RAYONIER COMPLETES SALE OF NEW ZEALAND BUSINESS TO THE ROHATYN GROUP (Form 8-K)

RAYONIER COMPLETES SALE OF NEW ZEALAND BUSINESS TO THE ROHATYN GROUP

WILDLIGHT, Fla. - June 30, 2025 - Rayonier Inc. ("Rayonier") (NYSE:RYN) today announced the completion of the previously announced sale of entities holding its 77% interest in the New Zealand joint venture to a special purpose vehicle owned by an investment fund managed by The Rohatyn Group ("TRG"), a global asset manager specializing in emerging markets and real assets, for a purchase price of $710 million. Net proceeds to Rayonier, after adjusting for estimated net debt, working capital, transaction costs, and other closing adjustments, are expected to be $699 million.

Rayonier continues to anticipate using at least 50% of the proceeds to reduce leverage and/or return capital to shareholders through special dividends and share repurchases. Remaining proceeds are expected to be deployed opportunistically to fund other capital allocation priorities, including additional share buybacks and/or potential reinvestment into synergistic acquisitions. Rayonier continues to expect a special dividend for 2025 of $1.00 to $1.40 per share, which will be paid in a combination of cash and shares (details to be announced later this year). During the second quarter, Rayonier repurchased ~1.5 million shares for ~$35 million in total. As of June 30, 2025, the company had ~$262 million remaining under its current share repurchase authorization.

Rayonier had previously reclassified its New Zealand business to discontinued operations on its consolidated financial statements, and the updated financial outlook provided in conjunction with the company's first quarter results on April 30 excluded contributions from the New Zealand business.

"We have now completed roughly $1.45 billion of dispositions since introducing our asset disposition and capital structure realignment plan in November 2023-significantly exceeding the original $1 billion target," said Mark McHugh, President and Chief Executive Officer of Rayonier. "The success of this plan has allowed us to achieve our new leverage target in a manner that has been accretive to both CAD* and NAV per share, as well as better position Rayonier to create long-term value for our shareholders going forward."

"We want to extend our gratitude to the team in New Zealand, which has done an outstanding job in managing these highly productive assets, and we are pleased to transfer the stewardship of this business to TRG, a well-regarded manager of forestry assets in the region," added McHugh.

About Rayonier

Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States. As of March 31, 2025, Rayonier owned or leased under long-term agreements approximately 2.5 million acres of timberlands located in the U.S. South (1.75 million acres), U.S. Pacific Northwest (308,000 acres) and New Zealand (412,000 acres). On June 30, 2025, the

1 Rayonier Way, Wildlight, FL 32097 904-357-9100

company completed the previously announced sale of the entirety of its New Zealand assets. More information is available at www.rayonier.com.

About TRG

Founded in 2002, TRG is an investment management firm specializing in emerging markets and real assets. Headquartered in New York, the firm is comprised of ~150 professionals based in 16 countries across North and South America, Europe, the Middle East, Africa, India, Southeast Asia, and Oceania.

TRG Forestry & Agriculture (formerly the business of GMO Renewable Resources) is comprised of a seasoned team of land investment professionals and is dedicated to the acquisition and management of diversified portfolios of timberland and/or farmland for the benefit of its clients. Employing a value-oriented approach, TRG seeks to invest in assets at prices reflecting biological yield potential. The team focuses on properties in lower-risk geographies where commercial forestry and agriculture are well-developed and good title, high-quality management, and adequate infrastructure are available.

For more information, please visit www.rohatyngroup.com.