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Investor Presentation

Pacific Northwest Timber - Portfolio Overview Highlights/Location ☐ Acreage: 474,000 acres ☐ ☐ Sustainable Yield: 1.5-1.7 million tons Planted/Plantable: 78% Average Site Index: 116 feet at age 50 (1) 2022 EBITDA*: $63.9 million Sustainable Forestry Initiative Certification Natali Gla Acres in 000s Five-Year Performance Summary ($ in millions) (Tons in 000s) $70 2,000 $60 1,750 $50 1,500 $40 1,250 $30 1,000 $20 $10 750 500 2018 2019 2020 2021 2022 Adjusted EBITDA Volume 28812 120 100 Improving Age Class Profile (2) 0-9 10-19 20-29 30-39 40+ Age Class in Years Site index reflects the average height of the dominant and codominant trees at a base age of 50 (Pacific Northwest); based on King 1966 site index equation for Douglas-fir and Wiley 1978 site index equation for Western Hemlock. (1) (2) Age class profile represents commercial forest acres as of 9/30/22 per 2022 Form 10-K. Investor Presentation | March 2023 Rayonier * Non-GAAP measure (see Appendix for definitions and RYN reconciliations). 16
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