Norbord Inc. will redeem on May 6, 2021 all of Norbord's outstanding 5.75% Notes due July 15, 2027. A total of approximately $349.4 million of 2027 Notes are presently outstanding following the repurchase of approximately $0.6 million of 2027 Notes under the change of control offer required under the relevant note indentures in connection with the acquisition of Norbord and announced on March 2, 2021. The redemption will be completed under the optional redemption provisions of the indenture governing the 2027 Notes at a redemption price equal to 100% of the principal amount of the 2027 Notes plus a make-whole premium based on the July 15, 2022 early call date together with accrued and unpaid interest to, but excluding, the redemption date. The impact of this transaction is not expected to be material to West Fraser's earnings.