Investor Relations - Timber and Real Estate Performance

$1.5 Billion Acquired and $750 Million Sold Since 2011 Change in Acres by Location Since January 2011 (000 Acres) +5 +61 Rayonier Note: -74 +18 +62 -7 -21 +67 +99 144 -37 Map reflects transactions as of 3/31/2017 pro forma for recent acquisition of 95,100 acres in the U.S. South. Investor Relations | May 2017 -128 27

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