Rayonier - Best-in-Class, Pure-Play Timber REIT
Key Value Drivers - Acquisitions Scorecard
40%
U.S. South Valuation Sensitivity Analysis - % Change in $ per Acre by Key Value Driver
30%
78'
20%
10%
0%
-10%
-20%
-30%
80'
$20
$20
70%
70'
$16
60'
60
-40%
Site Index (feet)
$12
Stumpage Pricing ($/ton)
14
16
H
80%
73%
70%
12
8
Wtd. Avg. Age
60%
% Plantable
The Acquisitions are comprised of well stocked, highly productive properties in some of the
strongest timber markets in the U.S. South, which drives the relatively high value per acre.
Rayonier
Note: Blue bars represent estimated "average" quality industrial timberlands in the U.S. South. Green / red bars represent valuation sensitivity per acre for above / below average
metrics for each value driver. Orange circles represent key metrics for the Acquisitions.
Investor Relations | August 2017
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