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:23-Jan-12 2006 CANADA-US SOFTWOOD LUMBER AGREEMENT  SOFTWOOD LUMBER EXPORTS REPORT

Date of Revision January 23, 2012 10:39:05 AM EST Period December 1, 2011 - December 31, 2011 Expected US Consumption 2,508,000,000 bfm Adjusted Expected US Consumption** 2,508,000,000 bfm Monthly Trigger Price $257 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 45,687,615 50,256,377 26,790,290 53.3% BC Interior A 437,144,400 480,858,840 384,352,789 79.9% Alberta A 62,449,200 68,694,120 68,066,873 99.1% Saskatchewan B 10,179,529 4,965,230 48.8% 3,777,394 Manitoba B 6,860,118 275,843 4.0% 205,804 Ontario B 73,912,235 38,206,095 51.7% 1,013,008 Quebec B 107,548,941 70,324,357 65.4% Maritime Total 77,575,125 Territory Total 0 Excluded Companies 26,933,840 Total: 697,490,442 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: January 23, 2012