U.S. South Historical Valuation Snapshot
Southern Timber - Portfolio Overview
Highlights/Location
Acreage: 1.91 million acres
Five-Year Performance Summary
($ in millions)
(Tons in 000s)
$180
7,000
☐
Sustainable Yield: 6.8 - 7.2 million tons
Planted/Plantable: 67%
- Average Site Index: 73 feet at age 25 (1)
▪ 2022 EBITDA*: $156.9 million
Adjusted EBITDA*
$160
6,500
$140
6,000
$120
$100
5,500
$80
5,000
$60
4,500
Volume (Tons)
$40
☐
Sustainable Forestry Initiative Certification
4,000
$20
3,500
2018
2019
2020
2021
2022
Adjusted EBITDA
Volume
Rayonier
Acres in 000s
300
250
200
150
100
50
Balanced Age Class Profile (2)
0-4
5-9
10-14 15-19 20-24 25+ Natural
Pine
Age Class in Years
(1)
Site index reflects the average height of the dominant and codominant trees at a base age of 25 (U.S. South).
(2) Age class profile as of 09/30/22 per 2022 Form 10-K.
Non-GAAP measure (see Appendix for definitions and RYN reconciliations).
Investor Presentation | May 2023
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