U.S. South Historical Valuation Snapshot

Acquisitions Provide Enhanced Scale in Strong Markets ~137,800 Fee Acres (TX/LA/AL/GA) Sabine TX/LA Properties (74,400 acres) LOUISIANA ** Houston ° wwww ° Birmingham Atlanta MISSISSIPPI ALABAMA GEORGIA Jackson Montgomery ° AL Properties (35,300 acres) Baton Rouge New Orleans Rayonier Investor Presentation | May 2023 Savannah GA Properties (28,200 acres) Columb FLORIDA Tallahassee Jacksonville Orlando N Acquisitions Rayonier Ownership 0 100 200 Miles 14

View entire presentation