Investor Presentation
Pricing Trends in Top Markets Have Remained Favorable
TimberMart-South Composite Stumpage Prices by Quartile
($ per ton)
$28
$26
Avg. TMS Q4-22
Composite Price
Prem / (Disc) to
Median Price
Three-Year
Price Change
1
37%
49%
$23
1st Quartile
2nd Quartile
7%
4%
$16
7%
$14
(6%)
$24
3rd Quartile
$10
(35%)
(8%)
4th Quartile
12%
$15
$22
U.S. South Median
16%
14%
$18
RYN Acquisitions²
$20
$18
$16
$14
$12
$10
$8
2015:Q1
2015:Q2
2015:Q3
2015:Q4
2016:Q1
1st Quartile
2016:Q2
2016:Q3
2016:Q4
2017:Q1
2017:Q2
2nd Quartile
2017:Q3
2017:Q4
2018:Q1
2018:Q2
3rd Quartile
봄 2018:Q3
2018:Q4
2019:Q1
2019:Q2
2019:Q3
4th Quartile
2020:Q4
2021:Q1
2021:Q2
2021:Q3
2021:Q4
2022:Q1
2022:Q2
2022:Q3
2022:Q4
RYN Acquisitions (Weighted Average) 2
Top quartile markets (ranked by average TMS composite stumpage pricing) have exhibited the
strongest pricing momentum across the U.S. South over the past few years.
Source:
Note:
Rayonier
(2)
TimberMart-South.
Composite pricing assumes mix of 50% pulpwood, 30% chip-n-saw and 20% sawtimber.
Three-year price change reflects Q4 2022 TMS pricing compared to Q4 2019 TMS pricing.
Reflect U.S. South acquisitions completed in Q4 2022.
Investor Presentation | August 2023
2019:Q4
2020:Q1
2020:Q2
2020:Q3
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