Investor Relations - Timber and Real Estate Performance

Diversified Mix of Domestic & Export Markets Volume by Market Destination (FY 2016) NZ Domestic 37% RMF Export Other 6% 30% India 17% China 56% Korea 21% Trading Export 33% Over 60% of RMF's volume (including Trading volume) is sold into export markets, with China being the largest source of demand. Rayonier Investor Relations | May 2017 23

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