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

Significant HBU Potential in FL and GA Coastal Corridor Rayonier landholdings Waycross Camden CO GEORGIA Hinesville Bryan Savannah CO Liberty CO Glynn CO 95 Nassau CO Duval Co 10 295 FLORIDA Mclintos CO Brunswick St. Marys-Kingsland Fernandina Beach Overview of Coastal Corridor Properties ☐ ☐ Jacksonville St. Johns St. Augustine Timberland ownership base of ~200,000 acres Approximately 40 miles of water frontage Approximately 250 miles of road and highway frontage Land holdings at five interchanges on I-95 and two planned future interchanges Residential, commercial, and industrial land-use entitlements in hand Proximity and connection to international airports and seaports, with multiple sites served by rail Intensive land classification effort has identified 25 distinct planning nodes spanning coastal corridor ownership Gainesville Rayonier CO Flagler .co Palm Coast Daytona Beach Investor Relations | August 2017 32

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