CANADA - West Fraser Timber Co. Ltd. and Norbord Inc. jointly announced that the shareholders of each of West Fraser and Norbord have approved all resolutions relating to West Fraser’s acquisition of all of the issued and outstanding common shares of Norbord.

Assuming that the remaining conditions to closing are satisfied, it is expected that the closing of the Transaction will be completed on February 1, 2021. On completion of the Transaction, it is anticipated that the West Fraser Shares will be listed and trading on the New York Stock Exchange (NYSE), in addition to continuing to trade on the Toronto Stock Exchange (“TSX”), and the Norbord Shares will be delisted from the TSX and the NYSE following completion of the transaction.

Following closing, the combined company will operate as West Fraser. West Fraser will continue to be led by Mr. Ferris as Chief Executive Officer and Chris Virostek as Chief Financial Officer. Following closing, Mr. Peter Wijnbergen, currently CEO of Norbord, will be appointed President, Engineered Wood, responsible for the company’s OSB, plywood, particleboard, MDF and veneer operations. Sean McLaren, currently West Fraser’s Vice-President, U.S. Lumber, will be appointed President, Solid Wood, responsible for all of the company’s lumber operations.