Investor Presentation

Chinese Log & Lumber Imports Rely on NZ and Russia Chinese Log Import Volumes (million m3 RWE) 60 Russia Chinese Lumber Import Volumes (million m³ RWE) 60% 45 Russia 50 50 40 40 30 50 20 20 10 2008 2009 2010 2011 New Zealand 40 USA 40 ROW 50% % New Zealand 35 55 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 40% 30 30 25 25 30% 20 20 20% 15 10 10 10% 5 Canada Europe ROW 80% 70% % Russia 60% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 New Zealand has captured a growing share of China's log import volume. Rayonier Source: Forest Economic Advisors. RWE defined as roundwood equivalent. Investor Presentation | August 2023 50% 40% 30% 20% 10% 19

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