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Investor Presentation

Southern Timber - Portfolio Overview Highlights/Location Acreage: 1.91 million acres Sustainable Yield: 6.8 7.2 million tons - Planted/Plantable: 67% - Average Site Index: 73 feet at age 25 (1) ▪ 2022 EBITDA*: $156.9 million ☐ Sustainable Forestry Initiative Certification Adjusted EBITDA* Acres in 000s Five-Year Performance Summary ($ in millions) (Tons in 000s) $180 7,000 $160 6,500 $140 6,000 $120 $100 5,500 $80 5,000 $60 4,500 Volume (Tons) $40 4,000 $20 3,500 2018 2019 2020 2021 2022 Adjusted EBITDA Volume 300 250 200 150 100 50 50 Balanced Age Class Profile (2) 0-4 5-9 10-14 15-19 20-24 25+ Natural Pine Age Class in Years Site index reflects the average height of the dominant and codominant trees at a base age of 25 (U.S. South). Age class profile as of 09/30/22 per 2022 Form 10-K. Rayonier *Non-GAAP measure (see Appendix for definitions and RYN reconciliations). Investor Presentation August 2023 32
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