Investor Relations - Timber and Real Estate Performance slide image

Investor Relations - Timber and Real Estate Performance

Availability of Viable B.C. Timber Is Expected to Decline Rapidly Inventory of Available Live and Dead Lodgepole Pine by Years Since Attack (Mil m3) 1,600 Economic "Shelf-Life" of Beetle Kill Wood = 8-12 Years 1,400 1,200 1,000 800 600 400 200 2010 - 2015: ~19% Decline in <12 yrs Dead Volume 2015-2020: -39% Decline in <12 yrs Dead Volume 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 9-10 yrs 11-12 yrs >12 yrs Duration Since Mortality: ■Live <8 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 Relations | May 2017 46
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