Stanley Elliott named Director of Investor Relations at UFP Industries, replacing the retiring Dick Gauthier

UFP Industries, Inc. (Nasdaq: UFPI) today announced that Stanley Elliott has joined the company as director of investor relations. Stanley will begin assuming the IR duties currently overseen by Dick Gauthier, who will retire at the end of 2024 after 40 years with the company.

Stanley joins UFP Industries from Stifel Financial Corporation, a multinational wealth management and investment banking firm, where he served as managing director on Stifel’s equity research platform. He joined Stifel in 2006, supporting the research of the home furnishings and building materials industries. In 2011 he launched coverage on the industrial space and served as managing director of the diversified industrials sector, covering machinery, construction materials and building materials. Stanley has won StarMine awards for both earnings estimates and stock selection, and his equity research coverage universe included UFP Industries.

“We’re thrilled to have Stanley’s talent and experience in this role,” said UFP Industries CFO Mike Cole. “Stanley’s knowledge of our company, culture and industry is impressive, and when combined with his extensive experience in sell-side investment research, gives us the ability to create a best-in-class investor relations program. We would also like to congratulate Dick Gauthier on his upcoming retirement and recognize his dedication to UFP Industries and contributions to our company over the past four decades across numerous leadership roles.”

UFP Industries, Inc.

UFP Industries, Inc. is a holding company whose operating subsidiaries – UFP Packaging, UFP Construction and UFP Retail Solutions – manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. UFP Industries is ranked #493 on the Fortune 500 and #128 on Industry Week’s list of America’s Largest Manufacturers. For more about UFP Industries, go to www.ufpi.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like “anticipates,” “believes,” “confident,” “estimates,” “expects,” “forecasts,” “likely,” “plans,” “projects,” “should,” variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; government regulations, particularly involving environmental and safety regulations; and our ability to make successful business acquisitions. Certain of these risk factors as well as other risk factors and additional information are included in the Company's reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission.

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