introduction

Unit of Measurement

Governance

Environment

2022

2021

2020

Canada

91%

80%

83%

U.S.

24%

25%

27%

Europe0%0%0%Canada

85%

25%

22%

U.S.

23%

not reported

74%

Europe

N/A

N/A

N/A

Canada

5%

5%

5%

U.S.

3%

0%

0%

Europe

100%

N/A

N/A

22.9

17.3

5,634.8

SocialGRI Code

Conclusion

Appendix

SASB CodeFibre Sourced from Sustainable Forestry Initiative(SFI®) Certified Forestlands

Fibre certified to Sustainable Forestry Initiative(SFI®) Fibre Sourcing

Fibre certified to Forest Stewardship Council(FSC®)or PEFC™ Controlled Wood/Sources

Residual Fibre Consumption
Recovered fibre: residuals for value-added /co‑products (MDF, pulp)
Pre-consumer recovered fibre: Residuals forvalue‑added wood products (MDF, pulp)

Tons (millions)

762022 Sustainability Report

Environment

Introduction

Unit of Measurement

2022

2021

Governance

Environment

2020

SocialConclusion

Appendix

GRI Code

SASB Code304-1, 3

RR-FM-000.A,
B, C
RR-FM160a.1, 2

Forest Management & Biodiversity
Forest Management

Millions of Acres

CanadaArea of forestland managed

25

26

21

100%

100%

100%

Annual Allowable Cut (long and short-term licences)

11,91912,508

13.18

Total timber volume harvested fromdirectly‑managed tenures

0.09

0.12

8.68

42%

45%

40%

Area of forestland with protected conservation
status2

0.6

not reported

Area of forestland in Indigenous land25

26

not reported

Directly-managed forest land certified to asustainable forest management standard(Sustainable Forestry Initiative (SFI®) Forest
Management Standard — PRI-SFI-FM-010)

Harvested volume as a percentage of area
directly‑managed

Reforestation

percentage

percentage

Percentage (%)

304-3

CanadaSeedlings planted (West Fraser held)

total number (millions)

Native seedlings/seeds
Harvested area planted within two years

hectares

Harvest sites meeting forest establishment targets
within 5 years of harvest

66

70

68

100

100

100

8,575

9,325

not reported

98

98.61

99.40

Planted seedlings per hectare (average across allplanting areas)

hectares

1,446

1,520

1,300

Natural regeneration (average stems per hectare
surveyed 10-15 years post-harvest)

hectares

9,855

8,647

2,500

100

100

100

33.15

13.27

8.36

Harvest sites re-established as forests
Investments in forestry research, scienceand technology

Canadian ($) (millions)

772022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

AppendixSocialOur People

Unit of Measurement

2022

2021

2020

Employees
Total Workforce

GRI Code

SASB Code

2-7, 8, 405-1
Number11,249

11,144

10,625Full Time

98.9%

98.7%

98%

Part Time

1.1%

1.3%

2%

Men

86.2%

86.6%

87%

Women

13.8%

13.4%

14%

Disclose a racial/ethnic identity

23.7%

22.6%

20%

Ages <30

18.3%

18.5%

17%

Ages 30-50

45.4%

44.9%

44%

Ages 50+

36.3%

36.5%

39%

115

217

154

Men

68.7%

73.7%

68%

Women

31.3%

26.3%

32%

Canada

76.5%

49.8%

73%

U.S.

