U.S. South Historical Valuation Snapshot
Availability of Viable B.C. Timber Has Declined Rapidly
Inventory of Available Live and Dead Lodgepole Pine by Years Since Attack
(million m³)
1,600
Economic "Shelf-Life" of Beetle Kill Wood = 8-12 Years
1,400
1,200
1,000
800
600
BC Interior AAC (million m3)
% change
2000
2009
400
50.6
61.0
2022
41.7
'00-22
-18%
'09-22
-32%
200
2010 - 2015:
~19% Decline in
<12 yrs Dead Volume
2015-2020:
-39% Decline in
<12 yrs Dead Volume
Lumber Capacity Curtailments Since 2015
~3.5-4.0 billion board feet
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Duration Since Mortality: Live
>12 yrs
■<8 yrs ■9-10 yrs 11-12 yrs
The mountain pine beetle epidemic is expected to significantly constrain the availability of
economically viable pine inventory in B.C. for many decades.
Rayonier Source: B.C. Ministry of Forests, Forest Economic Advisors.
Investor Presentation | May 2023
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