Investor Presentation

Diversified Mix of Domestic & Export Markets Volume by Market Destination (2019) RMF Domestic 34% Other RMF Export 37% 9% India 13% Trading 29% Korea 12% China 66% Over half of the New Zealand segment's volume (excluding Trading volume) is sold into export markets, with China being the largest source of demand. Rayonier Investor Presentation | March 2020 42

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