Western Forest Products Enters Into New US$30 Million Bilateral Letter of Credit Facility

VANCOUVER, British Columbia, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) announced today an amendment of its $250 million syndicated credit facility to allow for a new US$30 million bilateral letter of credit facility (the “Bilateral Credit Facility”) with Royal Bank of Canada. The Bilateral Credit Facility is guaranteed by Export Development Corporation of Canada under its Account Performance Security Guarantee program and is incremental to the Company’s existing $250 million syndicated credit facility.

About Western Forest Products Inc.

Western is an integrated forest products company building a margin-focused log and lumber business to compete successfully in global softwood markets. With operations and employees located primarily on the coast of British Columbia and Washington State, Western is a premier supplier of high-value, specialty forest products to worldwide markets. Western has a lumber capacity of 780 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities. The Company sources timber from its long-term licenses, First Nations arrangements, and market purchases. Western supplements its production through a wholesale program providing customers with a comprehensive range of specialty products.

Forward-looking Statements

This press release contains statements that may constitute forward-looking statements under the applicable securities laws. Readers are cautioned against placing undue reliance on forward-looking statements. All statements herein, other than statements of historical fact, may be forward-looking statements and can be identified by references to future periods. Although such statements reflect management’s current reasonable beliefs, expectations and assumptions, there can be no assurance that forward-looking statements are accurate, and actual results or performance may materially vary. Many factors could cause our actual results or performance to be materially different, including factors referenced under the “Risks and Uncertainties” section of our MD&A in our 2024 Annual Report dated February 13, 2025.

For further information, please contact:

Glen Nontell                         
Chief Financial Officer         
(604) 648-4500

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