GreenFirst Reaches Remarkable Milestone: 19 Production Records Broken in the First Quarter of 2024

TORONTO – GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) is proud to announce significant operational achievements in its sawmilling division. In the first quarter of 2024, 19 new production records were set at GreenFirst sawmills.

With unwavering commitment and a relentless pursuit of excellence, GreenFirst employees demonstrated their ability to exceed industry standards and deliver record-breaking positive results. Of the 19 production records broken in the first quarter of 2024, the Kapuskasing sawmill achieved the highest first quarter production record ever. Additionally, Chapleau Sawmill exceeded both its monthly and multi-week production records, further demonstrating the company’s relentless pursuit of innovation and operational efficiency.

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“Although we do not control the lumber market, we do control our operating metrics and we want to reassure shareholders that what we control is trending in the right direction. We remain focused on the future and have completed the development of our strategic plan, which we will publish in the second quarter. We will continue to work hard and continually improve to achieve our goals,” said Joel Fournier, CEO of GreenFirst.

The production records broken in the first quarter of this year underscore GreenFirst’s ability to improve operations while reducing costs. With a focus on maximizing productivity while maintaining the highest quality and safety standards, the company continues to set new standards for success.

Looking ahead to the remainder of the year, GreenFirst remains committed to driving innovation, fostering a culture of excellence and delivering measurable value to our customers, employees and shareholders.

GreenFirst Forest Products is a forest-focused company focused on sustainable forest management and timber production. The company owns four sawmills in rich timber baskets and proudly manages over 6.1 million hectares of FSC®-certified public forest land in Ontario (FSC®-C167905). The Company believes that responsible forestry, coupled with the long-term green advantage of lumber, provides GreenFirst with significant cyclical and long-term advantages in construction products.

For more information, please visit: www.greenfirst.ca or contact Investor Relations (416) 775 2821.