9.6%

8.8%

8%

Europe

13.9%

41.5%

19%

Contract Employees and Students
Total

By Region

Number

Percentage

78

2022 Sustainability Report

Our People

Introduction

Unit of Measurement

2022

2021

Governance

Environment

2020

Workforce by Region

SocialGRI Code

Conclusion

Appendix

SASB Code

2-7, 405-1

CanadaPercentage

52.8%

54.6%

57%

Total

Number

5,938

6,086

6,017

Men

82%

82.4%

82%

Women

18%

17.6%

18%

Disclose a racial/ethnic identity

16.6%

15.9%

14%

Indigenous

8.1%

7.6%

7%

Ages <30

16.9%

18%

17%

Ages 30-50

46.3%

45.4%

44%

Ages 50+

36.8%

36.7%

39%

United States

Percentage

40.2%

38.3%

36%

Total

Number

4,525

4,266

3,819

Men

90.9%

91.7%

92%

Women

9.1%

8.3%

8%

Disclose a racial/ethnic identity

36.8%

36.1%

35%

Black

29.6%

29.3%

31%

Latinx

5.4%

5.3%

3%

Ages <30

20.5%

20.1%

17%

Ages 30-50

44.8%

44.6%

44%

Ages 50+

34.7%

35.3%

39%

EuropePercentage

7%

7.1%

8%

Total

Number

786

792

800

Men

90.6%

91.9%

92%

Women

9.4%

8.1%

8%

Disclose a racial/ethnic identity

2.2%

1.9%

not reported

Ages <30

15.6%

14.4%

14%

Ages 30-50

42.4%

43.7%

44%

Ages 50+

42%

41.9%

43%

79

2022 Sustainability Report

Our People

Introduction

Unit of Measurement

2022

2021

Governance

Environment

2020

Workforce by Employee Category*

SocialGRI Code

Conclusion

Appendix

SASB Code405-1

Senior Management Composition*

Percentage

1.7%

1.6%

3%

Senior Management Workforce

Number

185

174

307

Men

88.1%

86%

86%

Women

11.9%

14%

14%

Disclose a racial/ethnic identity

5.9%

8.8%

3%

Ages <30

0%

0%

0%

Ages 30-50

31.9%

33.3%

38%

Ages 50+

68.1%

66.7%

61%

Salaried Composition

Percentage

23.4%

22.6%

22%

Salaried Workforce

Number

2,587

2,481

2,349

Men

72.1%

72.6%

75%

Women

27.9%

27.4%

25%

Disclose a racial/ethnic identity

15.7%

15%

11%

Ages <30

10.9%

10.8%

10%

Ages 30-50

47%

46.6%

45%

Ages 50+

42.1%

42.6%

45%

Hourly Composition

Percentage

76.6%

77.4%

72%

Hourly Workforce

Number

8,477

8,492

7,608

Men

90.4%

90.7%

90%

Women

9.6%

9.3%

10%

Disclose a racial/ethnic identity

26.6%

18.2%

24%

Ages <30

20.9%

21.2%

20%

Ages 30-50

45.2%

44.7%

45%

Ages 50+

33.8%

34.1%

36%

Senior Management is defined as General Managers through to Executive Vice-Presidents.

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2022 Sustainability Report

Our People

Introduction

Unit of Measurement

2022

Governance

2021

Environment

2020

Remuneration and Wages

SocialConclusion

GRI Code

Appendix

SASB Code202-1, 405-2

Entry level minimum wage compared to local minimum wage†
By Region

Ratio

Canada1.5 : 1†

1.8 : 1

1.9 : 1U.S.

2.1 : 1†

1.9 : 1

1.9 : 1U.K.

1.5 : 1†

1.4 : 1

1.4 : 1

Belgium

1.5 : 1†

not reported

not reported

Men:Women

Men:Women

Men:Women

Average salary

1:1

1 : 0.94

1 : 0.86

Median salary

1 : 1.1

1:1

1 : 0.88

Average salary

1 : 0.78

1 : 0.76

1 : 0.82

Median salary

1 : 0.76

1 : 0.72

1 : 0.80

Average salary

1 : 0.85

1 : 0.87

1 : 0.91

Median salary

1 : 0.88

1 : 0.89

1 : 0.97

By Employee Category

Ratio

Executive & Senior Leadership

Salaried Roles‡

Hourly Roles‡

Collective Bargaining Agreements

2-30

Employees covered by collective bargaining agreements
By Region†‡

Percentage

28.3%

31.5%

37%

Canada

60.4%

54.7%

37%

U.S.

23.2%

29.3%

36%

Europe16.4%

16%

not reported

Comparison of the entry level minimum wage compared to the government set minimum wage rate for that country.
Quebec hourly employees are not included.

