RAYONIER INC

Rayonier Inc. announced the permanent appointment of Ryan M. Daniels as Senior Vice President, Wood Products, effective July 16, 2026. Mr. Daniels had been serving in an interim capacity since March 2026 and previously held the role of Senior Vice President, Operations of the Wood Products business. In connection with his appointment, Mr. Daniels will receive an increased annual base salary of $450,000, eligibility for a cash bonus of 65% of his base salary, and participation in the Rayonier Executive Severance Pay Plan.

Rayonier Inc. completed its merger-of-equals transaction with PotlatchDeltic Corporation on January 30, 2026, significantly impacting its financial statements from that date forward. For the first quarter of 2026, the company reported a net loss of $12.5 million, an increase from the $3.1 million loss in the prior year, despite a substantial rise in sales to $276.8 million. The merger led to a significant expansion of the company's asset base and changes in its capital structure.

Rayonier Inc. reported a first quarter net loss attributable to Rayonier of ($12.4) million, or ($0.05) per diluted share, on revenues of $276.8 million. Excluding merger-related costs and a tax benefit, pro forma net income was $17.4 million, or $0.07 per share, and Adjusted EBITDA reached $94.1 million. These results reflect the successful merger with PotlatchDeltic Corporation completed on January 30, 2026, which significantly impacted segment performance and financial structure. The company also repurchased $31.1 million of shares during the quarter.