Code of Ethics

Our first code of ethics, Weyerhaeuser's Reputation, A Shared Responsibility, was issued to managers in 1976. The code applies to all employees, officers of the company, and the board of directors. It is currently in its eighth edition and is issued to all employees. It is also available to customers, contractors, suppliers and the public.

The code of ethics explains the standards of conduct that employees are expected to follow. Topics covered include:

• Antitrust and competition laws
• Company assets
• Conflict of interest
• Corporate opportunities
• Employment expectations
• Employment issue resolution process
• Environmental responsibility
• Full and fair disclosure
• Gifts and entertainment
• Government affairs
• Government investigations, inspections and requests
• Human rights
• Inside information and insider trading laws
• Intellectual property
• International business conduct
• Protection of employee information
• Protection of third-party information
• Safety and health
• Suppliers, contractors and customers

Regular improvements are made to our Ethics and Business Conduct program, including eight revisions of our code of ethics to address new issues or clarify company policies. In addition to receiving the code, all employees participate in ethics training on a regular basis and are expected to role-model and promote ethical behavior.

A certificate of compliance is sent to all salaried employees, including top management, to audit compliance with the code of ethics, company policy and the law. New employees are introduced to our code of ethics as part of our orientation process.

Key ethics and business conduct accomplishments in 2009 include:

• We finalized revisions to the code of ethics, Our Reputation: A Shared Responsibility, for publication and distribution in 2010 (eighth edition).
• We developed companywide ethics training for rollout in 2010.
• We launched an automated New Employee Ethics Orientation process, which includes a new employee ethics training module.
• Weyerhaeuser was recognized in 2009 and in 2010 as one of the World’s Most Ethical Companies by Ethisphere Institute. Its annual selection recognizes organizations that promote ethical business standards and policies. This award recognizes real and sustained ethical leadership within various industries.