West Fraser Announces Voting Results of the Annual Shareholders Meeting

West Fraser (TSX/NYSE: WFG) reported voting results from its Annual General and Special Meeting on April 22, 2026 in Vancouver.

Rhea-AI Summary

West Fraser (TSX/NYSE: WFG) reported voting results from its Annual General and Special Meeting on April 22, 2026 in Vancouver.

A total of 69,106,612 common and Class B common shares were voted, representing 88.26% of outstanding votes. All director nominees were elected. Say-on-Pay passed with 86.41% support and the Shareholder Rights Plan reconfirmation passed with 87.03%. PricewaterhouseCoopers LLP was appointed auditor and the board size was fixed at 11.

Positive

• Shareholder turnout: 69,106,612 votes (88.26% of outstanding)
• Say-on-Pay approved with 86.41% of votes in favour
• Shareholder Rights Plan reconfirmed with 87.03% support
• Appointment of PricewaterhouseCoopers LLP as auditor confirmed

Negative

• Hank Ketcham received 86.40% support (13.60% withheld)
• Brian G. Kenning received 87.10% support (12.90% withheld)

Argus Apr 23 session

+1.05% close to close Open Argus

Details

News Market Reaction – WFG

On Apr 23, the first trading day after this news, WFG closed 1.05% above the previous close.

Data tracked by StockTitan Argus for the Apr 23 session.

Market Context

This announcement confirms strong shareholder endorsement of West Fraser’s governance framework. Ove...

Analysis

This announcement confirms strong shareholder endorsement of West Fraser’s governance framework. Over 88% of eligible votes were represented, all director nominees were elected, and resolutions on executive compensation and the shareholder rights plan each received more than 86% support. In the context of recent disclosures on earnings, duties, and capital returns, this meeting primarily validates the existing strategy. Investors may watch upcoming results and duty developments to assess how this governance backdrop translates into financial performance.

Key Figures

Shares voted: 69,106,612 shares Voter turnout: 88.26% Board size: 11 directors +5 more

Shares voted

69,106,612 shares

Common and Class B shares voted at AGM

Voter turnout

88.26%

Votes attached to all outstanding shares represented

Board size

11 directors

Number of directors fixed by shareholders

Say-on-pay support

86.41%

Votes cast in favour of executive compensation approach

Rights plan support

87.03%

Votes cast in favour of shareholder rights plan continuation

H. Ketcham support

86.40%

% of votes in favour for director Hank Ketcham

Top director support

99.96%

Highest vote in favour among director nominees

Price change

-2.38%

24h move prior to/around AGM voting results release

Historical Context

5 past events · Latest: Apr 16

5 events

1. Apr 16

   Duty/operations update

   24h Move

   +2.9%

   Outlined lower duty rates, non-cash charges, and mill operating changes.

2. Mar 19

   Buyback renewal

   24h Move

   -1.0%

   Renewed NCIB to repurchase up to 3,800,917 shares over one year.

3. Feb 11

   Form 40-F filing

   24h Move

   -1.8%

   Filed 2025 Form 40-F with audited financials and annual disclosures.

4. Feb 11

   Q4 2025 earnings

   24h Move

   -1.8%

   Reported Q4 loss driven by large restructuring and impairment charges.

5. Jan 22

   Earnings call notice

   24h Move

   +1.4%

   Announced timing and access details for Q4 2025 results call.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

class b common shares, say-on-pay, shareholder rights plan, auditor

4 terms

class b common shares financial

"A total of 69,106,612 Common shares and Class B Common shares were voted"

Class B common shares are one of multiple types of a company’s ordinary stock that usually differ from other classes in voting power, dividend priority, or transferability. For investors, the difference matters because owning Class B may mean less control over corporate decisions or different income potential compared with other share classes—like having a seat with fewer votes at a board meeting while still sharing in the company’s profits.

say-on-pay financial

"The resolution on the Company's approach to executive compensation (Say-on-Pay)... was also approved"

A say-on-pay is a shareholder vote that gives investors a chance to approve or disapprove a company’s executive compensation packages, typically held at annual meetings. It matters because the vote signals investor satisfaction with how leaders are paid—like customers rating how well managers are rewarded—and can push boards to change pay plans, reducing governance risk and affecting investor confidence and stock value even though the vote is usually advisory rather than legally binding.

shareholder rights plan regulatory

"The resolution on the reconfirmation and continuation of the Company's Shareholder Rights Plan..."

