Canfor Pulp extends curtailment by minimum of six weeks at Taylor Pulp in British Columbia, further reducing BCTMP production by at least 25,000 tonnes; company says ongoing rail transport shortages have led to high finished product inventories at mill

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VANCOUVER, British Columbia , March 30, 2022 (press release) –

Canfor Pulp Products Inc. (TSX:CFX) is announcing a minimum six-week extension of the curtailment of BCTMP production at Taylor Pulp due to the ongoing transportation shortages that have resulted in continued high finished product inventories at the pulp mill.

“Unfortunately, the ongoing rail transportation situation has not improved, and we have no choice but to extend the current production curtailment,” said Kevin Anderson, VP Operations, Canfor Pulp. “We are very disappointed in the ongoing impact this is having on our employees, their families and the community.”

The curtailment extension will further reduce the production of BCTMP by at least 25,000 tonnes.

Forward Looking Statements

Certain statements in this press release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as “expects”, “anticipates”, “projects”, “intends”, “plans”, “will”, “believes”, “seeks”, “estimates”, “should”, “may”, “could”, and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law.

About Canfor Pulp Products Inc.

Canfor Pulp Products Inc. (“Canfor Pulp” or “CPPI”) is a leading global supplier of pulp and paper products with operations in the central interior of British Columbia (“BC”) employing approximately 1,300 people throughout the organization. Canfor Pulp owns and operates three mills in Prince George, BC with a total capacity of 1.1 million tonnes of Premium Reinforcing Northern Bleached Softwood Kraft (“NBSK”) Pulp and 140,000 tonnes of kraft paper, as well as one mill in Taylor, BC with an annual production capacity of 230,000 tonnes of Bleached Chemi-Thermo Mechanical Pulp (“BCTMP”). Canfor Pulp is one of the largest North American and global producers of market northern softwood kraft pulp. CPPI shares are traded on the Toronto Stock Exchange under the symbol CFX. For more information visit canfor.com.

Media Contact:

Michelle Ward
Senior Director, Communications & GR
(604) 661-5225
communications@canfor.com

Investor Contact:

Pat Elliott
CFO and SVP, Sustainability
(604) 661-5441
Patrick.Elliott@canfor.com

Dan Barwin
Director, Corporate Finance
(604) 661-5390
Daniel.Barwin@canfor.com

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