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Investor Presentation

Reconciliation of Net Debt ($ in millions) Q2 2023 Current maturities of long-term debt Long-term debt, net of deferred financing costs and unamortized discounts Plus deferred financing costs Plus unamortized discounts - Total Debt (Principal Only) Cash and cash equivalents Net Debt (1) (1) Non-GAAP measure or pro forma item. Rayonier 1,512.2 4.9 2.9 $1,520.0 (88.4) $1,431.6 55 Investor Presentation | August 2023
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