Abitibi River Forest Management Inc.
Safety, Health and Environmental Policy

May 25, 2016

Abitibi River Forest Management Inc. (ARFMI) is committed to the health and safety of the people who work in our forest and the continued health of the forests in our care. By operating in a safe, environmentally sustainable, and cost-effective manner, we can improve the competitive advantage of our shareholders and the prosperity of the communities that depend on the long term sustainability of these forests.

1. ARFMI is committed to complying with occupational safety, health and environmental laws and regulations, and other standards to which we subscribe.

2. ARFMI is committed to continuously improve safety, health and environmental performance, and to develop leading-edge forest management practices and standards.

3. Working safely, sustaining the forest environment and preventing pollution are conditions of working on the ARFMI forest licence.

4. Shareholders and others who operate on the forest licence areas we manage are responsible for the safety and health of all persons working under their supervision or under contract to them, for protecting the forest environment, and for complying with safety, health and environmental legislation on their operations.

5. Shareholders and others who operate on the forest licence areas we manage must implement and maintain safety, health and environmental policies and management systems, must maintain records of performance and must report annually on their performance and compliance with safety, health and environmental legislation to ARFMI.

6. Shareholders or their agents will conduct periodic inspections of operations and will issue stop-work orders to those who do not comply with safety, health and environmental standards and regulations.

7. Shareholders and others who operate on the forest licence areas we manage must promptly report all significant incidents, accidents and near misses that occur on their operations to ARFMI.

8. ARFMI will conduct annual reviews of safety, health and environmental performance reports and operations will be suspended for those shareholders or others who operate on the forest licence until they comply with this policy.

9. ARFMI will communicate and inform the Shareholders on their policies and practices.

This Safety, Health and Environmental Policy is hereby executed by the Board of Directors of the Corporation as evidenced by their signatures on the original document.