Forisk Research Quarterly Examines Forest Supply Challenges and Pellet Sector Risk

Forisk Research Quarterly Examines Forest Supply Challenges and Pellet Sector Risk ATHENS, GEORGIA – July 21, 2026 – The Q3 Forisk Research Quarterly (FRQ), to be published in August 2026, will include analysis directly relevant to current timberland investors and managers concerned about changes in pulpwood markets, forest management strategies, and ownership trends.   Feature Article: Timber Trajectories in Turbulent Times The featured research in the Q3 2026 FRQ investigates forest supply changes in the U.S. South and Pacific Northwest. Challenges differ in each region, with harvesting restrictions and policy changes pressuring private timber supplies in the West, while land use conversions and pulpwood market contractions affect forest management approaches in the South. This research updates forest supply forecasts for Forisk’s timber and log price models and reviews implications for timberland owners and investors.   “The U.S. South and the West face different timber inventory concerns, though both have long-term implications for forest owners, manufacturers, and investors,” said Shawn Baker, one of the lead authors. “This quarter, as we update our Western and Southern supply forecasts, we examine how market changes over the past five years affected forest inventory accumulation and growth expectations. The research addresses questions we frequently hear from the market, such as: How impactful are policy restrictions on timber availability in the West? How are land use changes affecting timber supplies? And could struggling pulp markets change silviculture in ways that challenge pulpwood or grade supplies long-term?” Forisk Facts and Figures: U.S. South Pellet Production Forecast and Mill Risk Analysis Building on a sidebar from the 2026 Q2 edition, this quarter’s Forisk Facts and Figures - Forisk’s quarterly ‘story in three slides’ – provides a current snapshot of our U.S. South pellet production forecasts and ranks the closure risks for each Southern export-oriented pellet facility based on select factors that could affect mill margins after Western European subsidy schemes change in 2027.  For more information or to subscribe to the Forisk Research Quarterly – which includes on-call client support, sector-level analysis, price forecasts, mill updates, timberland transaction data, and access to Forisk’s Custom Market Forecast – visit www.forisk.com or contact: Nick DiLuzio, ndiluzio@forisk.com, 770.725.8447. About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mill capacities; and attending educational workshops.   Forisk Consulting | www.forisk.com

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Increased Fuel Costs Challenge Wood Fiber Markets in Q2

Increased Fuel Costs Challenge Wood Fiber Markets in Q2 ATHENS, GEORGIA – June 16, 2026 – The Forisk Wood Fiber Review (FWFR) reports a 3% decrease in U.S. weighted average pricing for roundwood and chips (combined) in Q2 2026, down 11% from Q2 2025. The same prices in Canada were up 3% for the quarter and up 1% year-over-year. Softwood roundwood prices were flat or down in all U.S. regions as buyers experienced ample supply while consuming inventory to mitigate elevated fuel costs. Residual chip prices varied across U.S. regions, down in the Northwest and Southeast and flat or up slightly in other regions. British Columbia delivered softwood roundwood prices fell 2% in Q2 due to decreased demand in spite of higher fuel prices which impacted every part of the supply chain. Hardwood roundwood prices were flat in E. Ontario/Quebec. Delivered softwood chip prices were flat in BC and E. Ontario/Quebec. According to Chris King, Product Manager of the FWFR, “Higher-cost softwood chip imports to BC from the U.S. continued to slow during Q2 with the closure of Domtar’s Crofton facility, paper mill outages, and high inventories.”   U.S. softwood roundwood prices fell 1% in the U.S. Northwest and South Central regions, while falling 7% in the Southeast. “Dry conditions in Southern Georgia led to two large wildfires that burnt more than 55k acres, increasing supply of fiber in a region reeling from paper mill closures in 2025”, noted FWFR Associate Editor, Stephen Wright. Softwood residual chip prices were down 3% in the Northwest (as reduced demand outweighed higher fuel costs) and were down 1% in the Southeast. Lake States and Northeast softwood residual chip prices were up 1% and 2% respectively. Hardwood roundwood prices fell 2% and 3% in the Southeast and South Central regions. Hardwood residual chip prices were up 4% in the South Central region. Chip supply was constrained by lower hardwood sawmill operating rates due to poor end markets. Lake States prices were up 1% while Northwest prices fell 2% due to softer demand. Other regions were flat. The geopolitical uncertainty around the U.S. war with Iran fueled rising energy prices across the U.S. and Canada in Q2, impacting operations, transportation, and end-product demand. Wood fiber costs account for over half of total pulp manufacturing costs worldwide. The Forisk Wood Fiber Review includes prices and market commentary for all major North American regions, providing essential data for anyone that needs to track pulpwood, wood chips, and biomass prices in the world’s largest and most dynamic wood fiber markets. The FWFR provides updates on softwood and hardwood prices for major markets in North America. Prices are reported for wood delivered to consuming plants as a range and average. Each report also updates U.S. and Canada trade statistics for lumber, logs, wood pellets, wood chips and pulp. For more information or to subscribe to the Forisk Wood Fiber Review, contact: Nick DiLuzio, ndiluzio@forisk.com, 770-725-8447.  About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mill capacities; and attending educational workshops.   Forisk Consulting | www.forisk.com

