Interfor is pleased to announce the appointment of Nicolle Butcher of Toronto, Ontario as an independent director of the Company, effective May 19, 2023. Ms. Butcher is the Chief Operating Officer of Ontario Power Generation (OPG), where she has held a wide range of roles with increasing responsibility over the past 22 years. She has served as Chair of the Board of both Eagle Creek Renewable Energy (OPG's US hydro subsidiary) and Atura Power (OPG's fleet of combined cycle gas plants) and as a member of the MaRS-Advanced Energy Centre Advisory Board of Directors. In 2021, Ms. Butcher was named one of Canada's Top 100 Most Powerful Women and named Women of the Year by WIRE (Women in Renewable Energy) and APPRO (Association of Power Producers of Ontario). She holds an MBA from McGill University, is a Chartered Business Valuator, and has earned an ICD.D designation from the Institute of Corporate Directors.

Ms. Butcher's appointment is a successful outcome of the Board's ongoing director succession process. Her appointment increases the number of Interfor directors to 11 and the percentage of women directors to 27%. The Company is well on track to achieve its target of at least 30% women on its Board by its next annual general meeting of shareholders in 2024.