Conifex provides operational updates Page 1

VANCOUVER, British Columbia, Aug. 20, 2024 (GLOBE NEWSWIRE) — Conifex Timber Inc. (“Conifex,” “we” or “us”) (TSX: CFF) today announced that, in light of anticipated transportation challenges affecting all Canadian lumber producers for an indefinite period of time, coupled with pre-existing adverse market conditions, Conifex is reducing the operating hours of its Mackenzie, British Columbia site sawmill to one shift for the foreseeable future and temporarily closing its power generation facility, both effective August 26, 2024. We expect the shutdown of our power generation facility to be completed no later than September 30, 2024.

On August 18, 2024, Canadian National Railway formally notified the Teamsters Canada Rail Conference (the “union”) that it would lock out union members effective August 22, 2024. The union subsequently issued a 72-hour strike notice to Canadian Pacific Kansas City Rail.