FOREIGN AFFAIRS AND INTERNATIONAL TRADE CANADA / AFFAIRES ÉTRANGÈRES ET COMMERCE INTERNATIONAL CANADA TRADE CONTROLS & TECHNICAL BARRIERS BUREAU /DIRECTION GÉNÉRALE DE LA RÈGLEMENTATION COMMERCIALE ET DES OBSTACLES TECHNIQUES SWLSLA_RUP Date:20-Mar-12 2006 CANADA-US SOFTWOOD LUMBER AGREEMENT  SOFTWOOD LUMBER EXPORTS REPORT

Date of Revision March 20, 2012 11:09:03 AM EDT Period January 1, 2011 - January 31, 2011 Expected US Consumption 2,505,000,000 bfm Adjusted Expected US Consumption** 2,505,000,000 bfm Monthly Trigger Price $276 US Canadian Share of US Consumption Option A Regions 34%  Option B Regions 30%  Region Option Regional Share (bfm) Surge Trigger (bfm)* Quota Volume (bfm) Exports (bfm) Surge Trigger (bfm)* % Quota Volume Remainder Pool Balance (bfm)*** BC Coastal A 36,178,802 39,796,683 22,120,548 55.6% BC Interior A 436,621,500 480,283,650 351,361,420 73.2% Alberta A 62,374,500 68,611,950 76,186,042 111.0% Saskatchewan B 10,167,353 2,439,022 24.0% 5,131,610 Manitoba B 6,851,912 237,267 3.5% 4,111,147 Ontario B 73,823,824 36,344,900 49.2% 498,672 Quebec B 107,420,294 83,384,012 77.6% Maritime Total 73,774,618 Territory Total 0 Excluded Companies 37,447,324 Total: 683,295,153 Notes: Export volumes are based on export permit data and are subject to corrections and final reconciliation. * Represents 110% of Regional Share **For purposes of calculating Regional Quota Volumes under Option B, the EUSC is adjusted in accordance with paragraph 14 of Annex 7D of the Softwood Lumber Agreement 2006. *** Based on export permit data as of the date and time of revision and subject to corrections and final reconciliation. SWLSLA_RUP     Date: March 20, 2012