812022 Sustainability Report

Our People

Introduction

Unit of Measurement

2022

2021

Governance

Environment

2020

New Employee Hires
Total Hires

SocialGRI Code

Conclusion

Appendix

SASB Code

401-1
Number

1,719

1,673

1,203

Men

83.1%

84.3%

85%

Women

16.9%

15.7%

15%

Disclose a racial/ethnic identity

28.6%

27.4%

16%

Ages <30

44.7%

44.9%

45%

Ages 30-50

42.9%

43.8%

43%

Ages 50+

12.4%

11.2%

11%

Hires by Region
CanadaPercentage

36.2%

39.9%

43%

Total

Number

623

667

513

Men

75.9%

76.5%

75%

Women

24.1%

23.5%

25%

Disclose a racial/ethnic identity

14.1%

18.6%

10%

Ages <30

48.8%

48.6%

49%

Ages 30-50

42.5%

41.8%

41%

Ages 50+

8.7%

9.6%

10%

United States

Percentage

58.4%

55.9%

50%

Total

Number

1,004

935

603

Men

87.8%

90.4%

93%

Women

12.2%

9.6%

7%

Disclose a racial/ethnic identity

40%

35.8%

24%

Ages <30

43.4%

43.3%

44%

Ages 30-50

42.9%

45.8%

43%

Ages 50+

13.6%

10.9%

13%

82

2022 Sustainability Report

Introduction

Governance

Environment

Our People

Unit of Measurement

2022

2021

2020

EuropePercentage

5.4%

4.2%

7%

Total

Number

92

71

87

Men

80.4%

77.5%

89%

Women

19.6%

22.5%

11%

Disclose a racial/ethnic identity

2.2%

not reported

not reported

Ages <30

30.4%

32.4%

29%

Ages 30-50

44.6%

36.6%

59%

Ages 50+

25%

31%

13%

Employee TurnoverSocialGRI Code

Conclusion

Appendix

SASB Code401-1

Total Employee Turnover by Region

2,230

2,166

1,908

CanadaPercentage

40.5%

42.2%

39.5%

Total

Number

903

914

754

Men

77.5%

73.5%

77.1%

Women

22.5%

26.5%

22.9%

Ages <30

36.3%

40.4%

36.3%

Ages 30-50

36.2%

30.4%

25.3%

Ages 50+

27.5%

29.2%

38.3%

United States

Percentage

52.9%

52.5%

56.5%

Total

Number

1,180

1,137

1,078

Men

92%

90.8%

93.7%

Women

8%

9.2%

6.3%

Ages <30

38.8%

38.1%

39.5%

Ages 30-50

41.1%

40.5%

40.2%

Ages 50+

20.1%

21.4%

20.3%

83

2022 Sustainability Report

Introduction

Governance

Environment

Our People

Unit of Measurement

2022

2021

2020

EuropePercentage

6.6%

5.3%

4%

Total

Number

147

115

76

Men

84.4%

83.5%

86.8%

Women

15.6%

16.5%

13.2%

Ages <30

16.3%

20.9%

14.5%

Ages 30-50

36.7%

43.5%

38.2%

Ages 50+

46.9%

35.7%

47.4%

1,829

1,740

1,042

Men

85%

82.6%

84.2%

Women

15%

17.4%

15.8%

Canada

43.4%

44.9%

55.3%

U.S.

49%

48.8%

38.8%

Europe

7.6%

6.3%

6%

401

427

866

Men

88.3%

85%

90.4%

Women

11.7%

15%

9.6%

Canada

27.4%

31.1%

20.6%

U.S.

70.6%

67.4%

77.8%

Europe

2%

1.4%

1.6%

Total Voluntary Turnover

Number

By Gender

Percentage

By Region

GRI Code

Conclusion

Appendix

SASB Code

Percentage

Total Involuntary turnover

Number

By Gender

Percentage

By Region

SocialPercentage

842022 Sustainability Report

Health & Safety

Introduction

Unit of Measurement

2022

2021

Governance

2020

Work-Related Injuries
Total by Region

190

212

Canada

162

117

122

U.S.

71

70

81

Europe839NumberRecordable Injury Rate
1.69

1.94

Canada

2.7

1.96

2.11

U.S.

1.4

1.56

1.8

Europe

0.97

0.39

1.31

Rate

Lost Time Incidents
62

93

Canada

47

43

61

U.S.

15

18

27

Europe2

15NumberRate of Lost Time Incidents

SASB Code

403-9
0.55

0.54

0.85

Canada

0.78

0.72

1.06

U.S.

0.32

0.40

0.60

Europe

0.14

0.13

0.73

Rate

High-Consequence Injuries
Fatalities

Appendix403-964

Total by region

GRI Code

Conclusion

403-9
2.07

Total by region

Social403-9
241

Total by Region

Environment

403-9
Number1

1

1

Employee010Contractor

1

0

1

85

2022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Appendix

Independent practitioner’s limited assurance report on GHG emissions
Scope 1, GHG emissions Scope 2 and GHG emissions Scope 3
To the Directors of West Fraser Timber Co. Ltd.

