VANCOUVER, BC – Conifex Timber announced that it has completed a first amendment to credit agreement and accommodation agreement with Wells Fargo Capital Finance Corporation Canada… thereunder the Facility is secured by substantially all Conifex’s lumber business assets. …Benchmark SPF lumber prices declined 50% in 20231 which resulted in negative earnings in 2023 versus positive EBITDA of $46.7 milllion in 2022. As we progressed through 2023, our liquidity diminished, and accumulating losses made it increasingly difficult to comply with our fixed charge coverage ratio requirements under the Facility. On May 4, 2023, the Chief Forester in British Columbia permitted licensees in the Mackenzie Timber Supply Area to transition to a “green” log diet which enabled us to benefit from increased sawmill productivity, improved lumber grade outturns, and higher mill net sales price realizations.