WEST FRASER ANNOUNCES VOTING RESULTS OF THE ANNUAL SHAREHOLDERS MEETING

Rhea-AI Summary

West Fraser Timber Co. Ltd. (WFG) announced the results from its Annual General and Special Meeting held on April 18, 2023. A total of 69,696,525 shares, representing 83.41% of the outstanding shares, were voted. All director nominees were elected with significant support: Doyle N. Beneby received 99.70% of votes in favor, while Janice G. Rennie received the lowest at 95.48%. Additionally, shareholders approved the number of directors at eleven and appointed PricewaterhouseCoopers LLP as the auditor. The 'Say-on-Pay' resolution related to executive compensation garnered 93.89% support, and the amendment to the Shareholder Rights Plan passed with 73.19% approval. Detailed voting results are available on SEDAR and EDGAR.

Positive

• All director nominees were elected with high approval ratings.
• 93.89% support for executive compensation resolution demonstrates shareholder confidence.
• Appointment of PricewaterhouseCoopers LLP as auditor reflects good governance.

Negative

• None.

VANCOUVER, BC, April 18, 2023 /PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) announced the voting results from its Annual General and Special Meeting held on Tuesday, April 18, 2023 in Quesnel, BC.

Voting Results for the Election of Directors

A total of 69,696,525 Common shares and Class B Common shares were voted at the meeting, representing 83.41% of the votes attached to all outstanding shares.  Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:

Director	Votes For	% of Votes in Favour	Votes Withheld	% of Votes Withheld
Hank Ketcham	65,972,655	97.19	1,907,222	2.81
Doyle N. Beneby	67,677,147	99.70	202,731	0.30
Reid E. Carter	65,845,948	97.00	2,033,929	3.00
Raymond Ferris	67,855,089	99.96	24,788	0.04
John N. Floren	66,327,081	97.71	1,552,796	2.29
Ellis Ketcham Johnson	67,553,290	99.52	326,587	0.48
Brian G. Kenning	65,771,883	96.89	2,107,995	3.11
Marian Lawson	67,680,778	99.71	199,099	0.29
Colleen McMorrow	67,387,056	99.27	492,822	0.73
Janice G. Rennie	64,808,681	95.48	3,071,197	4.52
Gillian D. Winckler	67,418,463	99.32	461,415	0.68

Voting Results for Other Matters

Shareholders approved the fixing the number of directors at eleven (11).

Shareholders approved the appointment of PricewaterhouseCoopers LLP as auditor of the Company.

The resolution on the Company's approach to executive compensation (Say-on-Pay) as described in the Company's management information circular dated March 9, 2023 was also approved, with 93.89% of votes cast in favour.

The resolution on the amendment, restatement and continuation of the Company's Shareholder Rights Plan as described in the Company's management information circular dated March 9, 2023 was also approved, with 73.19% of votes cast in favour.

Detailed voting results for the meeting are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov/edgar.shtml.

About West Fraser

West Fraser is a diversified wood products company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe.  From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals, and renewable energy.  West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials.  For more information about West Fraser, visit www.westfraser.com.

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SOURCE West Fraser Timber Co. Ltd.

FAQ

What were the voting results for West Fraser Timber's Annual General Meeting on April 18, 2023?

West Fraser Timber Co. Ltd. reported that all director nominees were elected with significant shareholder support, with 83.41% of shares voted.

What is the stock symbol for West Fraser Timber?

The stock symbol for West Fraser Timber is WFG.

Who were elected as directors in the recent West Fraser Timber meeting?

Directors elected include Hank Ketcham, Doyle N. Beneby, and others, with Doyle N. Beneby receiving 99.70% approval.

What resolutions were approved in West Fraser Timber's April 2023 meeting?

Resolutions approved included fixing the number of directors at eleven, appointing PricewaterhouseCoopers LLP as auditor, and approving executive compensation with 93.89% support.