Our responsibility

We have undertaken a limited assurance engagement of the following Metrics(the subject matter) of West Fraser Timber Co. Ltd. (West Fraser), during the year
ended December 31, 2022, as presented within West Fraser’s 2022 sustainability
report, hosted on West Fraser’s website1:

Our responsibility is to express a limited assurance conclusion on the subject
matter based on the evidence we have obtained. We conducted our limited
assurance engagement in accordance with the International Standard on
Assurance Engagements (ISAE) 3410, Assurance Engagements On Greenhouse
Gas Statements. This standard requires that we plan and perform this engagement
to obtain limited assurance about whether the subject matter is free frommaterial misstatement.

Sustainability metric

For the year ended
December 31, 2022

1.

GHG emissions – direct (Scope 1) (kt CO₂e)

1,049

2.

GHG emissions – indirect (Scope 2) (kt CO₂e)

999

3.

GHG emissions – indirect (Scope 3) (kt CO₂e) (for the
consolidated total of categories 1, 2, 3, 4, 5 and 9)

3,157

Management’s responsibility
Management is responsible for the preparation of the subject matter inaccordance with The Greenhouse Gas Protocol: A Corporate Accounting andReporting Standard (The GHG Protocol) (the applicable criteria). Management isalso responsible for such internal control as management determines necessary
to enable the preparation of the subject matter that is free from material
misstatement, whether due to fraud or error.

1

The maintenance and integrity of West Fraser’s website is the responsibility of West Fraser; the work carriedout by PricewaterhouseCoopers LLP does not involve consideration of these matters and, accordingly,
PricewaterhouseCoopers LLP accepts no responsibility for any changes that may have occurred to the reported
information or criteria since they were posted on the website

A limited assurance engagement involves performing procedures (primarily
consisting of making inquiries of management and others within the entity, as
appropriate, and applying analytical procedures) and evaluating the evidence
obtained. Misstatements can arise from fraud or error and are considered material
if, individually or in the aggregate, they could reasonably be expected to influence
the decisions of users of our report. The procedures are selected based on our
professional judgment, which includes identifying areas where the risks of material
misstatement, whether due to fraud or error, in preparing the subject matter inaccordance with the applicable criteria are likely to arise.
Our limited assurance procedures included, but were not limited to the following:• Making enquiries of management to obtain an understanding of the overall

governance and internal control processes relevant to the identification,
management and reporting of the subject matter;• Analytical reviews and trend analysis of the subject matter; and• Performed testing on a limited sample of the underlying data of thesubject matter.

The procedures performed in a limited assurance engagement vary in nature andtiming from, and are less in extent than for, a reasonable assurance engagement
and, consequently, the level of assurance obtained is substantially lower than
the assurance that would have been obtained had a reasonable assurance
engagement been performed.
86

2022 Sustainability Report

Our independence and quality control
We have complied with the relevant rules of professional conduct/code of
ethics applicable to the practice of public accounting and related to assurance
engagements, issued by various professional accounting bodies, which
are founded on fundamental principles of integrity, objectivity, professional
competence and due care, confidentiality and professional behaviour.
The firm applies Canadian Standard on Quality Control 1, Quality Control for Firms
that Perform Audits and Reviews of Financial Statements, and Other Assurance
Engagements, and, accordingly, maintains a comprehensive system of quality
control, including documented policies and procedures regarding compliancewith ethical requirements, professional standards and applicable legal andregulatory requirements.

Introduction

Governance

Environment

SocialConclusion

Appendix

Purpose of statement and restriction on distribution and use of
our report
The subject matter has been prepared in accordance with the applicable criteria
to report and assist management of West Fraser in assessing their GHG emissions
Scope 1, GHG emissions Scope 2 and GHG emissions Scope 3 performance. As aresult, the subject matter may not be suitable for another purpose. Our report isintended solely for West Fraser Timber Co. Ltd.
We acknowledge the disclosure of our report, in full only, by West Fraser Timber
Co. Ltd. at its discretion, in West Fraser 2022’s sustainability report without
assuming or accepting any responsibility or liability to any other third party inrespect of this report.

