Management Discussion and Analysis

Dated August 27, 2018 to Accompany the Interim Consolidated Financial Statements for the Three Month Period Ended June 30, 2018

Caution Regarding Forward Looking Statements – This discussion includes statements about our expectations for the future. We believe that our expectations are reasonable; however, actual outcomes may differ materially from our expectations due to changes in operating performance, availability of and prices for raw materials, availability of trained labour, foreign currency exchange rate fluctuations, unexpected competition, and other technical, market and economic factors.

Description of Our Business

We, WestBond Enterprises Corporation or the “Company,” are a paper manufacturer and converter that supplies disposable paper products to many market segments. A full description of our business and products is contained in the Management Discussion and Analysis included in our 2018 Annual Report. A pdf version of the 2018 Annual Report may be downloaded from our web site at www.westbond.ca or from the SEDAR web site at www.sedar.com. For a printed copy, please contact the Company. Additional information on the Company is also available on our web site and on the SEDAR web-site.

Discussion of Operations and Financial Condition

You should refer to our interim consolidated financial statements for the three month period ended June 30, 2018 and our consolidated financial statements for the year ended March 31, 2018 while you read this discussion. Those financial statements provide significant material information that is not meant to be, nor is it, included in this discussion. This discussion is meant to provide information not included in the financial statements and an explanation of some of the financial statement information. You should also refer to the Management Discussion and Analysis that was included in our 2018 Annual Report. Information included in that discussion is only up-dated in this discussion. Information that has not changed materially since June 25, 2018, the date of the Management Discussion and Analysis in the 2018 Annual Report, is not repeated here.

Sales were $2,864,740 for the three months ended June 30, 2018, which is 14.6% higher than for the three months ended June 30, 2017 and 19.2% higher than for the three months ended March 31, 2018. We realized a profit of $172,905 ($0.005 per share) for the three months ended June 30, 2018, compared to a profit of $58,282 ($0.002 per share) for the same period last year The increase is due to higher higher sales volumes and lower materials costs.

The table and graph on the next page show the trends over the past eight quarters

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