A shareholder rights plan is a board-approved defense that makes an unsolicited takeover harder by triggering measures—such as issuing extra shares or special rights—if one investor accumulates a large stake without board approval. Think of it as a temporary roadblock that protects existing management and gives the company time to seek better offers. It matters to investors because it can affect share price, takeover chances, and whether a competing buyer can quickly buy control.

auditor financial

"Shareholders approved the appointment of PricewaterhouseCoopers LLP as auditor of the Company"

An auditor is an independent professional who examines a company’s financial records, accounting systems, and internal controls to confirm that reported numbers are accurate and follow the rules. For investors, an auditor’s review is like a third‑party inspector for a house: it reduces the risk of hidden problems, makes financial statements more trustworthy, and helps investors judge whether a company’s reported results reflect reality.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC, April 22, 2026 /PRNewswire/ - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) announced the voting results from its Annual General and Special Meeting held on Wednesday, April 22, 2026 in Vancouver, B.C.

Voting Results for the Election of Directors

A total of 69,106,612 Common shares and Class B Common shares were voted at the meeting, representing 88.26% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:

Director	Votes For	% of Votes in Favour	Votes Withheld	% of Votes Withheld
Hank Ketcham	57,936,642	86.40	9,119,807	13.60
Doyle N. Beneby	66,543,465	99.23	512,984	0.77
Eric L. Butler	67,031,881	99.96	24,568	0.04
Reid E. Carter	65,657,002	97.91	1,399,447	2.09
John N. Floren	66,323,395	98.91	733,054	1.09
Ellis Ketcham Johnson	66,626,552	99.36	429,897	0.64
Brian G. Kenning	58,403,048	87.10	8,653,401	12.90
Marian Lawson	67,030,026	99.96	26,423	0.04
Sean P. McLaren	66,780,396	99.94	37,518	0.06
Colleen M. McMorrow	67,018,931	99.94	37,518	0.06
Gillian D. Winckler	66,895,719	99.76	160,729	0.24

Voting Results for Other Matters

Shareholders approved the fixing the number of directors at eleven (11) by show of hands.

Shareholders approved the appointment of PricewaterhouseCoopers LLP as auditor of the Company by show of hands.

The resolution on the Company's approach to executive compensation (Say-on-Pay) as described in the Company's management information circular dated March 6, 2026 was also approved, with 86.41% of votes cast in favour.

The resolution on the reconfirmation and continuation of the Company's Shareholder Rights Plan as described in the Company's management information circular dated March 6, 2026 was also approved, with 87.03% of votes cast in favour.

Detailed voting results for the meeting are available on SEDAR+ (www.sedarplus.ca) and EDGAR (http://www.sec.gov).

About West Fraser

West Fraser is a diversified wood products company with more than 50 facilities in Canada, the United States, the United Kingdom, and Europe, which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), northern bleached softwood kraft pulp, paper, wood chips, and other residuals. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers and tissue. For more information about West Fraser, visit: westfraser.com.

For More Information

Investor Contact
Anil Aggarwala
Director, Treasurer and Investor Relations
Tel. (604) 245-9718
shareholder@westfraser.com

Media Contact
Joyce Wagenaar
Director, Communications
Tel. (604) 817-5539
media@westfraser.com

View original content:https://www.prnewswire.com/news-releases/west-fraser-announces-voting-results-of-the-annual-shareholders-meeting-302750898.html

SOURCE West Fraser Timber Co. Ltd.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares voted at the West Fraser (WFG) annual meeting on April 22, 2026?

A total of 69,106,612 common and Class B common shares were voted, representing 88.26% of outstanding votes. According to West Fraser, this figure reflects votes cast at the April 22, 2026 meeting in Vancouver.

What was the result of West Fraser's (WFG) Say-on-Pay vote on April 22, 2026?

The Say-on-Pay resolution was approved with 86.41% of votes cast in favour. According to West Fraser, this approval followed disclosure in the March 6, 2026 management information circular.

Did West Fraser (WFG) reconfirm its Shareholder Rights Plan at the April 22, 2026 meeting?

Yes. The reconfirmation and continuation of the Shareholder Rights Plan passed with 87.03% support. According to West Fraser, the plan details are described in the March 6, 2026 management information circular.

Were all director nominees elected at West Fraser's (WFG) April 22, 2026 meeting?

All director nominees were elected at the meeting. According to West Fraser, each nominee received majority support, with individual vote tallies and percentages disclosed for each director.

Which West Fraser (WFG) directors received notable withheld votes on April 22, 2026?

Hank Ketcham and Brian G. Kenning had higher withheld percentages: 13.60% and 12.90%, respectively. According to West Fraser, the meeting's detailed vote counts list these percentages per nominee.