Investor Presentation

Rayonier's Strategic Priorities MANAGE FOR LONG-TERM VALUE Design harvest strategy to achieve long-term, sustainable yield ■ Balance biological growth, harvest cash flow and responsible stewardship ACQUIRE HIGH-QUALITY TIMBERLANDS OPTIMIZE PORTFOLIO VALUE ■ Pursue acquisitions that improve portfolio quality and sustainable yield Maintain disciplined approach to acquisitions; minimize HBU speculation ■ Opportunistically monetize lands where premium valuations can be achieved ■ Pursue value creation activities on select properties to enhance long-term value FOCUS ON QUALITY OF EARNINGS POSITION FOR LOW-CARBON ECONOMY BEST-IN-CLASS STEWARDSHIP & DISCLOSURE Rayonier ■ Focus on harvest operations and rural land sales to support dividends De-emphasize sale of "non-strategic" timberlands to augment cash flow ■ ■ Capitalize on increasing demand for carbon solutions / sequestration Integrate ecosystem services opportunities into long-term strategic planning ■ Develop and integrate robust ESG policies and best practices Establish Rayonier as industry leader in transparent disclosure Investor Presentation | November 2023

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