VANCOUVER, BC (News release) -- Canfor Corporation announces our bold ambition to become a leader in sustainability, a vision that includes commitments to sustainable forestry, a stronger focus on safety, health, wellness, inclusion and diversity amongst our employees, and strengthening partnerships with Indigenous communities. Canfor is also announcing its positive final investment decision in support of the construction of the first phase of Arbios Biotech's (Arbios) innovative biomass to low carbon biofuel plant in Prince George, British Columbia. The plant will use first-of-a-kind technology to convert sawmill residues, primarily bark, into high value renewable biocrude which can be further processed in refineries to produce low-carbon transportation fuels. Arbios is a joint venture between Canfor and Licella Holdings Ltd.

"Today, we begin an ambitious sustainability journey that will change how we work and the impact we have on our communities and the planet. We imagine a future as sustainable as our forests," said Don Kayne, President and CEO, Canfor. "This is an opportunity as much as it is our responsibility. Sustainable solutions are in demand around the world. Customers consider environmental and social impact a priority when making their buying decisions. Employees want to work for a company that's protecting and nurturing their environment and communities. Together we will frame the future."

"As part of our sustainability journey, Canfor is committed to growing our business to include bio-materials and bio-innovation to support a low carbon future. Our decision, as part of the Arbios joint venture, to support investment in a state-ofthe-art biomass to low carbon biofuel plant in British Columbia is a demonstration of our commitment. We are also building a Bio-Innovation team that will unlock the full value of each log by developing and commercializing new opportunities," added Kayne.

The launch of our strategy marks a new era in sustainability for our company. Our vision of creating a future as sustainable as the forests is grounded in our deep respect for the people our business touches, the products we create and the planet we rely on to thrive. Our strategy is built on three critical pillars of People, Products, Planet and brings to life five focus areas in which the business can make the most tangible impact.