• Ethics is at the core of every decision made at Weyerhaeuser, and every employee is personally responsible for ethical business conduct.
• In 1976, the company adopted a business ethics policy that has been revised over the years to incorporate best practices and address changing business environments.
• We provide a confidential and anonymous way for employees and others to raise questions about business practices, internal controls, accounting issues or compliance with laws.
• Weyerhaeuser’s Ethics and Business Conduct management system addresses all seven criteria that the U.S. Sentencing Commission included in its revised Sentencing Guidelines describing an effective program to prevent and detect violations of the law.

Weyerhaeuser has a number of important governance practices that are intended to maintain the integrity of our financial reports. These practices include the following:

• The board of directors is composed substantially of independent directors and has adopted formal corporate governance guidelines. The independent directors routinely meet in separate executive sessions without any member of management present.
• The audit committee is composed solely of independent directors and is responsible for approving the retention of the external auditor and any non-audit work to be done by the auditor. The committee meets separately with our internal audit leadership and the external auditor at each audit committee meeting. One of our audit committee members is designated as a financial expert.
• Both the corporate governance committee and compensation committee have retained one or more outside consultants to advise and assist them in carrying out their responsibilities. The corporate environment, health and safety department annually reports directly to the corporate governance committee about company performance on environmental, health and safety issues.
• Weyerhaeuser’s disclosure committee monitors developments that may be material, reviews our periodic reports and disclosure controls and supports the chief executive officer and chief financial officer in their certifications of our periodic reports.