<div id="readability-page-1"><div>VANCOUVER, British Columbia, March 04, 2026 (GLOBE NEWSWIRE) -- Conifex Timber Inc. (“Conifex”) announced today that its wholly-owned subsidiary Conifex Mackenzie Forest Products Inc., has completed a $19 million secured term loan with the Business Development Bank of Canada (“BDC”) under the Softwood Lumber Guarantee Program.The loan has a maturity date of July 15, 2033, bears interest at BDC’s floating base rate minus a variance of 0.60% per year and is secured by Conifex’s lumber business assets. The loan allows for interest-only payments until August 2028. A portion of the loan was used to repay a bridge advance from Conifex’s existing senior secured timber lender. The balance of the loan is available for working capital and general corporate purposes.Conifex also announced today that it successfully restarted its sawmill in February. With the successful completion of the term loan, the Company is progressing toward normalized operations and currently anticipates sustaining two-shift operations in the second half of 2026, subject to fibre supply conditions.Conifex also announced today that it plans to release its fourth quarter 2025 results before market open on Friday, March 13, 2026. Conifex has scheduled a conference call at 8:00 AM Pacific time / 11:00 AM Eastern time on March 13, 2026, to discuss its financial results. To participate in the call, please dial the following number:Toll-Free Access (Canada/US): 1-877-883-0383Access ID:4333506 A transcript of the call will be available upon request at investorrelations@conifex.com.For further information, please contact:Trevor PrudenChief Financial Officer(604) 216-2949About Conifex Timber Inc. Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution. Conifex's lumber products are sold in the United States, Canadian and Japanese markets. Conifex also produces bioenergy at its power generation facility at Mackenzie, BC.Forward-Looking StatementsCertain statements in this news release may constitute “forward-looking statements”. Forward-looking statements are statements that address or discuss activities, events or developments that Conifex expects or anticipates may occur in the future. When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “projects”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of Conifex’s management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of Conifex or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding expected operating configurations. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, among others, our future debt levels; that we will complete our projects in the expected timeframes and as budgeted; that we will effectively market our products; that capital expenditure levels will be consistent with those estimated by our management; our ability to obtain and maintain required governmental and community approvals; the impact of changing government regulations and shifting political climates; that current demand for lumber will continue to be in balance with supply; that transportation services by third party providers will continue uninterrupted; our ability to ship our products in a timely manner; that there will be no unforeseen disruptions affecting the operation of our Mackenzie power plant and that we will be able to continue to deliver power therefrom; our ability to obtain financing on acceptable terms, or at all; that interest and foreign exchange rates will not vary materially from current levels; the general health of the capital markets and the lumber industry; and the general stability of the economic environments within the countries in which we operate or do business. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation, the availability of government financing or other funding; and other risk factors detailed in our filings with the Canadian Securities Regulatory Authorities available on SEDAR+ at www.sedarplus.ca. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and Conifex undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law. </div></div>

CNFR

Conifex Timber Inc. announced a $19 million secured term loan with the Business Development Bank of Canada under the Softwood Lumber Guarantee Program. The loan, maturing on July 15, 2033, will be used for working capital and to repay a bridge advance. Conifex has restarted its sawmill and anticipates two-shift operations in the second half of 2026. The company will release its fourth quarter 2025 results on March 13, 2026, followed by a conference call to discuss the financial results.

Conifex Announces Secured Term Loan with BDC under the Softwood Lumber Guarantee Program