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Forisk Research Release: Top North American OSB Producers

Forisk Research Release Top North American OSB Producers Include  #1 West Fraser and #2 Louisiana-Pacific Oriented Strand Board (OSB) is an important sector in the forest products industry that is highly concentrated. Nine North American companies encompass the entire OSB sector, capable of manufacturing 26.5 BSF (3/8”) in 2025, with seven of them operating in the United States, according to Forisk Consulting. Forisk tracks over 2,350 forest industry mills, including planned capacity changes, to publish the North American Forest Industry Capacity Database (“Mill Capacity Database”) and generates industry research and projections in the Forisk Research Quarterly. From the mill database, Forisk published a list of the top OSB producers in North America and the U.S. “The U.S. OSB sector is more concentrated than the broader North American sector, with only seven firms producing OSB,” according to Amanda Lang, President and COO of Forisk Consulting. “U.S. producers are capable of producing 17 BSF of OSB, which is 64% of North American production.” Forisk’s data confirms that West Fraser was the largest producer of OSB, both in the U.S. (4.5 BSF) and in North America (7.8 BSF). Louisiana-Pacific Corp was the second-largest producer, with 2.6 BSF manufactured in the U.S. and 4.1 BSF in North America. Georgia-Pacific was the third-largest North America producer with 3.3 BSF, and Huber Engineered Wood was the third-largest U.S. producer with 2.6 BSF in 2025. Each quarter, Forisk Consulting compiles data on mill activity through its ongoing tracking of wood-using facilities as part of Forisk’s North American Mill Capacity Database, a database of over 2,350 wood-using mills in North America. Mill updates are published in each quarter in the Forisk Research Quarterly (FRQ). This release provides a ranking of OSB producers from the 2026 Q2 edition of the FRQ. About the Mill Capacity Database: Forisk’s North American Mill Capacity Database provides forest industry stakeholders with detailed capacity, ownership, and wood-use data for wood-using mills across North America. The database supports strategic planning, competitive benchmarking, investment analysis, and supply chain assessment. For more information, visit www.forisk.com or contact Nick DiLuzio at ndiluzio@forisk.com.   Forisk Consulting | www.forisk.com

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Tomorrow! Real-World Applications of Forisk's Custom Market Forecast Webinar

Free Webinar from Forisk

Real-World Applications of Forisk's Custom Market Forecast FREE WEBINAR ON MAY 28TH AT 1:00PM EASTERN Since its launch in 2024, clients have used Forisk’s Custom Market Forecast (CMF) to support a range of investment and operational decisions across the timber and forest products industries. The CMF provides efficient and effective market-specific analyses and price/cost forecasts of a client’s wood baskets or timber markets. This webinar highlights real-world applications of the CMF with examples of how clients use it to leverage available data and support their strategic decisions. Webinar Details: Date: Thursday, May 28, 2026 Time: 1:00pm Eastern / 10:00am Pacific Cost: Free Duration: 30 minutes Link to Register: https://us02web.zoom.us/webinar/register/WN_k6d9mboWQ7ehXiMm03Q4Kg#/registration The CMF leverages models from the Forisk Research Quarterly (FRQ) to deliver timely and efficient market-specific analyses for clients, helping you make more informed decisions with confidence. In this webinar, you will learn: How the Custom Market Forecast supports investment and operating decisions. Real-world applications for applying the Custom Market Forecast in your business. Case studies showcasing how clients leverage the localized insights from the CMF in their businesses. We look forward to demonstrating how Forisk's Custom Market Forecast can support your decision-making and drive better outcomes for your business. Reserve your spot today and take the first step toward customized timber market insights. Unable to attend? Please register anyway! We’ll send you a recording of the webinar. Sincerely, Nick DiLuzio ndiluzio@forisk.com VP of Business Development Forisk Consulting Register Now! Forisk’s Custom Market Forecast (CMF) provides market-specific analyses and price/cost forecasts of a client’s wood baskets or timber markets. The CMF leverages models from the Forisk Research Quarterly (FRQ) to deliver timely and cost-efficient market-specific analyses for clients. Deliverables include a dashboard-style report and corresponding Excel file with price/cost forecasts for each individual market ordered by the client. The client works directly with Forisk to select the counties and create customized market areas tailored to their needs.   Forisk Consulting | www.forisk.com

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