Inherent uncertainty
Greenhouse Gas quantification is subject to inherent uncertainty because ofincomplete scientific knowledge used to determine emissions factors and thevalues needed to combine emissions of different gases. The precision of different
measurement techniques may also vary.

Chartered Professional Accountants
Vancouver, B.C.
June 21, 2023

Conclusion
Based on the procedures we have performed and the evidence we have obtained,
nothing has come to our attention that causes us to believe that West Fraser
Timber Co. Ltd.’s subject matter during the year ended December 31, 2022 is notprepared, in all material respects, in accordance with the applicable criteria.

872022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

AppendixPartners, Associations and Memberships
West Fraser believes in a layered approach to engagement. We actively participate in numerous forestry sector associations and external initiatives.
We also belong to many local business organizations, such as the chambers of commerce, across our operating communities.

Corporate Associations

Regional Forestry Associations

Global ESG Engagement Partners

882022 Sustainability Report

Introduction

Governance

Environment

SocialConclusion

Appendix

Appendix

Cautionary Note on Forward-Looking Statements
This report contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as “forward-looking
statements”). All statements other than statements of historical fact are forward-looking statements. We use words such as “expect”, “anticipate”, “plan”, “believe”, “estimate”,“seek”, “intend”, “target”, “project”, “goal’, “potential”, “focus”, “work to”, “may”, “will”, “should”, “would” and “could” or similar expressions to identify forward-looking
statements. Forward-looking statements in this report include, but are not limited to, statements relating to: our sustainability strategy, our near-term and long-term strategic
priorities and focus areas and related goals, targets, commitments and plans including our strategy to have ambitious, but credible targets with valid, verified achievable
pathways to achieve those targets, our environmental, social and governance ambitions, goals and targets and our ability to drive progress in our sustainability efforts, ouroverall growth strategy and ability to embed sustainability within it, our goal to continuously improve our environmental and social performance, our “Ambition Statement”
and “Goal Areas and Associated Targets” for material topics identified in various sections of the report, our expectations and strategies as to how and when we will meet ourgoals, targets, commitments and plans including, our SBTi commitment, statements in the section “Striving to Leadership”, the estimated timing and investment to achieve
our goals, including expected annual capital expenditures for GHG reductions projects of approximately $50 million with an overall estimate of at least $400 million before
2030, our expectation to complete a land-based emission inventory by 2024 and related annual process, our climate risk and opportunity assessment, including our plans
to update our related business strategy to manage and respond, where possible, and our plan to achieve Progressive Aboriginal Relations (PAR) gold certification by 2030.
The forward‑looking statements in this report are based on a number of estimates, projections, beliefs and assumptions the management team believed to be reasonable
as of the date of this report, though inherently uncertain and difficult to predict, including, but not limited to, expectations and assumptions concerning: the implementation,
performance and effectiveness of technology needed to achieve our sustainability goals and priorities, our access to sufficient capital and resources to undertake suchprojects and plans, the laws and regulations which will apply to our business, our ability to attract and retain skilled employees to implement our goals, targets and plans,
environmental compliance costs generally, and assumptions regarding the development of our business generally. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause the actual results, performance, experience or achievements of West Fraser to be materially different from thoseexpressed or implied by the forward-looking statements. Risks and uncertainties that could influence actual results include, but are not limited to: risks associated with climatechange and the environment, risks associated with permitting, operational problems, changes in laws and governmental regulations, environmental compliance challenges,
costs of compliance with environmental and other laws and regulation, risks relating to the development and use of new technology or lack of appropriate technologies neededto advance our goals, competition for labour and services and related shortages, natural disasters and adverse weather conditions, general business and economic conditions
and the future operation and financial performance of the Company generally. You should also carefully consider the matters discussed under “Risks and Uncertainties” inour management’s discussion and analysis for the year ended December 31, 2022, as updated in our quarterly reports from time to time and other documents available atwww.sedar.com and in public filings with the United States Securities and Exchange Commission at www.sec.gov. We caution you that the foregoing list of important risks andassumptions is not exhaustive and readers should exercise caution in relying upon forward-looking statements. The forward-looking statements speak only as of the date ofthis report and we undertake no obligation to publicly update or revise any forward‑looking statements, to reflect subsequent events or circumstances except as required byapplicable securities laws.

89

2022
Sustainability
ReportWest Fraser
Timber Co. Ltd.
604.895.2700
westfraser.com

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