Rayonier - Best-in-Class, Pure-Play Timber REIT slide image

Rayonier - Best-in-Class, Pure-Play Timber REIT

($ per ton) $25.00 $20.00 $15.00 $10.00 $5.00 383k ac. 723k ac. FL-1 GA-2 -50.0% 0.0% -10.0% -20.0% -30.0% -40.0% (20 (%) 20.0% 10.0% SC-2 NC-2 FL-2 LA-1 145k ac. VA-2 VA-1 LA-2 AL-2 266k ac. FL-1 GA-2 SC-2 NC-2 FL-2 Rayonier LA-1 VA-2 Notes: Source: Timber Mart-South. VA-1 LA-2 Composite price by region calculated based on assumed mix of 50% pulpwood, 30% chip-n-saw and 20% sawtimber. Investor Relations | August 2017 While timber demand and pricing has generally declined across the South, regional market supply, demand and pricing trends vary significantly. AL-2 TX-1 SC-1 GA-1 2016 Price Change versus 2005 Average Price TX-1 SC-1 GA-1 183k ac. TX-2 MS-2 AL-1 AR-1 NC-1 Regional Market Price Trends Vary Significantly Timber Mart-South 2016 Composite Stumpage Price by Region Rayonier Top-5 Markets Average AR-2 MS-1 TN-1 TN-2 TX-2 MS-2 AL-1 AR-1 NC-1 AR-2 MS-1 44 TN-1 TN-2 14
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