U.S. South Historical Valuation Snapshot
New Zealand Timber - Portfolio Overview
Highlights/Location
Five-Year Performance Summary
($ in millions)
(Tons in 000s)
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Acreage: 419,000 acres (297,000 productive acres)
$100
3,000
☐
Sustainable Yield: 2.4 - 2.7 million tons
☐
☐
Planted/Plantable: 71%
▪ Average Site Index: 95 feet at age 20 (1)
■ 2022 EBITDA*: $54.5 million
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FSC® and PEFC™M Certification
■
Appraised value as of 12/31/22: NZ$1,872 million (3)
Adjusted EBITDA*
$80
2,800
$60
2,600
$40
2,400
Volume (Tons)
$20
2,200
2,000
2018
2019
2020
2021
2022
Adjusted EBITDA
Volume
Rayonier
Acres in 000s
Balanced Age Class Profile (Radiata) (2)
80
70
60
50
40
30
20
10
0-4
5-9
10-14 15-19 20-24
25+ Other
Species
Age Class in Years
Site index reflects the average height of the dominant and codominant trees at a base age of 20 (New Zealand).
Age class profile as of 12/31/22 per 2022 Form 10-K.
Annual appraisals are obtained by Matariki Forestry Group for compliance with statutory financial reporting requirements.
Non-GAAP measure (see Appendix for definitions and RYN reconciliations).
Investor Presentation | May 2023
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