LOUISIANA — Sumitomo Forestry announced that on March 28, 2025, the Board of Directors resolved to acquire 100% of the shares of Teal Jones Louisiana Holdings through its wholly owned subsidiary Sumitomo Forestry America, and to begin procedures to make Teal Jones a consolidated subsidiary. The acquisition will be carried out in accordance with procedures outlined under the Companies’ Creditors Arrangement Act of Canada and Chapter 15 of the United States Bankruptcy Code. It is subject to approval by the Courts of Canada and the United States. After these procedures, Sumitomo Forestry plans to complete this acquisition by the second quarter of 2025. In addition, since Teal Jones capital is more than 10% of Sumitomo Forestry’s capital, Teal Jones will become a specified subsidiary of Sumitomo Forestry.