West Fraser Announces Renewal of Normal Course Issuer Bid

Executive Summary

• West Fraser Timber Co. Ltd. received TSX approval to renew its Normal Course Issuer Bid (NCIB), authorizing the purchase of up to 3,800,917 common shares (~5% of outstanding shares).
• The renewed NCIB commences on March 24 2026 and will terminate on March 23 2027 unless all authorized shares are repurchased earlier.
• West Fraser previously purchased 1,286,185 shares at a volume‑weighted average price of US$73.47 per share under the prior NCIB.

Key Details

• Authorized Repurchase Amount: Up to 3,800,917 common shares (≈5% of 76,018,344 shares outstanding as of March 10 2026).
• Program Start / End Dates: Begins March 24 2026; ends March 23 2027 or earlier if the share limit is reached.
• Purchase Mechanisms:
• TSX and NYSE open‑market purchases in accordance with exchange rules (TSX Rule 25% of average daily volume; NYSE Rule 10b‑18).
• Private agreements or issuer‑bid exemption orders may be used, allowing purchases at a discount to market price.
• Daily Purchase Limits:
• TSX: Maximum 51,608 shares per day (25% of prior six‑month average daily volume of 206,434 shares).
• NYSE: Maximum 25% of the average daily trading volume for the four weeks preceding each purchase date.
• Cancellation of Shares: All shares purchased under the NCIB will be cancelled.
• Automatic Purchase Plan: West Fraser will establish an automatic purchase plan with a broker to execute standard instructions during non‑blackout periods; purchases during blackout periods remain at management’s discretion.
• Prior NCIB Performance: The previous NCIB (up to 3,868,177 shares) expired March 2 2026 after purchasing 1,286,185 shares at an average price of US$73.47 per share (excluding brokerage fees).

Notable Quotes

(No direct quotes were included in the release.)