Investor Presentation
OK-1
TX-1
Rayonier
RYN Concentrated in Strongest U.S. South Markets
Supply/demand dynamics are highly localized, as logs generally travel less than 100 miles
Timber consumption vs. inventory growth remains much more tensioned in Coastal Atlantic markets
TMS 2022 Composite Price Quartile Rankings
Composite Price
First Quartile
Second Quartile
Third Quartile
Fourth Quartile
Rayonier
Acquisitions
VA-1
VA-2
$30
TN-1
TN-2
AR-2
SC-1
GA-1
2.
AR-1
MS-1
AL-1
GA-2
AL-2
LA-1
MS-2
Source:
Note:
LA-2
0 50 100 150 200 250
TimberMart-South.
TMS 2022 Composite Price by Region
$35
Top Quartile
Markets
60%
~71% of RYN Southern Lands in Top Quartile Markets
50%
$25
NC-1
NC-2
SC-2
$20
$15
$10
FL-2
$5
FL-1
Miles
FL-1
FL-2
GA-2
NC-2
AL-2
SC-2
SC-1
VA-2
LA-1
TX-1
TX-2
VA-1
NC-1
AL-1
LA-2
GA-1
MS-2
% Change 2020-22
40%
Acquisition Markets
30%
20%
AR-2
AR-1
MS-1
TN-2
TN-1
Approximately 71% of Rayonier's Southern timberlands are located in top quartile markets
(ranked by TimberMart-South composite stumpage pricing).
Composite pricing assumes mix of 50% pulpwood, 30% chip-n-saw and 20% sawtimber.
Investor Presentation | August 2023
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