Western Forest Products Tentative Agreement

What happened: Western Forest Products reached a preliminary agreement with the striking STEELworkers members. Approximately 3,000 Forestry workers and contractors on Vancouver Island, represented by USW Local 1-1937, have been unemployed since July 1 and are on strike in the event of a potential loss of pensions, seniority rights and long-term disability benefits. CBC does not yet know the details of the agreement. VANCOUVER — Western Forest Products says a preliminary agreement has been reached with the United Steelworkers union to end a strike that began just over seven months ago at the company`s Vancouver Island operations. In a statement today, Brian Butler, president of U.S. Union Local 1937, said the details of the agreement would not be made public until union members had an opportunity to review and vote on the terms of the agreement. No date has been set, but Butler said he hopes it will be done “on time.” “Western will have to do its job for them to improve the relationship with our members and we hope they will enter into this collective agreement with the intention of doing so,” he said. This press release contains statements that may constitute forward-looking statements within the meaning of applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking statements. All statements contained therein, except statements of historical fact, may be forward-looking statements and can be identified by the use of words such as “becomes”, “may”, “expect” and similar references to future periods.

Although these statements reflect management`s current beliefs, expectations and reasonable assumptions, there can be no guarantee that the forward-looking statements are accurate and that actual performance or results may differ significantly. Many factors could cause our actual results or performance to differ materially, including strike activity, the inability to predict the results of such activity, the ratification of an agreement in principle, the timing that may be used to resolve a labour dispute, a change in the Company`s financial situation, general economic conditions and other factors mentioned in the section. The “risks and uncertainties” in our earnings report are mentioned in our 2018 Annual Report dated February 12. 2019. “(This is) the longest strike we`ve ever seen on the B.C coast. could also be the longest forest industry strike in B.C`s history,” Butler said. “It`s certainly not a goal we tried to achieve when we started.” After eight months of conflict, the longest strike in the history of coastal forests in B.C. is closer to a solution. “With the support of special mediators Vince Ready and Amanda Rogers, we have reached a fair and equitable agreement that balances the needs of our employees and our business,” said Don Demens, President and CEO of Western. “This has been a particularly difficult time and I am pleased that the efforts of all parties involved have allowed us to find common ground.” Why it matters: If ratified, the agreement would conclude an eight-month strike, B.C`s longest. .