Investor Presentation
Rayonier Portfolio Highlights
Sector-Leading U.S. South EBITDA per Ton
U.S. South: 2019 EBITDA per Ton
$22
$20
$18
$16
$14
$12
$10
$8
$6
$4
$2
Rayonier Weyerhaeuser Potlatch
Improving Harvest Profile (2)
Sector-Leading HBU Value Realizations
Real Estate Value per Acre Sold (2018 – 2019)
$4,500
$4,000
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
CatchMark
Rayonier (1)
Weyerhaeuser Potlatch
CatchMark
Unique Exposure to China Export Market
% of 2019 Volume Sold into China Market
Historical & Projected Harvest Volumes (tons in MMs)
12.0
40%
35%
10.0
30%
8.0
25%
6.0
20%
15%
4.0
10%
2.0
5%
2015-2019
■Southern
2020-2024
Pacific Northwest ■New Zealand
New Zealand
Pacific
Northwest
(3)
Southern
Total Rayonier
Rayonier
Excludes Large Dispositions and Improved Development.
Based on Rayonier estimates; assumes current portfolio with no acquisitions or divestitures.
Based on estimated export volume sold into China market.
Investor Presentation | March 2020
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