Rayonier - Best-in-Class, Pure-Play Timber REIT
Disciplined Acquisition Process
150
130
Productivity - Site Index (1)
6.0
Improved Portfolio
Harvest Rate - Tons per Acre per Year (2)
5.1
122
5.0
110
4.0
5.1
3.5
110
90
76
70
70
50
U.S. South
IN WA
3.0
2.0
2.9
1.0
Pacific Northwest
U.S. South
■Acquisitions ■Legacy
Weighted Average Plantation Age
Pacific Northwest
■Acquisitions ■Legacy
Commercial Forest Area - % Productive (3)
22
25
100%
22
19
90%
20
15
15
12
80%
85%
76%
72%
67%
70%
10
10
60%
5
50%
U.S. South
Pacific Northwest
■Acquisitions
■Legacy
U.S. South
■ Acquisitions
Pacific Northwest
■Legacy
Rayonier seeks to acquire property that improves quality of portfolio and produces strong
recurring cash flow from sustainable harvest.
Note:
(1)
Comparison charts reflect data for U.S. legacy per 2014 10-K and acquisitions from 2014 to June 30, 2017.
Site index base age = 25 years for U.S. South and 50 years for Pacific Northwest.
(2)
Rayonier (3)
Harvest rate for RYN Legacy assumes sustainable yield of 5.4 to 5.7 million tons for Southern Timber and 1.3 million tons for Pacific Northwest Timber (per 2014 10-K). Harvest rate for
acquisitions based on projected 10-year harvest.
Includes land classified as natural plantable.
Investor Relations | August 2017
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