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Investor Presentation

New Zealand Timber – Portfolio Overview Highlights/Location - Acreage: 417,000 acres (297,000 productive acres) Sustainable Yield: 2.4 - 2.7 million tons Planted/Plantable: 71% Average Site Index: 95 feet at age 20 (1) 2022 EBITDA*: $54.5 million FSC® and PEFC™ Certification Appraised value as of 12/31/22: NZ$1,872 million (3) Acres in 000s Five-Year Performance Summary ($ in millions) (Tons in 000s) $100 3,000 Adjusted EBITDA* $80 2,800 $60 2,600 $40 2,400 Volume (Tons) $20 2,200 2,000 2018 2019 2020 2021 2022 Adjusted EBITDA Volume Balanced Age Class Profile (Radiata) (2) 80 70 60 50 40 30 20 10 0-4 5-9 10-14 15-19 20-24 25+ Other Species Age Class in Years Rayonier Site index reflects the average height of the dominant and codominant trees at a base age of 20 (New Zealand). Age class profile as of 12/31/22 per 2022 Form 10-K. Annual appraisals are obtained by Matariki Forestry Group for compliance with statutory financial reporting requirements. Non-GAAP measure (see Appendix for definitions and RYN reconciliations). Investor Presentation | March 2023 19
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