Investor Relations - Timber and Real Estate Performance slide image

Investor Relations - Timber and Real Estate Performance

Growth of Pellet Mills Has Further Buoyed Demand Announced Under Construction Operating Rayonier Announced & Operating Pellet Mills Key Observations Majority of operating facilities are located in RYN markets, with a particular focus in Coastal GA Currently monitoring facilities announced and under construction in key markets Several announced facilities planning to locate near RYN properties Miles 0 50 100 150 Change in GA-2 Price vs. South Average ($ per ton, pine pulpwood) $16 $14 $12 $10 $8 $6 $4 2005 2006 2007 2008 2009 GA-2 Source: Timber Mart-South. Note: South-Wide Avg GA-2 represents South GA, including coastal areas. 2010 2011 2012 2013 2014 2015 2016 2017 Rayonier's markets have benefited from increased demand from pellet manufacturing facilities, particularly in Georgia and Texas. Rayonier Investor Relations | May 2017 11
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